TDS on professional fees

Entire  50000 will b your income of F.Y. 2009-10 i.e. of 31-3-10

Entry will b

1. Date 31-3-10

Party A/c Dr.                             50000+ST

       To Consultancy income        

2    31-3-10

     TDS A/c Dr.                            TDS Amt

       To Party A/c    

3     Aug 2010

 Bank A/c Dr.                     50000+ST-TDS

   To Party a/c                        

Tds A/c shall b created under Dutie & Taxes in B/S . It will b your Asset as if Advance Tax