tds on salary

This query is : Resolved

Sanoj Kr. Sharma (Querist)
Follow

10 August 2010 tds deducted on salary is on payable basis or paid basis.

entry in tally:

basic dr. 100
To tds cr. 10

OR

Basic dr. 100
to tds cr. 10
to bank cr. 90

Can i make provision for tds payament in case of salary or it is deducted when i paid salary.

pls. clarify

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

10 August 2010 TDS on salary we can take provision

Dr:Basic
Cr: TDS
Cr: Salary payable

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

10 August 2010 TDS u/s 192 is deductible at the time of payment.

However provision for TDS could be made also.

Upgrade to CAclubindia Pro. Subscribe Now!

Sanoj Kr. Sharma

Sanoj Kr. Sharma (Querist)
Follow

10 August 2010 if we make provision for tds on salary on 30th 0e 31st of every month and paid in next month on 2nd of avery month then it will be deposited for that month on which we make provision or in the month of payement is made.

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

10 August 2010 It will be deposited for the month of provision.