i received annual inncentive received with deduction of TDS
from My suplier. Total amount 100000/- Inncentive.Rs.90000/-
Tds Rs.10000/- how to take entry in my books.
Answer Posted / manoj kumar
Inncentive A/C Dr. 90000
TDS A/C Dr. 10000
To Supplier A/C 1,00,000
(being amount paid agt. inncentive income)
If this entry is not correct,plz.send me right answers on my
email.ID MY Email ID is mkmanoj338@gmail.com
| Is This Answer Correct ? | 6 Yes | 4 No |
Post New Answer View All Answers
which form no's wiil be used for filing IT,ADVANCE TAX, TDS,VAT,CST,ST,PT,EXICE DUTY,ESI,PF?What is the Due Dates? very urgent
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
IS THERE IS ANY EXUMTION FOR THE NEW CONCER TO NOT THE DEDUCT TDS IN THE 1st YEAR OF ITS INCORPORATION IF THE TURNVOER EXEED THE SPECIFIED LIMIT IN THE 1st YEAR.
i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income
when charges PURCHASE @ 12 % TAX RATE ?
CAN TWO VECHILE PASS TO RAJASTAN FROM NASIK ON ON ROAD PERMIT
how to caluclate the mumbai tax with example? what is mean by credit and debit ?
we issued the H form for the 1st quarter 2014-15 but in the 2A we posted the wrong TIN no of party and H form is also contains the wrong TIN No.if anybody know the correct procedure for correction of H Form kindly tell us.
in case of vehicle hired for staff pick up & drop for 1 month or 1 year, TDS is applicable ? if yes then which code is mention in challan & which rate is applicable ? in case of vehicle orner is personal or company which rate applicatble ?
what is the full rate of cst/vat of building material ?
If any new form open than we are able to deduct TDS on first year
what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.
Pls give a details knowledge of Income Tax (including TDS, TCS)duty paid online form no., due date, return form no. and due date, limit of turnover for auditing, procedure of auditing and income tax depreciation, etc.
WHAT IS TDS?SHOULD WE FILE TDS TO PURCHASE A THING .SHOULD WE PAY BOTH TDS &TCS FOR THE SAME THING
WHEN FORM VAT R-2 USE?