hi any body
how to make a entry in tally
at the time of issue salary on tds dedection
pls telle me the entries in tally
for example
mr mohan
got the salry per month 35000 /- tds 10% on salary
he got the salry only 31500/-
so pls tell me the entries in tally
1)At the time of payment of salary :-
Salary A/c Dr 35,000
To Bank A/c 31,500
To TDS Payable A/c 3,500
2)At the time of payment (Deposit) of TDS on Salary:-
TDS Payable A/c Dr 3,500
To Bank A/c 3,500
Agree with Navin
Naveen Is correct. let me add on instead of TDS payable you can name the ledger as TDS on Salary payable so that you know that this TDS was deducted from Salary and while payment of TDS you are clear on the amount.
Yes....What Punith Ji said has more clarity regarding TDS on Salary.
CAclubindia
