tds entries

1. Gateway of Tally----> Voucher Entry (Accounting vouchers)-------> F9 (purchase)-------> Class--> Not applicable.

2. As voucher entry(Ctrl.V)

3. Ref. Bill No & Date

4. Parties A/c Cr                  Rs. Total Bill Value (-) TDS rate.

TDS on contract A/c Cr.     Rs. TDS Rate

Labour charges A/c. Dr.  Rs. Bill Value.

Attachment is TDS rate chart

how to put tds entry for eg : commission received from Bajaj Allianz Rs 50000, T.DS = 5570 under which heads to be categorised he is a individual pl hel me

T.S.Mohana harish , harish_ts1984 @ yahoo.com

bank a/c Dr. 44430

TDS recievable a/c Dr. 5570

To commission a/c 50000

TDS will be shown under the head advances and will be set off against income tax payable by you

Mr. Pavankumar

Firstly U clarify your querry. There r 2 types of TDS.

1. TDS Receivable : dedcted by the person who make the payment to U

2. TDS Payble : deducted by U, to whom U make the payment .

Please tell mwe which wntries U need

Mr. Pavan

For TDS Receivable U can pass entries in this way

1. If U receive payment  :  ( Follow Cash system )

                                              TDS Receivable                Debit

                                              Bank                                   Debit

                                             Commission Receipts   Credit

                                            ( or Whatever Income )

If U make provision        ( Follow Mercantile basis )

                                           TDS Receivable                Debit

                                           Party A/c                             Debit

                                          Commission Receipts   Credit

                                            ( or Whatever Income )

TDS Payable : ( Follow Mercantile basis )

                                          Expenses                       Debit

                                         Party A/c                          Credit

                                        TDS Payable                   Credit

In case U make payment ( Follow A/c Cash Basis).

                                        Expenses                       Debit

                                         Bank  A/c                         Credit

                                        TDS Payable                   Credit

Pl. U may Call for further detail  : Surana, Chennai, 9952967237

Thanks Mr.Surana sir.

Manjunatha