Can any one tell me what is the entry to be passed in Tally ERP9 while payment made to the seller by the buyer for the purchase of Immovable Property, the value of Property is more than Rs.50,00,000 ?
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Tds entry for payment made to creditors >rs.50,00,000
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Fixed assets A/c Dr xxxx.xx
To Bank/Cash Cr. xxxx.xx
To TDS Payable Cr. xxx.xx
And after payment of TDS in form 26QB Entry to be made
TDS Payable Dr. xxx.xx
To Bank/Cash Cr. xxx.xx
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