Accounting for TCS
This query is : Resolved
02 November 2009
Hello to all,
I want to know about the accounting for the Tax collected at source.
the person collected Tax at source and deposited that with the Govt. so what would be the accounting entry for that.
I want to know about the accounting for the Tax collected at source.
the person collected Tax at source and deposited that with the Govt. so what would be the accounting entry for that.
02 November 2009
just like Vat or CSt credit and deposit TCS will also credit and deposit to Govt.
02 November 2009
Agree with expert,
Credit TCS as liability at the time of Sale/receiving payment from buyer and reverse(debit) TCS at the time of deposit with Govt.
Credit TCS as liability at the time of Sale/receiving payment from buyer and reverse(debit) TCS at the time of deposit with Govt.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
