Tds calculation

Gross Rent amt would be 55555.55,  TDS would be 5555 & net payment would be 50000.

Agree with Girdhar Ji..

Accounting entry to be passed would be 

Rent A/c                 Dr.       55,555

      To  Bank A/c                                 50000

      To  TDS Payable A/c                      5555

Thank you Giridhar & Mahesh.

My query is.....

Clent has received bill of Rs 1,00,000 for advertisment and paid Rs. 1,00,000 and deduct TDS @ 1% 1000/-....As by reverse calculation i suggest to Deduct TDS 1010/- as payment of RS 1,00,000 is 99%

But due to this entry they made

Advertisment   dr 1,01,010

   To Bank                                   1,00,000

    To TDS Payable                          1.010

As bill recived is only Rs 1,00,000 than whther 1,01,010 is allowable  ???????

Suggest

@ Denish Patel,

It is allowable if advertising company can give u a fresh bill of that amount otherwise it is wrong

Plese defined me method of reverse calculation of TDS

I want to no how calculate Reverse TDS