Answer / d

transport expenses a/c .. dr
to hemant transport a/c
to T.D.S

Answer / srikant barick

1.
Expenses A/c (on which TDS deducted) Dr. 100%

To, TDS Payble A/c (as per central govt. rate)
To, Cash (balance after deduction of tds from exp.)
(if cash paid & expenses early)

2.
Expenses A/c (on which TDS deducted) Dr. 100%

To, TDS Payble A/c (as per central govt. rate)
To, Party A/c (balance after deduction of tds from exp.)

Answer / ravindra kumar

party a/c Dr (full amt.) 10000
cash/bank a/c cr. 9000
tds a/c (liabilities) cr. 1000

Answer / vikrant

In case of Payment Booking (Example)

Revenue(Expenses) A/c Dr. 101
To Party A/c Cr. 100
To TDS Payable A/c 1

While making payment to Govt.
TDS Payable A/c Dr. Rs.1/-
to Bank A/c Rs.1/-

If TDS on Provision

Revenue(Expenses) A/c Dr. Rs.101/-
to Provision(Libilities) A/c Rs.100/-
to TDS payable A/c Rs.1/-

Answer / sandeep

debit the account on which TDS dedcuted
credit TDS payable account

Answer / kalpana janardhane dudhate

TDS Deduction Means Which ever is Earlier
If Payment made without Bill so TDS Deduction is liable on
the payment
About Entry
Party A/c -Dr
TDS A/C -Cr
Cash/Bank Account -Cr
If bill come early payment made after
so entry
for eg they provide service on professional like consulting
charges
Professional Fees Ac -dr
TDS a/C -cr
Party a/c - cr

Regards,
kalpana
8828142221

Answer / nitin kumar 971783002

transport a/c dr.
to party


party a/c dr
to tds payable

tds payable a/c dr
to bank/cash

Answer / manish

If tds is deducted against bill raised by you, then it will
be treated as current asset. The accounting entry for the
same will be as follows.

Dr. Cash / Bank account (When payment is received)
Dr. TDS Receivable account.
Cr Vendor Account

Answer / chandan kumar - 8976922555

Sorry i dont know right to ask question.
My question is if someone ( party ) deduct TDS from from our Invoice, what will be entry in the books of accounts as well as in tally. Please reply me.

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