Accounts
This query is : Resolved
11 February 2015
IF 1 company is paying tds on behalf of other company then do we have to pass 2 entries?
1. jv for tds
2. payment entry
or only payment entry
1. jv for tds
2. payment entry
or only payment entry
11 February 2015
1. TDS ( PAYMENT ENTRY)
TO BANK
2. OTHER CO. ( DEBIT NOTE ENTRY)
TO TDS
3. BANK ( RECEIPT ENTRY)
TO OTHER CO.
TO BANK
2. OTHER CO. ( DEBIT NOTE ENTRY)
TO TDS
3. BANK ( RECEIPT ENTRY)
TO OTHER CO.
13 February 2015
i passed the following entries
xyz co
1. payment of tds on behalf of abc
abc co
to bank
2. receipt of tds from abc
abc
to bank
(these entries are getting set off)
abc co
1. tds entry (jv)
tds
to xyz
is this correct?
xyz co
1. payment of tds on behalf of abc
abc co
to bank
2. receipt of tds from abc
abc
to bank
(these entries are getting set off)
abc co
1. tds entry (jv)
tds
to xyz
is this correct?
13 February 2015
Riddhi,
what i show you are the entries you need to pass in the Company who is paying TDS on behalf of other Co.
Btw y abc to bank twice in the books of xyz ltd
what i show you are the entries you need to pass in the Company who is paying TDS on behalf of other Co.
Btw y abc to bank twice in the books of xyz ltd
13 February 2015
WHAT I SHOWN IS TECHNICALLY CORRECT FIRST DEBIT THE ENTIRE AMT IN TDS 9 INCLUDING YOUR PART OF TDS ) LEDGER AND THAN PASS THIS DEBIT NOTE ENTRY
13 February 2015
those two entries are for payment and receipt.
K Cleared. Thanks
K Cleared. Thanks
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