how to pass an entry for expenditure by deducting tds for
customer
- 11 Answers
- 9658 Views
- I also Faced
- E-Mail Answers
Answer Posted / narasimha rao
ex:if payment 50000 to party tds rate will aplly 10%=5000 so e
party a/c dr -45000
tds a/c dr -5000
to bank or cash -50000
| Is This Answer Correct ? | 2 Yes | 3 No |
Post New Answer View All Answers
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
salary and rent entry with tds deduct
What do we mean by purchase return in accounting?
List out some of the accrued expenses and the accounts in which you would record them?
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
under which accounting rule prepaid salary?
What are the different fields of accounting?
In the absence of any provision in the partnership agreement, profits and losses are shared (a) In the ratio of capitals. (b) Equally. (c) In the ratio of loans given by them to the partnership firm. (d) None of the above.
What is difference vat
List the type of transactions entered in journal proper.
Knowing what you know now, walk me through what you would do differently to drive even more success?
what is the relationship between bookkeeping and accounting?
How will I post entries to Tally If I purchased a Car in Loan. The principal Amount = 62930 Interest = 6846 Total = 69776 We have to pay Rs 1191 every month for 4 years which include Principle amount and interest. how can I post the monthly entries to tally
what is t code of all expences general legder?
