Hello 2 all,
I have an doubt on this entry is it right? pl. answer.....
My query is that if my company is paying rent say for Rs. 46K directly from h.o through cheque so entries would be at HO level and Branch level as follows:
AT BRANCH LEVEL:
Office Rent Dr. 46K
Head office A/c Cr. 46k
AT HO LEVEL:
Branch A Dr. 46K
TDS Payable Cr. 4.6K ( @ 10%)
Bank A/c Cr. 41.4k
and on payment TDS Payable Cr. 4.6k
Cash/Bank Cr. 4.6k