TDS on salaries applicability

Hi

 

Can someone give the entries for TDS on salaries payable and paid please

 

Txs

 

Replies (4)
Quick Summary
This discussion clarifies the accounting entries required for Tax Deducted at Source (TDS) on salaries. It covers the journal entries for both TDS payable and TDS paid, illustrating how to debit the salary account and credit salary payable, TDS payable, and other statutory deductions. The entries ensure accurate recording of salary expenses and tax liabilities.

Salary A/c Dr
To Salary payable A/c Dr
To TDS on Salary A/c Cr
( salary payable after TDS deduction)

TDS on Salary. A/c Dr
To Bank. A/c Cr
( TDS deposited in Government account)

TDS on Salary A/c , under Duties and Taxes , Current  liability side , Balance sheet.

You hv not considered other statutory liabilities dues.

@   Dear   Sabyasachi Mukherjee

I had reply as per the query which  was only for TDS as per your query entry as follows.

Salary A/c Dr
To Salary payable A/c Cr
To TDS payable. A/c Cr
To P F A/c Cr
To ESIC A/c Cr
To professional Tax A/c Cr
( Salary payable after deductions )

Oh yeah I have other entries noted but I'm interested in only TDS. But good to know all in a single shot. 

I also wanted to employee benefits related assets and liabilities.

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