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Section 194R TDS - Journal entry in the books of the company

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(Querist)
20 December 2023 Suppose, we have purchased gold coins from a vendor to give it to dealer for achieving the Sales target.

What will be journal entry in the books of the company and the dealer?

Let be the gold coin value is Rs. 1000.
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CMA Sagar Das

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CMA Sagar Das (Querist)
21 December 2023 Please reply to the query
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CMA Sagar Das

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CMA Sagar Das (Querist)
21 December 2023 Query is not resolved , please reply
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Asha Kanta Sharmapro badge online

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Asha Kanta Sharmapro badge online (Expert)
16 January 2024 1. Purchase Entry :
Gold Coins - Dr.
Cash/Bank/ Vendors - Cr

2. Given to Vendors :
Sales and Promotion Exp - Dr
Gold Coins - Cr.

3. In the books of dealer :
Gold Coins - Dr.
Incentives/Other Income- Cr.

Thanks

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