TDS on year end provisional entry

Expenses A/c Dr

      To Provision for Expens

(Being Provision made)

Creditors / Party A/c Dr.

         To TDS Payable A/c

(Being TDS provision made for)

Yes. It is necessary to deduct TDS for expenses booked on 31st March

Mr.Gaurav

When Estimate amount is suppose "X" & bill for the expenses is suppose "Y" then treatement of difference between X & Y would be as  per AS-5 Chanes in the estimate & diiference is bboked in current year & TDS is deducted on the basis of credit or payment whichever is earlier

Hello,

As i know as per rules TDS amount to be booked if  provisional expenses are create so, then the accounting entry would be as follows

                    Expenses a/c   Dr

                                To TDS on Expenses(Payable) a/c

Once the expenditure  booked the above said intry would be reversal of transaction.

Thank q

-JHP

Hello,

The journal entry for provision as under

                   Expenses a/c Dr

                            To Provision For Expenses a/c

Thank q

- JHP