Journal entry for tds on salary and incentive
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2018
Incentive is being paid in advance to the employee and then expenses are being booked accordingly.
One journal entry is being passed:
1.Incentive to employee a/c dr
To TDS on Salary a/c
2.TDs on Salary a/c dr
To Bank a/c
Is the above entry proper as per the accounting standards and income tax?
One journal entry is being passed:
1.Incentive to employee a/c dr
To TDS on Salary a/c
2.TDs on Salary a/c dr
To Bank a/c
Is the above entry proper as per the accounting standards and income tax?
28 February 2018
Have you deducted TDS on that incentive part ?
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2018
Yes incentive is being deducted on the incentive part.
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