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.
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 )