Accounts
This query is : Resolved
23 July 2015
If we are receiving fees from 1 client and who is deducting tds so how to book the bill?
i have done it this way
Client dr.
to income
to tds
bank dr
to client cr
is it correct?
tds is on profesisonal fees so can i adjust it with the tds paid on professional fees? as in can i put this also under current liabilities - duties and taxes?
i have done it this way
Client dr.
to income
to tds
bank dr
to client cr
is it correct?
tds is on profesisonal fees so can i adjust it with the tds paid on professional fees? as in can i put this also under current liabilities - duties and taxes?
23 July 2015
As you can eligible to adjust the same , it will be asset for you hence the entry will be,
Bank A/c Dr
TDS receivable A/c Dr
To Fee A/c
The same to be shown in asset side , will adjusted on assessment.
Bank A/c Dr
TDS receivable A/c Dr
To Fee A/c
The same to be shown in asset side , will adjusted on assessment.
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
- Inventory of finished goods
- GST Regis.
- Tds on building rent monthly
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- 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
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
