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TDS on salaries applicability

Yasaswi Gomes new (Finance ) (4475 Points)

10 June 2023

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

Txs

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4 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14167 Points)
Replied 10 June 2023

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.

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sabyasachi mukherjee (26057 Points)
Replied 11 June 2023

You hv not considered other statutory liabilities dues.

prasad Nilugal ( GST Practitioner & Accounts ) (14167 Points)
Replied 12 June 2023

@ 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 )