i have deposited TDS on salary for the month of Jan'10 of an employee but not deducted in his salary. i will deduct that tds amount in this month salary. please let me know how to manage entry in tally
Amod Ranjan (Service) (356 Points)
22 March 2010i have deposited TDS on salary for the month of Jan'10 of an employee but not deducted in his salary. i will deduct that tds amount in this month salary. please let me know how to manage entry in tally
bharat
(ARTICLE)
(86 Points)
Replied 22 March 2010
On the payment of TDS
date will the day of salary of Jan due.
Employee's A/C Dr. (Amunt of TDS)
To Bank/Cash
On due of salary of Feb. ..
Date - Due date of salary in Feb
Salary Dr
To Employee's A/C
on payament
Employee's A/C Dr (amount after ded. TDS)
To Cash/Bank
nilesh dube
(Service )
(74 Points)
Replied 22 March 2010
Dear Amod Ranjan,
Entry in your case will be as follows
I have assumed the name of employeee as X & P.m Salary = 100 & TDs on salary =10
January : Salary A/c Dr 100
To X 100
X A/C dr 100
To Bank 100 ( Payment of salary)
X A/C Dr 10
To TDS payable AC 10 ( Being amount recoverable on account of TDS from X )
TDS payable A/C dr 10
To BAnk 10 ( payment of TDS)
February : Salary A/c Dr 100
To TDS payable 10 ( for the month of feb )
To X A/c 90
X A/C dr 80
To BAnk 80
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