TDS deduct to rent

security deposite for rent .what is journal entry and monthly paid to rent and deduct Tds
.what is journal adjust for tally plz help for this query.
Replies (3)
Quick Summary
This discussion explains the accounting treatment for TDS (Tax Deducted at Source) on rent payments. It provides step-by-step journal entries for recording security deposits, monthly rent accruals with TDS deductions, and the subsequent payment of rent and TDS. The guide also touches upon how to adjust these entries in Tally accounting software.

1) Security Deposit. A/c Dr
To Bank A/c Cr
( security Deposit paid )

Note -show Security Deposit under Current Asset


2) Rent. A/c Dr
To Trade creditor A/c Cr
To TDS on Rent A/c Cr
( Rent payable after TDS deduction)

3) Trade creditor. A/c Dr
Bank A/c Cr
( Rent paid )

4 ) TDS on Rent. A/c Dr
To Bank A/c Cr
( TDS deposited with Government account)
2)after creation of liability.
4) tds on rent dr. Bank cr.
Thanks for response my query.

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