Dear Sir/Madam,
Normally we received courier bill along with service tax when we pay we ommitted service tax amount & calculated TDS on bill amount excluding service tax. Nowadays courier bill added fuel charges also. Hence kindly clarify how to deduct TDS on BIll amount.
I normally received bill like:
Bill Amount xxxxxxx
+ Fuel charges XXXXXX
+ Service Tax XXXXXX =
Total Bill Amount XXXXX
Thanks & Regards,
B.Rajeswari
| Originally posted by :BINUMS | ||
| " | Dear All First of all I explain my doubt with the help of an example.Say Mr.A is working in a company called A Ltd which is dealing in providing courier services.They provided courier services to B Ltd for Rs.2800.Now when B Ltd account this courier bill they deduct TDS at the rate of 2.060% (58 Rs) and give only 2742 (2800-58) credit to ALtd and they will issue TDS certificates also.Now my question is how A Ltd accounts this TDS.First A Ltd are debiting Rs.2800/- to B Ltd,and B Ltd now only give Rs.2742 only.So through what entry A Ltd account this TDS deduction.I hope u people understand my querry.............Please share your views. Thanks In Advance BINUMS |
" |
In the books of A Ltd (Courier Company)
1> Entry for Providing Service to B Ltd
B Ltd A/c 2800
To, Courier Service Receipt A/c 2800
2> Entry for receipt of payment from B Ltd
Cash / Bank A/c 2742
Tax Deducted at Source A/c 58
To, B Ltd A/c 2800
OM PRAKASH
(ACCOUNT EXECUTIVE)
(21 Points)
Replied 02 June 2012
Dear
First B company pass JV ENTRY
postage courrier exp----------------Dr 2800
A Ltd A/c------------------------------------------Cr 2742
Tds A/c---------------------------------------------Cr 58
Payment Times to A Ltd
A Ltd A/c--------------------------Dr 2742
Bank Ltd------------------------------------------2742
when time tds deposit to govt
TDs Payable A/C----------Dr-58
To Bank A/c---------------------------------------58
TDs Issue certificate by B Company
TDs issued -----------Dr 58
to B Ltd------------------------------58
A Pass The Entry
Bank Ltd--------------------------2742 Dr
TDs-----------------------------------58 Dr
B Ltd------------------------------------------2800 Cr
R GUPTA
(student)
(26 Points)
Replied 09 April 2017
plz tell me how tds account is treated after the payment of income tax or received refund
R GUPTA
(student)
(26 Points)
Replied 09 April 2017
PLZ TELL ME WHICH TYPE OF BANK ACCOUNT( CURRENT OR SAVING) IS NECESSARY FOR A HUF BUSSINESS.....
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
