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

Answer Posted / sunny

SALARY A/C DR. 50000
TO SALARY PAYABLE 45000
TO TDS ON SALARY A/C 5000

SALARY PAYABLE A/C DR. 45000
TO CASH/BANK A/C 45000

TDS ON SALARY A/C DR. 5000
TO CASH/BANK A/C 5000

Is This Answer Correct ?    18 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what do you mean by cenvat? and in which is liable?

2742


interest paid to bank rs. 15000 in connection with overdraft obtained for paying dividend.

3953


what is the entry tax explain briefly?

1721


Our business is an international call center. we are selling antivirus which is buying rs 200 & selling Rs 4500.what will be the purchase & sales.& what will be taxation processor to calculate tax

1727


i am new to this tax system if you don't mine "please help me"

1517






AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT

1746


What is the value of the Budget for 2009-10

1550


Define the term "Manufacturer"as introduced in finance act2010.

1680


i have paid P-TAX ( employee ) in EC code & P- TAX ( COMPANY)paid in RC code.how can i solve this poblem?

2821


if the reparing & machinery maintanance for one party the whole year payment paid rs.75000/- crossed than tds is deducted from amount

1462


What are the deductions under salary head? Name the items.

640


How can company withdraw the amount of Group Superannuation of the employee who has left the job before completion of one year ?

1550


we charge service tax in our Invoice.we pay it in time. At the end of the year other party gives his deduction as certificate. what to do with it ? how to submit again to tax authorities?

1452


Hai iam a VAT Registered dealer am a manufacturer and am going to sell my products to unregistered dealers i can pay d 4% vat.. how can i make my bill format for this sgrc.gy@gmail.com. anybdy kno means pls mail me.

1604


About vat, service tax, tds, cenvat

2710