Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


how to do T.D.S entries in account books

Answers were Sorted based on User's Feedback



how to do T.D.S entries in account books..

Answer / d

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

Is This Answer Correct ?    68 Yes 12 No

how to do T.D.S entries in account books..

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.)

Is This Answer Correct ?    46 Yes 8 No

how to do T.D.S entries in account books..

Answer / ravindra kumar

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

Is This Answer Correct ?    44 Yes 6 No

how to do T.D.S entries in account books..

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/-

Is This Answer Correct ?    32 Yes 5 No

how to do T.D.S entries in account books..

Answer / sandeep

debit the account on which TDS dedcuted
credit TDS payable account

Is This Answer Correct ?    33 Yes 16 No

how to do T.D.S entries in account books..

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

Is This Answer Correct ?    18 Yes 2 No

how to do T.D.S entries in account books..

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

Is This Answer Correct ?    9 Yes 3 No

how to do T.D.S entries in account books..

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

Is This Answer Correct ?    4 Yes 1 No

how to do T.D.S entries in account books..

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.

Is This Answer Correct ?    2 Yes 1 No

Post New Answer



More Taxation Interview Questions

in gujarat. whether Vat is applicable if H form issue ?

0 Answers  


What is Profession?

3 Answers  


what to in pro

0 Answers   HDFC,


What is the penalty of non payment or late payment of Service Tax, VAT, TDS?

0 Answers  


what is excise duty? what is excise duty percentage on sales?

3 Answers  






excise duty receivable is current asset and does not include in purchase value ?

1 Answers   JPMorgan Chase,


What extra accounts and legal formalities are maintened In excise firm other then normal saling firm.? also tell me tax aspect in Excise firm?

0 Answers  


Haii My daily wage is 500. And the minimum working days will be 23 in a month. How can i calculate my pf and esi

1 Answers   Banking,


WHAT IS THE TDS RATE FOR ASSESSMENT YEAR 2010-11 FOR DIFFERENT CATAGORIES??????????????

4 Answers  


What is meaning of MAT? please explain in detail with an example?

10 Answers  


what is the different between CST , VAT, and Excise Duty ?

3 Answers   Dabur,


What are the documents to be sent along with the stock sent by courrier to other branch. Its only internal transfer. Will it be enough if we dispatch by Delivery challan?

1 Answers  






Categories