Tds on salaries and rent - regarding

This query is : Resolved

venkat (Querist)
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16 April 2012 Dear Sir/Madam,

i would like to know the information about TDS on Salaries and Rent how to post the
entries in Tally software kindly provide me entries and examples

Regards

venkat

venkatseven@yahoo.com

Mihir Doshi

Mihir Doshi (Expert)
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16 April 2012 TDS on salaries at normal rate of income tax (depend upon the employees salaries)

Rent on building @ 10% while hiring of plant and machinery @ 2%.

Entry:
Rent a/c Dr
To party's A/c
To TDS payable A/c (Rent @ 10%)

At the time of payment
TDS Payable A/c Dr
To Bank a/c

Entry will be same with Salary TDS and payment.

Thanks
Mihir Doshi

Message likes : 1 times

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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16 April 2012 agree with expert

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CA Prasanna

CA Prasanna (Expert)
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16 April 2012 Hi all,

The answer is perfect.
Just like to add couple of more points-
1) Use Journal voucher in tally while passing the Rent or Salary entry.

2) Use payment voucher (F5) for recording the payment of TDS and Salary.

Regards
CA Prasanna Subhash Shukla