What will be journal entry for TDS deducated from an
freight payment of RS. 15000.00 , applicable TDS rate is
2.266%
Answer Posted / gaurav dixit
FREIGHT A/C DR 15000
TO BANK /CASH A/C 14660
TO TDS PAYABLE A/C 340
(AMOUNT OF FREIGHT CHARGES )
IF PARTY NAME NOT MENTION
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My Question is regarding WCT. During an audit of a company, i saw a contractor consolidated invoice for installation at site in which it shows labour charges and goods supply separately and no service tax and vat is charged. The company pay the whole amount to contractor after deducting TDS. my question is whether WCT also deducted? if deducted at which rate if company in gurgaon?
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