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

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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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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