Pandusubbu
Employee
Prashanth.kodical
Working For Accounts
+1 Other

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Hi Sir,
this is subramanyam, my doubt is we are paying the rent every month. we have deducted tds on the rent also. how to pass the entries in tally 09 version
first i will enter the JV
1 JV
Rent a/c dr 100000 ( indirect Exp)
to paryname 90,000 ( Sundry Creditors)
to tds payable a/c 10.000 ( Currect Assets)
2 When we pay the rent (Owners)
Payment voucher

Party name a/c dr 90000
to bank a/c 90000
3. when the tds payment
Payment voucher

tds payable a/c 10,000.00
to bank a/c 10,000.00
can u help me above entries are correct or wrong any changes is there plz let me know.

From India , Hyderabad
hai pandu,
when you Pass JV your have to Group TDS deduction in ''Provision or Current Liability'' because TDS is not your amount that is Tax which you have to remmite to department.
1 JV
Rent a/c dr 100000 ( indirect Exp)
to party name 90,000 ( Sundry Creditors)
to tds payable a/c 10.000 ( Provision/Current liability)
regards,
prashanth

From India , Bangalore
hiiiiiiiii frnd
U just applicable the tds on the person in tally also tally r deducted the tds : the entry r in this condition these ::-
Rent a/c dr 100000 ( indirect Exp)
to paryname amount after dedustion ( Current Laiblities)
to tds payable a/c 20.60% of rent amount ( duty & taxses)

From India , Ahmadabad
tds entries in tally 09
Hi Subramanyam in first JV you have to make change in TDS payable, that is not a Assets for use, it is a liability,so you should make change of TDS payable under (current Liability or Provision)
first it will enter the JV
1 JV
Rent a/c dr 100000 ( indirect Exp)
to paryname 90,000 ( Sundry Creditors)
to tds payable a/c 10.000 ( Currect Liability/Provision)
regards,
prashanth.k

From India , Bangalore
Anonymous
sir please let me know one....
ASL ltd is my customer. i sold an item to asl ltd at 10000. he deducted 1000/- & sent me 9000/-.
now what is JV my books. it is very impartant to my new and 1st job. tell me please............

From India, Medak
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