Hello Everyone,
Need Your HELP!!!!
Kindly Provide Entry Of Tds , Intrest On Tds & Adjustment Of Tds
Awaited For Your Reply .
Thank you Soo Much.
Regards,
Neha Raut
neharaut0214 @ gmail.com
4 Replies
Mopidevi Bharadwaja
(Article assisstant)
(167 Points)
Replied 09 June 2017
when you need to pay towards Rent say the entry is
Rent a/c dr 240000 (say)
to Bank a/c 216000
to Tds payable a/c 24000(10% of rent payable)
when the Tds is deposited with interest
Tds payable a/c dr 24000
Interest on Tds a/c dr 240
To bank a/c 24240
Here Tds payable is created as current liabilities and Interest on Tds is created as Indirect expenses
In case of receivable
Bank a/c Dr 216000
Tds for FY 2016-17 Dr 24000
To Rental income 240000
here Tds for FY 2016-17 is created as Current asset
Neha
(Account Executive)
(34 Points)
Replied 09 June 2017
Thank You
1 More Querry Intrest On Tds & Intrest On Tds Payble Is Under which Head
Awaited For Your Reply .
Thank you Soo Much.
Regards,
Neha Raut
neharaut0214 @ gmail.com
Mopidevi Bharadwaja
(Article assisstant)
(167 Points)
Replied 09 June 2017
interest on Tds paid is under Indirect expenses
interest on Tds payable is under current liabilites
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