RENT ENTRY..IN GST...AND TDS..
PANKAJ BHATI (accountant) (63 Points)
10 March 2018
i want to..rent paid entry..if someone paid 1lakh rent mothly..how will treat in tally..kindly..updates..
11 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 March 2018
Journal :
Dr. Rent Paid / Payable A/c - Rs. 100000
Cr. Landlord A/c - Rs. 100,000....
Dr. Landlord A/c - Rs. 10,000
Cr. TDS Payable A/c - Rs. 10,000
Payment :
Dr. Landlord A/c - Rs. 90,000
Cr. Bank A/c - Rs. 90,000....
TDS Payment :
Dr. TDS Patable A/c - Rs. 10,000
Cr. Bank A/c - Rs. 10,000....
Dr. Rent Paid / Payable A/c - Rs. 100000
Cr. Landlord A/c - Rs. 100,000....
Dr. Landlord A/c - Rs. 10,000
Cr. TDS Payable A/c - Rs. 10,000
Payment :
Dr. Landlord A/c - Rs. 90,000
Cr. Bank A/c - Rs. 90,000....
TDS Payment :
Dr. TDS Patable A/c - Rs. 10,000
Cr. Bank A/c - Rs. 10,000....
Aashish Sachdeva
(839 Points)
Replied 10 March 2018
Journal
Rent A/c Dr. 100000
To Party 90000
To Tds payable 10000
Party A/c Dr. 90000
To Bank 90000
Tds payable A/c Dr 10000
To Bank. 10000
Its my personal opinion, if anybody have different view then views are welcome. thanks. DISCLAIMER:ITS NOT PROFESSIONAL ADVICE.
Rent A/c Dr. 100000
To Party 90000
To Tds payable 10000
Party A/c Dr. 90000
To Bank 90000
Tds payable A/c Dr 10000
To Bank. 10000
Its my personal opinion, if anybody have different view then views are welcome. thanks. DISCLAIMER:ITS NOT PROFESSIONAL ADVICE.
Aashish Sachdeva
(839 Points)
Replied 10 March 2018
if opposite party charge gst then gst is used as input credit....
Rent A/c Dr.
GST A/c Dr.
To party
To TDS
As per my personal opinion, if anybody have different view then views are welcome.thanks. Disclaimer: it is not Professional Advice.
Rent A/c Dr.
GST A/c Dr.
To party
To TDS
As per my personal opinion, if anybody have different view then views are welcome.thanks. Disclaimer: it is not Professional Advice.
Chandra Sekhar
(Qualified Chartered Accountant)
(6 Points)
Replied 25 March 2019
Journal Entry
Dr Rent A/c 1,00,000
Dr Input CGST 9,000
Dr Input SGST 9,000
Cr Landlord A/c 1,18,000
Payment
Dr landlord A/c 1,18,000
Cr Bank A/c 1,18,000
And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively.
shahyar husain
(1240 Points)
Replied 06 November 2020
| Originally posted by : Chandra Sekhar | ||
 |
Journal Entry Dr Rent A/c 1,00,000 Dr Input CGST 9,000 Dr Input SGST 9,000 Cr Landlord A/c 1,18,000 Payment Dr landlord A/c 1,18,000 Cr Bank A/c 1,18,000 And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively. |
 |
Can I deduct TDS with rent on GST?
Mani Sharma
(2 Points)
Replied 13 December 2020
BOOK ENTRY
RENT AC DR 100000
IGST DR 18000
TDS ON RENT CR 10000
PARTY A/C 108000
PAYMENT ENTRY
PARTY A/C DR. 108000
TDS A/C 10000
TO BANK 118000
M Venkat
(CA finalist)
(456 Points)
Replied 08 January 2021
| Originally posted by : shahyar husain | ||
|
Originally posted by : Chandra Sekhar Journal Entry Dr Rent A/c 1,00,000 Dr Input CGST 9,000 Dr Input SGST 9,000 Cr Landlord A/c 1,18,000 Payment Dr landlord A/c 1,18,000 Cr Bank A/c 1,18,000 And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively. Can I deduct TDS with rent on GST? |
|
TDS has to be deducted on the amount without including the GST in it.
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