What should be the entry passed for TDS deduction by the
Company and tds deducted on the Company?
Can tds refund on FD foreclosure be adjusted aganist the
tds deducted on the Company?
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Answer / koyi
Tally software entry
XYZ Company 10000
TDS Deducted -1000
Bank 9000
Is This Answer Correct ? | 10 Yes | 2 No |
Answer / om
AT Time of Deduction of Tds by the Party
Entry will be
Party 10000
TO Professional fees 10000 ( Directincome)
Tds 1000
cash 9000
To party 10000
AT time of deducting tds
Professionl fees 10000
TO Party 10000
party 10000
To Tds 1000
To Cash 9000
Depositing tds\
Tds 1000
To cash 1000
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / om
AT Time of Deduction of Tds by the Party
Entry will be
Party 10000
TO Professional fees 10000 ( Directincome)
Tds 1000
cash 9000
To party 10000
AT time of deducting tds
Professionl fees 10000
TO Party 10000
party 10000
To Tds 1000
To Cash 9000
Depositing tds\
Tds 1000
To cash 1000
Is This Answer Correct ? | 5 Yes | 2 No |
income tax refunds should be accounted for on cash basis or accrual basis
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the following figures given to you: 2008-09 Sales Rs.100000 Loss 10000. 2009-10 Sales Rs.250000 Profit 20000 Calculate: P/V Ratio, BEP, Sales to make a profit of Rs.40000, Margin of safety at at profit of Rs.2000
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EXPAND_________SEC
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Expand ------APIIC
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