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Pls let me know how to calculate TDS n on what basis is it
done
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Answer / sg
TDS IS TAX DEDUCTED AT SOURCE.
BEFORE GIVING SALARY IT WILL DEDUCT FROM EMPLOYEES BY EMPLOYER
FIRST ,EXPENSES A/C...DR
CREDITOR
SECOND,CREDITOR A/C...DR
TDS DEDUCTED ON EXP(TDS DUDECTED)
THIRD,CREDITOR A/C ....DR
BANK(REMAINING AMOUNT PAID TO CREDITOR)
FOURTH,TDS PAYBLE...DR
BANK(PAID TDS RETURN)
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / bikram mandal(accountant)
T D S MEANS TAX DEDUCTION SOURCE, THE ENTRY WILL BE ..........
1)SALARY A/C DR ...........5000
TO TDS 2 % 100
TO BIKRAM MANDAL 4900
2)BIKRAM MNDAL A/C DR. .........100
TO T D S 2% 100
3)GOVT. A/C DR. ..........100
TO BANK 100
4)BIKRAM MANDAL A/C DR. ......100
TO BANK ...........100
| Is This Answer Correct ? | 3 Yes | 1 No |
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