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TDS on salaries applicability

TDS 257 views 4 replies

Hi

 

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

 

Txs

 

Replies (4)

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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