What is the journal entry for paying 50000 rs. To xyz co.
For professional fees after deducting tds on that.
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Answer Posted / rajat singh sisodiya
1) Professional Fess A/c Dr 50000
To Tds on Professional Fees 194 j 5000
To XYZ Co. 45000
2) XYZ CO. Dr 45000
Tds On Professional Fees 194 5000j
To Bank/Cash 50000
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