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If the Rent paid amount including TDS Amount and Service
tax. and the company effecting for input tax what will be
the entry we need to pass in books...pls help me out.
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Answer Posted / latika
1.RENT PAID A/C - DR. 10,000/
SERVICE TAX INPUT DR.- 1236/-
TO PARTY A/C - CR 11236/-
(RENT PAYABLE TO PARTY )
2.PARTY A/C - DR- 1123.6/-
TDS PAYABLE ON RENT A/C CR.-1123.6/-
(TDS CHARGED ON RENT PAID)
3.PARTY A/C- DR- 10112.4/-(11236-1123.6==>TDS AMT)
TDS PAYABLE A/C -DR.1123.6/-
SERVICE TAX PAYABLE A/C -DR.1236/-
TO SERVICE TAX INPUT A/C -CR 1236/-
TO BANK A/C CR- 11236/-
(AMT PAID TO PARTY AND TDS AMT SUBMITTED TO BANK)
| Is This Answer Correct ? | 2 Yes | 7 No |
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