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what is tds?
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TDS Full form is Tax Deducted at Sourch
When we paid the commission , payment we are deduct the TDS and issue Form 16 to customer/Party
Entry :-
Entry in Journal ( In Tally F7)
1.Dr. By Fees for technical Service Rs -10000/-
Cr. To Party A/c Rs- 10000/-
2. By Party A/c Rs.-3366/-
To TDS on Technical Service Rs.-3366/-
3. By Fees on Technical Service A/c Rs.-10000/-
To Party A/c Rs.-6634/-
To TDS on Tec. Services Rs.-3366/-
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / hemant
TDS : Tax Deduction on Source
It is part of income tax
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / malli
TDS full form is tax deduct from source
TDS nothing but reserve of income tax.
| Is This Answer Correct ? | 1 Yes | 0 No |
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