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My firm got Rs.1,00,000/- as consultancy charge after deducting Rs.10,000/- as TDS. Now we have to pay Rs.15,000/- as Service Tax. Net effect we will receive only Rs.75,000/-. How can i account this.
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Answer Posted / noor mohammad
Bank A/c Dr 90,000
TDS A/c Dr 10,000
to Sundry creditors A/c 100000
&
Service tax a/c 15000
bank a/c 15000
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