QUERIES
Hi Sir,
I AM Sagar
I have to pay Commission to party Rs. 29320/- Less 10% TDS. not paid in 2014-2015.
My CA has enter entry in 2014-2015 year
Party A/c Dr ............26388/-
Party A/c Dr...........2932/-
Party A/c Cr..............26388/-
TDS Commission Payble..2932/-
is it right entry ?
I have doubt
Please guide i have to paid Rs. 26388/- to party & 2932 TDS, how i do entry in 2015-2016

1st December 2015 From India, Pune

Hello Sagar,
No, I think the entry in the F.Y. 2014-15 will be given below.
Commission A/c Dr. 29320/-
TDS Commission Payable A/c Cr. 2932/-
Party A/c Cr. 26388/-
The TDS Commission Payable opening balance will be carried on in F.Y.2015-16, which will be payable with interest.
TDS Commission Payble A/c Dr. 2932/-
Interest on TDS A/c Dr. as per rule
Bank A/c Cr. Commission + Interest
Regards,
Kavita Shinde
3rd December 2015 From India, Pune
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