hello can any body tell me what are the entries to pass in tally for tds? give me entries with examples? iam working in a pvt company dealing the accounts independently?
9 Replies
L KANAGARAJ
(Assistant Manager-Finance)
(615 Points)
Replied 25 September 2008
1. Gateway of Tally----> Voucher Entry (Accounting vouchers)-------> F9 (purchase)-------> Class--> Not applicable.
2. As voucher entry(Ctrl.V)
3. Ref. Bill No & Date
4. Parties A/c Cr Rs. Total Bill Value (-) TDS rate.
TDS on contract A/c Cr. Rs. TDS Rate
Labour charges A/c. Dr. Rs. Bill Value.
CA Kavish Dhingra
(Chartered Accountant)
(125 Points)
Replied 26 September 2008
| Originally posted by :pavankumar | ||
| " | hello can any body tell me what are the entries to pass in tally for tds? give me entries with examples? iam working in a pvt company dealing the accounts independently? | " |
Attachment is TDS rate chart
Attached File : 46 tdspac ratecard 0809 (3).pdf downloaded: 440 times
T.S.Mohana Harish
(Audit Assistant)
(163 Points)
Replied 02 December 2008
how to put tds entry for eg : commission received from Bajaj Allianz Rs 50000, T.DS = 5570 under which heads to be categorised he is a individual pl hel me
T.S.Mohana harish , harish_ts1984 @ yahoo.com
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9060 Points)
Replied 28 March 2009
bank a/c Dr. 44430
TDS recievable a/c Dr. 5570
To commission a/c 50000
TDS will be shown under the head advances and will be set off against income tax payable by you
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 04 April 2009
Mr. Pavankumar
Firstly U clarify your querry. There r 2 types of TDS.
1. TDS Receivable : dedcted by the person who make the payment to U
2. TDS Payble : deducted by U, to whom U make the payment .
Please tell mwe which wntries U need
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 04 April 2009
Mr. Pavan
For TDS Receivable U can pass entries in this way
1. If U receive payment : ( Follow Cash system )
TDS Receivable Debit
Bank Debit
Commission Receipts Credit
( or Whatever Income )
If U make provision ( Follow Mercantile basis )
TDS Receivable Debit
Party A/c Debit
Commission Receipts Credit
( or Whatever Income )
TDS Payable : ( Follow Mercantile basis )
Expenses Debit
Party A/c Credit
TDS Payable Credit
In case U make payment ( Follow A/c Cash Basis).
Expenses Debit
Bank A/c Credit
TDS Payable Credit
Pl. U may Call for further detail : Surana, Chennai, 9952967237
K MANJUNATHAN
(Asst Finance Manager)
(27 Points)
Replied 20 February 2014
Thanks Mr.Surana sir.
Manjunatha
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
Related Threads
CAclubindia
