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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.
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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 |
Answer / jashwin
Bank A/c Dr 39200
Tds A/c Dr 800
To Party 40000
| Is This Answer Correct ? | 1 Yes | 0 No |
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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