payment of tds entries

pandusubbu

hi sir,

every month we have pay the rent through cheque. so rent is 250000.
this entry is correct or not

Rent payment for the Owners.
Party name A/c dr 2,50,000.00
Bank a/c cr 225000
TDS a/c cr 25000

its Correct entry or not

After one month we have to deposite the tds on bank

tds payable a/c dr 25,000
to cash/bank a/ccr 25,000

any corrections is there kindly send the correct entries.

Thanks & Regards,
Subbu.

SUNIL9871

The Entry be correct.

S.V.Krishnan

Entry could be made as follows

Debit..........Rents and Taxes A/c.......................................Rs 125000
Credit Mr X being the rent due Rs 125000
Credit TDS Payable a/c............................................ Rs 12500
Debit Mr X being the TDS on rent Rs 112500
Debit Mr X rent paid Rs 112500
Credit Bank amt drawn for rent payment Rs 112500
Debit TDS payable a/c Rs 112500
Credit Bank being amt drawn for TDS payment Rs 112500

assikand

Before passing these enteries, first pass this JV entry

Rental expenses Dr. Rs. 250000.00
To Party A/c Cr.

Quote:

Originally Posted by pandusubbu

hi sir,

every month we have pay the rent through cheque. so rent is 250000.
this entry is correct or not

Rent payment for the Owners.
Party name A/c dr 2,50,000.00
Bank a/c cr 225000
TDS a/c cr 25000

its Correct entry or not

After one month we have to deposite the tds on bank

tds payable a/c dr 25,000
to cash/bank a/ccr 25,000

any corrections is there kindly send the correct entries.

Thanks & Regards,
Subbu.

assikand

Before passing these enteries, first pass this JV entry

Rental expenses Dr. Rs. 250000.00
To Party A/c Cr. Rs. 250000.00

Rest of the enteries are correct.

Quote:

Originally Posted by pandusubbu

hi sir,

every month we have pay the rent through cheque. so rent is 250000.
this entry is correct or not

Rent payment for the Owners.
Party name A/c dr 2,50,000.00
Bank a/c cr 225000
TDS a/c cr 25000

its Correct entry or not

After one month we have to deposite the tds on bank

tds payable a/c dr 25,000
to cash/bank a/ccr 25,000

any corrections is there kindly send the correct entries.

Thanks & Regards,
Subbu.

cakshitijsaxena

Step 1:-
Rent A/C -Dr. 250,000
To Rent Payable A/c 225,000
To TDS Payable A/c 25,000
(Being rent due at the end of month a/c for & TDS deducted @ 10%)

Step 2
Rent Payable A/c-Dr.
To bank A/c
(Being rent due now paid)

Step 3
TDS Payable A/c-Dr.
To Bank A/c
(Being TDS deducted on rent now paid to Govt.)

cwdnandhafin

The Correct Entry is as follows to track individual Ledger Accounts efficiently:

1) Dr Rent ( Expenses ) - 250000
Cr Tds on Rent Payable - 25000
Cr Vendor A/c - 225000

2) Making TDS Payment:
Dr TDS on Rent Payable - 25000
Cr Bank/Cash A/c - 25000

3) Making Payment to Vendor/landlord

Dr Vendor A/c - 225000
Cr Bank/Cash A/c - 225000

Regards
nandha

suc

hi there
canu send me procedure of TDS .HOW TO DIDUCT TDS FROM SALARI ?
HOW TO FILLUP CHALLAN OF TDS AND HOW TO SUBMITED IN BANK ?
HOW TO PASS ENTRY OF TDS .HOWMUCH ENTRY OF IT ?
PLS HELP ME
MY EMIL ID :suchitshah1432@gmail.com
pls help me .

i want to know more about TDS .ANYONE CAN HELP ME ?

suc

thnaks for it but on which voucher?
i have also send one questation ?
if u have ans. of it pls help me .
my id :suchitshah1432@gmail.com

Quote:

Originally Posted by cwdnandhafin

The Correct Entry is as follows to track individual Ledger Accounts efficiently:

1) Dr Rent ( Expenses ) - 250000
Cr Tds on Rent Payable - 25000
Cr Vendor A/c - 225000

2) Making TDS Payment:
Dr TDS on Rent Payable - 25000
Cr Bank/Cash A/c - 25000

3) Making Payment to Vendor/landlord

Dr Vendor A/c - 225000
Cr Bank/Cash A/c - 225000

Regards
nandha

suc

hi there
canu send me procedure of TDS .HOW TO DIDUCT TDS FROM SALARI ?
HOW TO FILLUP CHALLAN OF TDS AND HOW TO SUBMITED IN BANK ?
HOW TO PASS ENTRY OF TDS .HOWMUCH ENTRY OF IT ?
PLS HELP ME
MY EMIL ID :suchitshah1432@gmail.com
pls help me .

i want to know more about TDS .ANYONE CAN HELP ME ?