TDS borne by company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
Hi,
Suppose prof charges is Rs 20000 and tds on this amt is Rs 2000 (borne by company) what is the accounting entry-whether this tds amt Rs 2000 is to be accounted as rates and taxes or prof charges??
regards
Suppose prof charges is Rs 20000 and tds on this amt is Rs 2000 (borne by company) what is the accounting entry-whether this tds amt Rs 2000 is to be accounted as rates and taxes or prof charges??
regards
07 September 2010
In my opinion, it is professional chargesand you should pass the accounting entry for Rs 20000/90*100=22222.00 as professional chages.Tds should be Rs.2222.00.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
Thanks
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