Tds entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 April 2013
I paid Commission and deducted tds what is entries for the same
23 April 2013
Say for example
Rs 100 Invoice amount
Rs 10 TDS
Rs 90 Payment
Now Entries would be as follows
Expense A/c Dr 100
To Vendor 90
To Tds 10
Payment entry would be as follows
Vendor A/c Dr 90
Tds A/c Dr 10 - At the time of payment
To Bank A/c 100
Rs 100 Invoice amount
Rs 10 TDS
Rs 90 Payment
Now Entries would be as follows
Expense A/c Dr 100
To Vendor 90
To Tds 10
Payment entry would be as follows
Vendor A/c Dr 90
Tds A/c Dr 10 - At the time of payment
To Bank A/c 100
30 June 2013
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