Journal entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2016
What will be journal entry.

1. we purchase of material on credit of Rs 1000 / - & deducted TDS of Rs 100 /

2. we sale material on credit of Rs 2000 /- & deduct TDS of Rs 200 / -

Waiting for feedback.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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22 February 2016 Normally Purchase or Sales there will be no TDS.
you can debit Respective Purchases Rs.1000/-Credit Supplier Rs.900(AMount Payable) Credit TDS Rs.100 ( Statutory Deduction) Vice versa for Entering Sales