I have deducted the tds against advace payment on 150000 ie
3000 paid to govt, in jan month in april month i rec
300000 bill so how to adjust the previous advance tds in
this bill
Answer Posted / amit kumar tiwari
Take provision Rs.300, 000 as per vendor confirmation up to 31 March after that total bill will book in April in receptive heads and tds will deduct Rs.3000/- suppose your vendor was supplying printing Materials
31 March
Printing & Stationery Dr.300, 000.00
To Expense payable cr. 300,000.00
(Being Provision taken up to 31 March)
01 April
Expenses payable Dr. 300000.00
To Printing & Stationery Cr. 300000.00
(Being entry reversed)
April when you receive bill
Printing & Stationery Dr.300000.00
To Vendor 297000.00
To TDS on Contract 3000.00
(Bill No………….. for the Period: ……….Tds 3000/- Already deducted Jan )
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
if i have a educational loan on my name, can i show for tax exemption on current year income tax? Is it applicable for tax exemption (educational loan)
please let me know how to show the sales to unregisterd dealers in tn ctd new portal and in which annexure to select for filing sales to unregisterd dealers, cash / consumer sales
What is calculate of tds
why VAT not charged in deemed sales bill.
WHAT WE HAVE TO IF WE MAKE A BILL 5% CST IN PLACE OF 2% CST AND DIPOSIT THE TAX
Define previous year.
Who advance tax is the asset for company? What are the accounting entries of advance income tax
i want to learn income tax work please tell me about all dedutions exempations and income detail...how to calculate tax on net income
send me all current year taxation such that rates and exemptions or on which web site i have to prefer
what is excise duty and how can we mantain its account in outgoing and incoming of bill status.
What are the streamlined sales and use tax agreement?
Define the term "Manufacturer"as introduced in finance act2010.
Suppose that a sub-contractor total work done for Rs.100 & he charged 10.3% service tax.Then total gross value will RS.110.30.On what amt you will (that means on total work done or total gross value)charged Retention@10%,WCT@3% & TDS@2%.
how to file returne?
what is city commodity tax