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Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same
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Answer / amit shelar
Professional Fees A/c.... dr 300000
to ABC & CO cr. 26910
to tds on Professional fees 3090
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / vaishali pawaskar
proffessional fees a/c .....dr 30000
to abc & co 30000
(Being provision for the proffeessional chrges)
consultant abc A/c .........dr 30000
to bank a/c 27000
to tds on prof fees 3000
(being paid proffessional chrges with tds @10%)
| Is This Answer Correct ? | 2 Yes | 0 No |
Professional Fees A/C Dr 30,000
To ABC&Co 30,000
(Being Provision for Professional Fees)
ABC&Co A/C Dr 30,000
to BAnk A/C 30,000
(Being actual payment For Pro. Fees)
| Is This Answer Correct ? | 24 Yes | 23 No |
Answer / hiren vakta
1. Journal Entry
Professional Fees Dr.30000.00
To ABC & Co 27000.00
To TDS on P&T Fees 2700.00
(being jv toward professional fees toward ABC & Co as
per bill no.010 dtd.01/04/2010 attached herewith for FY
2010-11)
2. Bank Payment
ABC & Co Dr.27000.00
To Bank A/c 27000.00
3. Bank Payment
TDS on P&T Fees Dr.3000.00
To Bank A/c 3000.00
Note: Cess & SHEC is been removed on TDS for all w.e.f
01.07.2009.
| Is This Answer Correct ? | 12 Yes | 11 No |
Answer / nivedita paunikar
Professional Fees A/c. Dr. 30000=00
To TDS on Professional Fees ( 10.30 % ) 3090=00
To Cash / Bank 26910=00
( Being Professional Fees Paid to ABC Co. and TDS deducted
@ 10.30 % )
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / sridharan.v
i)Professional fees A/c Dr. 30,000
To ABC & Co. 26,910
To TDS on Professional 3,090
(Being provision for professional fee [due])
ii)ABC & Co. Dr. 26,910
To Bank A/c 26,910
(Being professional charges paid to ABc$co)
| Is This Answer Correct ? | 5 Yes | 5 No |
Answer / chaitanya
Professional fees a/c Dr 300000
To consultant ABC a/c 29250
TO TDS A/C 750
(Being amout paid to ABC consultants and reduction of
amoutn on tds at 2.5)
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / neeraj chandra sahoo
Professinal fee a/c dr.30000
Service tax a/c(12.36%) dr 3708
Tds payable a/c cr.3000
Abc
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / neeraj chandra sahoo
Professinal fee a/c dr.30000
Service tax a/c(12.36%) dr 3708
Tds payable a/c cr.3000
Abc
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / ca rits patel
Prof. fees exp a/c .dr42500
Cenvat credit of S.T a/c .dr7000
SBC expense a/c .dr250
KKC payable a/c .dr250
To creditor a/c40000
To TDS payable @194 J a/c10000
| Is This Answer Correct ? | 0 Yes | 0 No |
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