TDS on salary

i have deposited TDS on salary for the month of Jan'10 of an employee but not deducted in his salary. i will deduct that tds amount in this month salary. please let me know how to manage entry in tally

Replies (3)

On the payment of TDS

    date will the day of salary of Jan due.       

              Employee's A/C                          Dr.          (Amunt of TDS)

                         To Bank/Cash

On due  of salary of Feb. ..

       Date - Due date of salary in Feb

               Salary                                          Dr

                          To Employee's A/C

on payament

                    Employee's A/C                      Dr              (amount after ded. TDS)

                            To Cash/Bank 

Dear Amod Ranjan,

Entry in your case will be as follows

I have assumed the name of employeee as X & P.m Salary = 100 & TDs on salary =10

January :   Salary A/c   Dr         100

                            To X                      100

 

                  X A/C dr              100

                       To Bank                   100 ( Payment of salary)

                   X A/C  Dr    10

                     To TDS payable AC           10 ( Being amount recoverable on account of TDS from X )

             TDS payable A/C        dr    10

                    To BAnk                               10 ( payment of TDS)

February : Salary A/c    Dr      100

                       To TDS payable               10  ( for the month of feb )

                        To  X A/c                            90

                     X A/C dr                 80

                         To BAnk                 80 

                         

agreee with Nilesh

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