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Tds entry ecommerce snapdeal flipkart
I would like to know that we deals in e-commerce company like Snapdeal, flipkart and amazom These company work on commission basis job they take order and transfer on our panel and we send the product to the customer but they collect the payment from the customer through courier company and online and they give us payment after deduction the commission we calculate TDS according the section 194H challan amount transfer CA bank account and they pay our TDS challan to government our charted accountant giving the TDS 16A non salary Certificate then snapdeal, flipkart refund us TDS amount now please tell me what are the necessary Entry have to pass all accounting process of TDS Related
Replies (5)
Dear Sir
Lets take an example.....
Mr. A ( Dealer) send good to customer after receiving an order from snapdeal worth Rs. 5000.
Snap
Dear Sir Lets take an example..... Mr. A ( Dealer) send good to customer after receiving an order from snapdeal worth Rs. 5000.
Snapdeal receives payment from customer Rs. 5000 and remitt to Mr. A Rs. 4500 after deduction commission amount Rs. 500.
1. Customer A/c dr. 5000
To sale A/c 5000
2. Snapdeal dr. 4500
Commission dr. 500
Snapdeal dr 50
To Customer A/c 5000
To TDS Payable 50
3. Bank A/c dr. 4500
To snapdeal 4500
Mr. Jaykumar,
Why should we bear the additional TDS RS.50/- infact if they remit Rs.4550/- then we can pay TDS.
Am i not correct.
SnapDeal will reimburse you Rs.50/-
Kapil
Even we are selling online and faced similar problem - U can check this question posted by some user - This is right way of claiming TDS from Marketplace like Flipkart / Amazon / Snapdeal
https://www.wisesellr.com/question/how-to-claim-tds-from-flipkart/
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