Hi
Can someone give the entries for TDS on salaries payable and paid please
Txs
4 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 10 June 2023
Salary A/c Dr
To Salary payable A/c Dr
To TDS on Salary A/c Cr
( salary payable after TDS deduction)
TDS on Salary. A/c Dr
To Bank. A/c Cr
( TDS deposited in Government account)
TDS on Salary A/c , under Duties and Taxes , Current liability side , Balance sheet.
sabyasachi mukherjee
(27574 Points)
Replied 11 June 2023
You hv not considered other statutory liabilities dues.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 12 June 2023
@ Dear Sabyasachi Mukherjee
I had reply as per the query which was only for TDS as per your query entry as follows.
Salary A/c Dr
To Salary payable A/c Cr
To TDS payable. A/c Cr
To P F A/c Cr
To ESIC A/c Cr
To professional Tax A/c Cr
( Salary payable after deductions )
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 12 June 2023
Oh yeah I have other entries noted but I'm interested in only TDS. But good to know all in a single shot.
I also wanted to employee benefits related assets and liabilities.
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