dear colleagues,
ek confusion hai ... ek part jisse hum goods purchase krte hai usse late payment krne per usne humse interest charge kiya hai.. approx 60,000/- toh usne(vendor) ne apni books me hume debit kr diya hai... lekin vhi entry jab hum apni books me krnege toh tds provision applicable hoga or entry hogi(jha tak muje pata hai)--
Dr.interest on late payment. 60k
Cr. party a/c. 54k
Cr. Tds payable. 6k
toh isse toh ledgers k closing bal. me 6k ka difference aa jaega?? toh iska solution hai??
Regards
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Tds related query...
Replies (12)
You may pay 54k to the vendor and 6K as TDS to the govt. When you issue form 16A, the vendor can adjust the TDS credit on filing ITR.
Poornima Mam, lekin vendor ne already 60k debit kr diya hai.. yhi toh confusion hai ki ab ledger kaise match hoga both parties ka??
As of now, it won't match. It will match when form 16A is issued.
Ye toh Mam shayd sahi nhi... kyunki both parties audited hai toh dono k closing bal. mismatch hona shi nhi rhega... toh Mam esa ho skta hai na ki vendor bhi same entry show kre jaise humne kri hai??
This mismatch will be there for everyone who are required to deduct tax at source (TDS).
If you think this is not correct, then what about mismatch in closing balance as per books and bank?
You may prepare a reconciliation statement in respect of TDS mismatch if you want to.
Bhai tu pehle 60k vendor k acnt me credit kar fir tds ki entry le.
ab transactions match ho jayenge
ab transactions match ho jayenge
Achaa... veerendra ji aap khud kriye ek baar fir bataie muje
Sorry bhai ek cheej bhul gya
jis din tum tds deduct karoge us din vendor ko intimate karna hoga. fir vo bhi tds receivable ki entry lega.
uske baad dono k accounts me 54k ka balance dikhega.
jis din tum tds deduct karoge us din vendor ko intimate karna hoga. fir vo bhi tds receivable ki entry lega.
uske baad dono k accounts me 54k ka balance dikhega.
Toh vo hi toh keh rha hu sir... ki vendor ko bhi entry change krni padegi na
Ask vendor to pass tds receivable entry in its book of account
Change wali baat nhi ha. ye to bohut common ha. sab logo ko sales k sath sath tds receivable ki entry bhi karna padta ha. vendor ko bhi 6000 ki tds entry leni padegi. ya to sales k din ya fir jis din tum usko intimate karte ho, us din.
Ok sir
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