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how to record journal entry for tds on salary on quarterly
basis?

Answers were Sorted based on User's Feedback



how to record journal entry for tds on salary on quarterly basis?..

Answer / hklkhk

WHEN DUE SALARY THAT TIME ENTRIES ARE FOLLOWING

EMPLOYEE SALARY A/C DR. 30000
TO SALARY PAYABLE A/C 29400
TO TDS PAYABLE A/C 600
WHEN PAYMENT
SALARY A/C DR.29400
TDS.PAYBLE A/C 600
TO. BANK A/C 30000

Is This Answer Correct ?    2 Yes 1 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / syed abuthahir

salary A\C Dr 45000
Tds A\c Dr 5000
TO Cash A\C 5000

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / madhulika

1) FOR DUE...

SALARY A/C.....DR.
TO TDS ON SALARY A/C
TO OUTSTANDING SALARY A/C

2) FOR PAYMENT...

OUTSTANDING SALARY A/C...DR.
TO BANK OR CASH A/C

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / rakesh singh

# Salary a/c Dr. .....

To Tds payable a/c ....
To Salary payable a/c...

# salary payable a/c Dr. ....
Tds payable a/c Dr. ....

To bank a/c .....

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / bipin

salary a/c dr

to salary payable a/c
to tds

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / pankaj kumar mishra

Salary A/c Dr. 50,000
To Salary Payable A/c 45,000
To Tds Payable on Salary A/c 5,000

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / mrutyunjaya

salary A/C dr.30300/-
Tds A/c Cr. 300/-
Salary Payable A/C 30000/-
(Being the salary for the month ofxxxx & tds deducted @1% on
salary)

At the time of Payment

Salary Payable A/C Dr.30000/-
bank/Cash A/c Cr. 30000/-
( Being cash paid to Mr. xxxxx for the month of xxxx)

at the time tds amount deposit in bank

Tds A/C Dr. 300/-
Bank A/C Cr.300/-
( Being tds Deposit in bank vide challan no xxxxx)

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / sourish

salary a/c dr. 30000
to TDS a/c 5000
to Mr. H a/c 25000


Mr. h a/c dr. 25000
to Cash a/c 25000

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / vinay.r

Salary A/C Dr 50000
To Salary Payable A/c 45000
To TDS on Salary A/c 5000

Salary Payable A/C Dr 45000
To Bank A/C 45000

TDS on Salary A/c 5000
To Bank A/c 5000

Is This Answer Correct ?    1 Yes 0 No

how to record journal entry for tds on salary on quarterly basis?..

Answer / aleem

mr praveen answer is 100% right go for it

Is This Answer Correct ?    1 Yes 0 No

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