Whether entry passed are true regarding excess provision made

This query is : Resolved

Daya (Querist)
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27 May 2022 I have provision made for Rs. 50 K on professional services
and invoice received Rs. 45 K then whether entry made are correct or not.
Professional bills received from ABC Co. Ltd.
Entry for provision made
Professional Charges Dr. Rs. 50,000
To TDS Payable under section 194J Rs. 5,000
To Provision for Professional Exp. 45,000
On receiving invoice
Provision for Professional exp. Dr. 45,000
TDS payable under section 194J Dr. 500
To Professional Expenses Cr. 5000
To ABC Co. Ltd. 40,500
the above passed entry correct or not. please reply.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 May 2022 The entry should be like this.
Provision for Professional exp. Dr. 4500
TDS payable under section 194J Dr. 500
To Professional Expenses Cr. 5000