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 / soumya prakash ganguly
Party A/c
P.Charges A/C.....Dr. 87640/-
Service Tax Receivable A/C.....Dr. 12360/-
To CA A/C...........Cr. 90000/-
To TDS payable A/C...Cr. 10000/-
CA A/C............Dr. 90000/-
To Bank/Cash A/C....Cr. 90000/-
CA A/C
Party A/C......Dr. 100000/-
To P. Charges A/C...Cr. 87640/-
To Service Tax Payable A/C..Cr. 12360/-
Bank/Cash A/C..Dr. 90000/-
TDS Receivable A/C...Dr. 10000/-
To Party A/C.....Cr. 100000/-
[Note : Now TDS charges on base value of invoice]
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