What will be journal entry for TDS deducated from an
freight payment of RS. 15000.00 , applicable TDS rate is
2.266%
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Answer Posted / pradeep gupta
FREIGHT A/C DR 150000
TO PARTY A/C 14660
TO TDS PAYABLE A/C 340
(AMOUNT OF FREIGHT CHARGES )
TDS PAYABLE A/C DR 340
TO BANK/CASH A/C CR 340
(BEING AMT OF TDS DEPOSIT)
PARTY A/C DR 14660
TO BANK / CASH 14660
(BEING AMT PAID TO PARTY AGAINST BILL NO....)
| Is This Answer Correct ? | 12 Yes | 1 No |
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