Answer / sujit kumar singh

If Tds certificate received then

By Bank a/c Dr 9000/-
By TDS a/c Dr 1000/-
To Party Name A/C Cr 10,000/-


If Tds Deduct and certificate given then

By Party Name A/C Dr 10,000/-
To TDS a/c Cr 1000/-
To Bank a/c Cr 9000/-

Answer / nihar

A. TDS deducted on Due basis and Payment was made.

1)For TDS due-

Expenses A/C Dr.

To Party A/C.
To TDS Payable A/C.
(Being expenses was due and TDS was deducted)

2)For Payment of TDS

Party A/C Dr.
TDS Payable A/C Dr.

To Bank A/C.
(Being payment was made)

B. TDS was deducted on Payment basis

1) Party A/C Dr.

TO TDS Payable A/C.
TO Bank A/C.
(Being advance paid to party and TDS was deducted)

2) TDS Payable A/C Dr.

To Bank A/C.
(Being TDS was Paid)

3) Expenses A/c Dr.

To Party A/C.
(Being Expenses was Booked)

Answer / yogeshd

1.If we deduct TDS on Our Exp

Expense A/c Dr.
To TDS Payable U/S 194..
To Party Ac Or Bank/Cash A/c

2.If Some One Deduct Our TDS

Bank/Cash A/c OR Party A/C Dr.
TDS Receivable A/c Dr.
To Income A/c

3.TDS Payment Made To Government

TDS Payable A/C Dr.
To Bank A/C

4.TDS Certificate Received

TDS Receivable A/c Dr.
To Party A/C

Answer / bheem singh

When we received any contract then entry will be

Party A/c Dr
TDS A/c Dr
To Income A/c Cr.

Here when we receive the amount TDS amount will not be
credited it will be adjusted at the time of payment of
income tax.

When we give the contract then entry will be

Expense A/c Dr
To Party A/c Cr.
To TDS A/c Cr.

At the time of Payment entry will be

Party A/c Dr.
TDS A/c Dr.
To Cash/Bank..

Then Both Party A/c and TDS A/c will be closed.

Answer / amulya kumar nayak

DUE OF T.D.S ENTRY
EXPENSES A/C DR
TO T.D.S A/C
TO PARTY A/C


PAYMENT ENTRY
PARTY A/C DR
TO BANK/ CASH
T.D.S PAID ENTRY
T.D.S A/C DR
TO CASH/BANK

Answer / saritabhardwaj2007

expense a/c dr
to tds payable a/c
to bank a/c

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