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
3 Replies
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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