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Interest on TDS entry in Tally 9

Rajen (Professional) (122 Points)

03 July 2007

We are Using Tally 9 release 1.21 (English) version.

As per your Tally ref we are booked TDS payable entry on 31.05.07 and due date for payment is 07.06.07. All entries are goes perfectly.

But unfortunatly we are not made a payment on 07.06.07 and make payment on 26.06.07 along with interest.

Now my question is How I pass the entry of Interest payable on TDS on dated 26.06.07.as well as payment voucher along with interest on dt 26.06.07. he simple accounting i know but I want to booked in tally 9 using advance feature of TDS.

Your early action in this matter is higly appreciated. because of this i unable to reconcile my bank a/c also.

Pl it Most Urgent.

Rajen Vora

vora.rajen @ rediffmail.com

vora.rajen67 @ yahoo.co.in

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11 Replies

Nadim Khan (Accounts) (58 Points)
Replied 20 August 2007

Dr "fine & penaltly" ( amount of interest) Dr " TDS Payable" ( amount of TDS) Cr " Bank/cash"

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(Guest)

hi i am using tally 9 , i need entry for tally, one of company tds dicting the company , how to mank entry in tally 9,

(Guest)

Dear Sir,

Please provide me the procedure of TDS entry in Tally 7.2

Thanks

Akshay

(Guest)

MR NADIM IS RIGHT BUT THERE IS ONE MORE SOLUTION FOR THIS

FOR ACCOUNTING ENTRY FOR TDS INTEREST YOU MAY ALSO DEBIT THE AMOUNT TO GENERAL EXPENSES (MISC EXPENSES)

B'COZ AS PER KNOWLEDGE ANY PENALTY/FINE SHALL BE DISALLOWED BY IT DEPT., SO BETTER YOU CAN ACCOUNTING INDIRECTLY.

FOR ANY PAYMENT OF TDS YOU SHOULD DEBIT TO TDS PAYEBLE ACCOUNT AND CREDIT THE CSH/BANK ACCOUNT.

THE TDS ACCOUNT IS A LIABILITY ACCOUNT SO IT SHOULD BE NIL AT THE END WHEN YOU PAY OLL THE DUES.

(Guest)

IN MY VEIW Mr. RAJESH IS RIGHT BECAUSE THE FINE AND PENALTY SHALL BE DISALLOWED BY IT DEPARTMENT, SO WE SHOULD HAVE TO DO ACCOUNTING INDIRECTLY FOR THIS THING , AND ON THE ANOTHER HAND WHEN WE PAY THE TDS LIABLITY THE ENTRY WILL BE TDS PAYABLE ACCOUNT.......Dr. AND CASH / BANK ACCOUNT.......Cr. AND AT LAST WHEN WE PAY WHOLE OF AMOUNT THAN TDS PAYABLE ACCOUNT GET NIL BALACE................................

CHETAN DADHICH

ACCOUNTANT(C.A. Inter)

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Hemant Kumar Joshi (Accounts Manager) (20 Points)
Replied 20 November 2008

As per your Tally ref we are booked TDS payable entry on 31.05.07 Pl Send Fully Entry Tds Payable and due date for payment is 07.06.07. All entries are goes perfectly.

But unfortunatly we are not made a payment on 07.06.07 and make payment on 26.06.07 along with interest.

and Send Salary or Professional Fee Tds Rate Deduction.

Your early action in this matter is higly appreciated. because of this i unable to reconcile my bank a/c also.

Pl send 2 Entries (1) Tds Payable-- Salaries/Security Guard/ Creditors

(2) Tds Paid With out Intrest and Intrest.

Pl it Most Urgent.

Thanks & Regards

Hemant

raju (manager ) (22 Points)
Replied 20 March 2009

how to pass tds entryes in tally & what is the procejur what ledgers in creating please explain

srinivas (a) (24 Points)
Replied 09 March 2011

Pl send this Entries-

Audit fees of Rs.5000 is paid to T.S auditing in cash on 1.6.2007 TDS is also adjusted. (tax @ 10%, surcharge @ 10%, cess @ 2% and edu cess @ 1%) bill no. TSA/01

srinivas (a) (24 Points)
Replied 09 March 2011

how to pass tds entryes in tally & what is the procejur what ledgers in creating please explain

CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 10 March 2011

Originally posted by : Rajen
	We are Using Tally 9 release 1.21 (English) version. As per your Tally ref we are booked TDS payable entry on 31.05.07 and due date for payment is 07.06.07. All entries are goes perfectly. But unfortunatly we are not made a payment on 07.06.07 and make payment on 26.06.07 along with interest. Now my question is How I pass the entry of Interest payable on TDS on dated 26.06.07.as well as payment voucher along with interest on dt 26.06.07. he simple accounting i know but I want to booked in tally 9 using advance feature of TDS. Your early action in this matter is higly appreciated. because of this i unable to reconcile my bank a/c also. Pl it Most Urgent. Rajen Vora vora.rajen @ rediffmail.com vora.rajen67 @ yahoo.co.in

any software whether it is tally or other, does not change the accounting concepts. so don't be confused. the entry will be simple..

TDS payable Dr.

INterest on TDS Dr.

to Bank.

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Dilip Simha G V (Student CA CPT CWA Inter) (123 Points)
Replied 11 March 2011

Originally posted by : srinivas
	Pl send this Entries- Audit fees of Rs.5000 is paid to T.S auditing in cash on 1.6.2007 TDS is also adjusted. (tax @ 10%, surcharge @ 10%, cess @ 2% and edu cess @ 1%) bill no. TSA/01