A ca charge a bill on his client of rupees 100000 and charge service tax @ 12.36%, party make payment after dedicate tds
@10% what enters be made in the books of CA and party.
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Answer Posted / deepak deshpande
BOOKS OF Z PARTY
PROFESSIONAL CHARGES A/C DR 1, 12,360
TDS PAYABLE A/C CR 11,236
CA FIRM A/C CR 1,01,124
BEING SERVICE RENDERD BY CA FIRM
CA FIRM A/C DR 1,01,124
BANK A/C CR 1,01,124
BEING AMOUNT PAID TO CA FIRM ON SERVICES RENDERD
TDS PAYABLE A/C DR 11,236
BANK A/C CR 11,236
BEING TDS DEDUCTED PAID TO GOV.
BOOKS OF CA
Z A/C DR 1, 12,360
PROFESSIONAL FEES RECEIVABLE A/C CR 1, 12,360
BEING AMOUNT DUE ON SERVICES PROVIDED
BANK A/C DR 1,01,124
PARTY Z A/C CR 101,124
BEING PAYMENT RECEIVED SUBJECT TO TDS
TDS RECEIVABLE A/C DR 11,236
PARTY Z A/C CR 11,236
BEING TDS CERTIFICATE DUE FROM Z
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