My firm recieved rent from a other company rs.245000 in a bank and Company deduct tds on rent rs.24500
(This data show in 26as)
My Question is that
how i treated this entry in my books of accounts?
Reply Quickly..
Menu
TDS U/s 194ib
Replies (9)
As Your simple understanding
Journal :
Dr. Rent A/c - Rs. 245000
Cr. Landlord A/c - Rs. 245000
Dr. Landlord A/c - Rs. 24500
Cr. TDS payable A/c - 24500
Payment :
Dr. TDS payable A/c - 24500
Cr Bank A/c A/c - Rs. 24500
Dr. Landlord A/c - Rs. 220500
Cr. Bank A/c - Rs. 220500
Journal :
Dr. Rent A/c - Rs. 245000
Cr. Landlord A/c - Rs. 245000
Dr. Landlord A/c - Rs. 24500
Cr. TDS payable A/c - 24500
Payment :
Dr. TDS payable A/c - 24500
Cr Bank A/c A/c - Rs. 24500
Dr. Landlord A/c - Rs. 220500
Cr. Bank A/c - Rs. 220500
Sir,
These entries are Rent Paid. But, Query is rent receipts...
😊😊😊😊😊
These entries are Rent Paid. But, Query is rent receipts...
😊😊😊😊😊
Yes... You are exactly correct. Sorry for the Wrong understanding for the Query...
😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😇
😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😇
Sir.,
Required correct entry as per above query... 😊
Required correct entry as per above query... 😊
Entry for book income in books
Dr. Debtors A/c (Tenant A/c) - 245000
Cr. Rent Receivable A/c - 245000
Entry for payment received
Dr. Bank A/c - 220500
Dr. TDS paid A/c - 24500
Cr. Tenant A/c - 245000
Dr. Debtors A/c (Tenant A/c) - 245000
Cr. Rent Receivable A/c - 245000
Entry for payment received
Dr. Bank A/c - 220500
Dr. TDS paid A/c - 24500
Cr. Tenant A/c - 245000
Journal :
Dr. Landlord A/c - Rs. 245000
Cr. Rent A/c - Rs. 245000
Dr. TDS Receivable A/c - Rs. 24500
Cr. Landlord A/c - Rs. 24500
Receipts :
Dr. Bank A/c - 220500
Cr. Landlord A/c - Rs. 220500
Dr. Landlord A/c - Rs. 245000
Cr. Rent A/c - Rs. 245000
Dr. TDS Receivable A/c - Rs. 24500
Cr. Landlord A/c - Rs. 24500
Receipts :
Dr. Bank A/c - 220500
Cr. Landlord A/c - Rs. 220500
Dear Sir / Madam,
I have Post Office PPF account and Following My deposit amounts
21/10/2017 - Rs. 1000
08/02/2018 - Rs. 11000
28/02/2018 - Rs. 35000 - Total Deposits Rs. 46000...
Can I claim PPF deduction above said Rs. 46000...?
Yes You can claim the PPF deposit.
Entry should be
Bank A/c Dr 220500
TDS A/c Dr 24500
To Rent Recd Cr 245000
Recent Topic
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
- INCOME TAX NOTICE 143(2) - FY 2024-2025
Related Topics
CAclubindia
