hi
| Originally posted by :jaya | ||
| " | hi I need some help in setting up ledgers and posting vouchers to account for payments that I have received from companies where TDS was deducted by them. For example I bill a company for Rs. 25000 on 1-12-08, they pay me Rs. 22,425 after deducting 10.3% tax what ledgers should I set-up for the tax dedcuted and how do I account in the vouchers? |
" |
In such a case u will pass a journal entry
Bank A/c Dr. 22425
TDS Receivable A/c Dr. 2575
To Patry Name A/c 25000
thx
SSGS and Associates
Chennai
CA Inter
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CAclubindia
