A CLIENT DEDUCED T.D.S @ 2% ON RS.505080. AND WE PASSED A ENTRY FOR THIS
1) PARTY A/C DR. 515181
TO PROFESSIONAL INCOME CR.515181
2) TDS REFUNDABLE DR. 10101
TO PARTY A/C CR. 10101
3) BANK A/C DR.505080
TO PARTY A/C CR.505080
IS THIS ENTRY IS RIGHT ?
| Originally posted by : KHUSHHALL | ||
 |
A CLIENT DEDUCED T.D.S @ 2% ON 505080. AND WE PASSED A ENTRY FOR THIS 1) PARTY A/C DR. 515181 TO PROFESSIONAL INCOME CR.515181 2) TDS REFUNDABLE DR. 10101 TO PARTY A/C CR. 10101 3) BANK A/C DR.505080 TO PARTY A/C CR.505080 IS THIS ENTRY IS RIGHT ? |
 |
yes the entry is correct....we can also merge the first two entries and make the entry to be passed once.........
| Originally posted by : KHUSHHALL | ||
|
|
A CLIENT DEDUCED T.D.S @ 2% ON Rs. 505080. AND WE PASSED A ENTRY FOR THIS 1) PARTY A/C DR. 515181 TO PROFESSIONAL INCOME CR.515181 2) TDS REFUNDABLE DR. 10101 TO PARTY A/C CR. 10101 3) BANK A/C DR.505080 TO PARTY A/C CR.505080 IS THIS ENTRY IS RIGHT ? |
|
yes it is correct
CAclubindia
