What accounting Treatment we should do while we received
Amount Rs 39200 After deducting Tds 800 From Invoice Amount
40000. Kindly also explain for deducting Tds should be
booked under which Head of Tally.
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Answer Posted / utpal bora
Bank A/c Dr. 39200
Tds A/C Dr. 800
To Sundry Debtors A/C 40000
TDS UNDER HEAD "INDIRECT EXPENSES".Because Party all ready
deducted the TDS AMOUNT.
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Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales
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