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What accounting Treatment we should do while we received
Amount Rs 39200 After deducting Tds 800 From Invoice Amount
40000. Kindly also explain for deducting Tds should be
booked under which Head of Tally.

Question Posted / bipverma

Answers were Sorted based on User's Feedback



What accounting Treatment we should do while we received Amount Rs 39200 After deducting Tds 800 Fr..

Answer / kiran

Bank A/c Dr 39200
Tds A/c Dr 800
To Party 40000

Is This Answer Correct ?    19 Yes 1 No

What accounting Treatment we should do while we received Amount Rs 39200 After deducting Tds 800 Fr..

Answer / sajjad1

Be Carefully While Passing this Entry if we cr the party
with whole amount then in party ledger it also cr against
whole amount so pass this enrty to show the double effect
in party ledger

Bank A/C 39200 Dr
Party 39200 Cr
TDC 800 Dr
Party 800 cr

So this entry shows against which amounts we cr to the
party. thx

Is This Answer Correct ?    2 Yes 0 No

What accounting Treatment we should do while we received Amount Rs 39200 After deducting Tds 800 Fr..

Answer / jashwin

Bank A/c Dr 39200
Tds A/c Dr 800
To Party 40000

Is This Answer Correct ?    1 Yes 0 No

What accounting Treatment we should do while we received Amount Rs 39200 After deducting Tds 800 Fr..

Answer / utpal bora

Bank A/c Dr. 39200
Tds A/C Dr. 800
To Sundry Debtors A/C 40000


TDS UNDER HEAD "INDIRECT EXPENSES".Because Party all ready
deducted the TDS AMOUNT.

Is This Answer Correct ?    3 Yes 3 No

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