Answer / k. phalguna rao

Ex. X is a Contractor he submitted his bill for Rs. 25000.0
for masion work

for first entry is

Masion work a/c dr 25000
To X A/c 25000

after we make payment to him

X A/c Dr. 500.00
To TDS on X A/c 500.00
(Being 2% deducted as TDS on sub contract works for Rs.
25,000.00)

X A/c Dr. 24,500.00
To Bank A/c 24,500.00
(Being balance amount paid after deducting TDS)

TDS on X A/c Dr. 500.00
To Bank A/c 500.00
(Being TDS amount paid to Govt. on due date on behalf of
Mr. X)

Answer / g.vasudevan

You have to separetly calculate the TDS.Make a ledger of
TDS under Provision for taxex.After than you can enter the
entry in Tally 9,

Answer / pankaj tiwari

Activate TDS : gateway of tally>f11>statutory & taxation>
Enable TDS set YES Then back to gateway of tally
Creating Ledgers : gateway of tally>account info> ledger>create
1. ledger name : RENT A/c Under Indirect Exp
2. ledger name : Mohan A/c Under Sundry Creditors
Set YES infront of Is TDS applicable the Choose RENT form
the list shown on the screen
3. ledger name : TDS on Rent Under Duties & taxes
Set YES infornt of Is TDS applicable the Choose RENT form
the list shown on the screen

Now Ready for TDS Entry
Gateway of tally>accounting voucher>press F7(journal Vouccher)
Dr RENT 5000
Cr Mohan 5000
Now Press Alt+S(for TDS Deduction)
Dr Mohan press enter choose TDS on RENT form the
Screen>Enter>enter

Now open Payment voucher
Dr mohan whatever balance shown
Cr cash

Dr TDS on RENT
Cr cash

TO see the TDS repot
Gateway of tally>display>Statutory report> TDS report

HEy enjoy.............
By PANKAJ TIWARI JAWAHAR COMPUTER EDUCATION, BANGLA BAZAR
LUCKNOW

Answer / 1

Suppose a job work done through M/s. ABC and Company for Rs.
1 lac.

Dr. Job work Expenses Rs. 1,00,00.00

Cr. ABC & Co. 97774 (net of TDS)
Cr. TDS on payment to Contractors 2226

Answer / trushar

party a/c dr and tds credit that enter in tally9

Answer / jagat babu sharma (9450123500)

01) Expenses( TDS Nature Deduction Applicable) A/c Dr.

To TDS Payable A/c
To Party's Personal(bill amount-TDS Amount) A/c
(Being amount credited after TDS... % of Rs ..
(Deductable amount)
02)
TDS Payable A/c Dr.
To Bank/Cash a/c
(Being TDS amount deposited as per challan no. ..
dt... BSR code.. sr. no. Bank ..)

03)
Pary's personal a/c Dr.
To bank / Cash A/c
( Being paid to party....)

Answer / suresh

if we have given to subcontract to "x" For 100000
when he completed work then we have to payment to him look see
1)whenever we are giving payment make
Subcontract account.........dr 100000
To Tds payble a/c ........cr 10000
To x account .............cr 90000

Answer / phanindra

the entry in tally ERP

Job work Expenses A/c 1,00,000
Party A/c 99,000
TDS to Sub Contract 1000

Answer / kumaran

op[

Answer / gopal

TDS Rates Chart for AY 2015-16:
TDS rates chart for income tax on select categories for the financial year 2015 and 2016 are listed below. These rates are applicable for resident Indians.

Nature of payment % of TDS
Payment of salary (Section 192) Normal slab rate
Interest on securities (Section 193) 10%
Dividend excluding the dividends mentioned in section 115-O (Section 194) 10%
Income received from interest other than “interest on securities” (Section-194A) 10%
Income received from winning lotteries, crosswords, and games, etc. ( Section-194B) 30%
Insurance commission (Section-194D) 10%
Payment for life insurance policy (Section 194DA) 2%
Rent (Section 194-I)
For plant and machinery – 2%

Land, furniture, fitting and furniture-10%

Payment on transfer of immovable property excluding agricultural land ( Section (194- IA) 1%
Income Tax TDS Rates Applicable for NRIs are Mentioned Below:
Nature of Payment % of TDS
Payment of salary (Section 192) Normal slab rate
Payment of accumulated balance of provident fund (Section 192A) 10%


Income received from winnings lotteries, crossword puzzles, card games and other games of any sort (Section 194B) 30%
Income received from winnings from horse races (Section 194BB). 30%
Payment on deposit under National Savings scheme (section- 194EE) 20%
Payment on repurchase of Mutual Fund or Unit Trust of India ( Section 194F) 20%
Commission on sale of lottery tickets (Section 194G) 10%
TDS Deduction Rate:
TDS deduction rates are dependent on your taxable income. TDS deduction rate for the financial year 2015 and 2016 are mentioned below. These rates are applicable for general taxpayers, both men and women.

Taxable Income Tax Rate
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 to Rs. 5,00,000 10%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
TDS Slab Rates:
TDS deduction rates are different for senior citizens and super senior citizens. The below mentioned TDS slab rates are applicable for senior citizens aged between 60 to 80 years:

Income Slabs Tax Rate
Up to Rs. 3,00,000 Nil
Rs. 3,00,000 - Rs. 5,00,000 10%
Rs. 5,00,000 - Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
For super senior citizens aged 80 years and above, the following rates are applicable:

Income Slabs Tax Rate
Up to Rs. 5,00,000 Nil
Rs. 5,00,000 - Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

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