Accounting treatment of TDS Payable

A/c entries 2343 views 2 replies

Job

118 Points Joined August 2007

HI All,

Please anyone tell me the accounting treatment of TDS Payable.

Thanks & Regards,

Replies (2)

Guest

Example:

Audit fees = Rs. 100

TDS Rate is 10%

Journal entry

Audit fees a/c 100

To Party's Name a/c 90

To TDS Payable a/c 10

when you pay TDS to the govt

TDS Payable a/c 10

To Bank a/c 10

ERP FINANCIAL CONSULTANT

85 Points Joined March 2010

i agreed with above question

Summarize this with AI

Your are not logged in . Please login to post replies

Click here to Login / Register