Opening credits balance for A Ltd is Rs.100/-
Current year rent receivable from A.Ltd net of TDS is Rs. 90(TDS is Rs.10)
What will be the accounting entry?
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Tds entry
Replies (6)
Receipt Voucher :
Cr. Rent Receivable A/c - 90
Dr. Cash / Bank A/c - 90
Journal :
Cr. Rent Receivable A/c - 10
Dr. TDS A/c - 10....
Cr. Rent Receivable A/c - 90
Dr. Cash / Bank A/c - 90
Journal :
Cr. Rent Receivable A/c - 10
Dr. TDS A/c - 10....
I think there is no need for cash payment.
(I think there is no need for cash payment.)
Also I replied Cash or Bank receipts...
Also I replied Cash or Bank receipts...
A ltd account Dr. 90
Tds receivable Dr. 10
Rent receivable account 100
i agree with Mr. Rajendran
here TDS is an asset. It can be adjust from our tax liability while self assessment.
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