Answer / chandra.g

if Gross salary is 121000.

Journal entry will be.

By Salary A/C Dr Rs.121000
To Salary payable A/C cr Rs.109800
To Professional tax payable A/C cr Rs. 200
To Tds on salary A/C Cr Rs. 11000

Payment entry will be.
By Salary paid A/C dr Rs.109800
To Cash/ Bank A/C cr Rs.109800


For Rent entries are as follows.
IF rent is 21000

Journal entry will be.

By Rent A/C dr Rs.21000
To Rent payable A/C cr Rs.18900
To Tds on rent A/C cr Rs. 2100


Payment entry will be.
By Rent payable A/C dr Rs.18900
To Cash/ Bank A/C cr Rs.18900

Answer / Deepak Chandra

The entry for TDS (Tax Deducted at Source) on salaries, directors' remuneration, and rent would typically be made in the relevant tax ledger in your accounting software. The details required may include the name of the payee, the amount of income subject to TDS, the rate of TDS, and the TDS certificate number (if applicable).

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