Which entry
This query is : Resolved
03 March 2016
I have a firm and I give legal expenses of Rs.100000 out of which I deduct TDS of Rs.10000 and the payment/withdrawal from bank is 90000.Which entry I will make and how? And further this TDS has been deposited by lawyer,so which entry I will make here?
PLEASE ELABORATE.
PLEASE ELABORATE.
03 March 2016
1) Expenses Ac Dr. - 100000
to TDS Payable Ac. - 10000/-
to Fees Payable or Advance Ac - 90000/-
2) Bank payment of TDS to govt
TDS Payable Ac Dr. - 10000/-
to Bank Ac. - 10000/-
to TDS Payable Ac. - 10000/-
to Fees Payable or Advance Ac - 90000/-
2) Bank payment of TDS to govt
TDS Payable Ac Dr. - 10000/-
to Bank Ac. - 10000/-
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