Rent receivable entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2015 A co. has to receive rent for the month of march of Rs.20000 out of which Rs.2000 will be deducted by tenant and 18000 would be received.

how to book receivable entry of this in the month of march. The concerned person has booked as:-

Rent receivable Dr...............20000
To rent received.......................20000

is it right????????

Vishnu Saboo

Vishnu Saboo (Expert)
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31 March 2015 deduction is on what account?
this deduction must be accounted off.

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2015 Deduction on account of TDS

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CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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31 March 2015 Rent receivable 18000
TDS Receivable 2000
To rent received 20000

Vishnu Saboo

Vishnu Saboo (Expert)
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31 March 2015 at the time of creating income

rent receivable a/c/tenant a/c Dr 20000
To rent received 20000

at the time of receive
Bank a/c dr 18000
TDS receivable Dr 2000
To rent receivable a/c/tenant a/c 20000

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2015 As per logic entries of Mr. Ankit are correct. But Mr. Ankit
if tenant gave cheque of the date of April month then also i have to book in this way?????and
if in 26as also tds reflected for A.Y.16-17 instead of A.Y.15-16 then???