Accounting treatment in cash book...

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2013 Ours is Non profit Orgn.
Problem: I.Tax deducted from contractors payment but not credited.How to account for in the cash book...

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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03 January 2013 Whenever You Make Payment:-

contractor bill dr.
to bank

when tds paid:-

contractor bill tds(expoenses) dr.
to bank a/c

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2013 AYUSH, THE CASE IS AS FOLLOWS:

DECEMBER
LEGAL CHARGES 15000
IT 1500

WHAT WILL BE THE ENTRY?CAN U PLEASE TELL ME..
LEGAL CHARGES IS IMMEDIATELY PAID, BUT TDS PAYABLE TO IT DEPT NEXT MONTH...AND HOW WILL IT BE REFLECTED IN THE CASH BOOK.

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