Interested to Buy Any Domain ? << Click Here >> for more details...
When we paid tds on rent how will journal entry will come and how to enter in tally software?
- 12 Answers
- 64981 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ravi kedari.
TDS On Rent A/c....Dr
TO Bank/Cash A/c... Cr.
| Is This Answer Correct ? | 73 Yes | 11 No |
Answer / praveen.kp
There are mainly 3 entries.
1. for booking rent
Rent a/c Dr
To parties a/c
To TDS on rent a/c
2. for TDS
TDS on rent a/c Dr
To Income Tax Suthorities a/c
3.for paying TDS to GOVt
Income Tax authority a/c DR
To cash a/c
(cash go's out of the business)
| Is This Answer Correct ? | 59 Yes | 6 No |
Answer / t
TDS on rent a/c(amount deducted as TDS from rent)...Debit
To, Bank a/c (Credit
| Is This Answer Correct ? | 48 Yes | 5 No |
Answer / sandeep negi
Lets assume the following. "A" consider Party. "B" consider
TDS & "C" consider Rent
So Journal entry will be as following
Rent "C" (debit)(value of (A+B)
To TDS "B" (C-A)
To PArty "A" (C-B)
Thanks
| Is This Answer Correct ? | 37 Yes | 3 No |
Answer / rajesh
Suppose we are paying a landlord a rent Rs.15000/- & Tds
should be deducted @ 10%.
*Tds= 15000*10%=1500
therefore net payment to be made to landlord is Rs.13500/-
(i.e 15000-1500 =13500)
Entry will be passed in our book as
Rent & Hire Charges Rs.15000 Dr
Bank A/c. Rs.13500 Cr
Itds on Rent Rs. 1500 Cr
| Is This Answer Correct ? | 34 Yes | 10 No |
Answer / mohan sriram (bhiwandi)
1) While book in Tally-
Rent A/c Dr- 100
To TDS on Rent A/c - 20
To Party A/c - 80
2) While making payment to the party
Party A/c Dr- 80
To Bank A/c - 80
3) Deposits of TDS to Govt
Treasury/Bank A/c Dr- 20
To TDS on rent A/c - 20
| Is This Answer Correct ? | 34 Yes | 18 No |
Answer / mamta chaudhary
Three entries will be passed
Entry for Due
1) Rent A/c Dr.
To Landlord account
To Tds on Rent
Entry for transfer
2) Tds on Rent A/c Dr.
To Tds Payable Account
Entry for payment
3) Tds Payable A/c Dr.
To Bank/Cash Account
| Is This Answer Correct ? | 13 Yes | 0 No |
while booking a bill in journal in tally -f7
in journal - party a/c dr 5000
to tds 5000
(being bill booked)
in journal deduction entry - alt+s is the short cut key-f7
party 510.10
to tds 510.10
payment entry after deducting tds -f5
party a/c dr 4490
to bank 4490
deducted tds payment made to the dept -f5
tds a/c dr 510.10
to bank 510.10
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / tarun pal
SUPPOSE, WE PAY TDS ON RENT ENTRY WILL BE PASSED
BANK A/C Dr.
To TDS ON RENT A/C
TO PARTY A/C
| Is This Answer Correct ? | 10 Yes | 9 No |
Answer / sateesh
how to prepare tds journal entries on salaries for the month of june-2016
| Is This Answer Correct ? | 1 Yes | 0 No |
What is properties or real accounts?
What is Tax Groups
How Adjust The Amount Taken By Partners For Personal Use? Is The Entry For Drawings? Even If The Amt Exceed 5 Lakhs Or As Partners Loan If Its Not Recovered Even After 1 Year? Discribe All.
Tell me what are the key tasks for account executive?
Upto what extent we can keep cash in hand on year end (31 march)
what do you mean by bank reconocilition statement
how to calculate professional tax, what is the percentage and also turn over tax.
which will be the assessement year for2010-11.
What is the treatment of claim settled by insurance company but still receivable in profit and loss account
entry of salary after deducting esi and pf
Why in KE5Z report in SAP Accounting Data not found?
What do you mean by the word Loss in nominal accounting Give some examples
Audit 
