Please Help: accounting entry
Posted Date : 20-Jul-2011 , 01:44:06 pm | Posted By: RAVI
Category :
Accounts | Answers :
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Comments :
7| Hits: 923
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i want to know about the entry of rent payment with tds.?
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is it chargeable the service tax on that entry.? |
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Answers:
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 Answer by: PRIYANKA |
| completely agree with rajnish jee.
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| Comments |
| Posted By : Rohit Agarwal |
08-Sep-2011, 02:50:30 |
| agree with Rajnish Ji and Rajat ji......... |
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| Posted By : Rajat Bhatia |
31-Aug-2011, 01:22:01 |
| 1.Rent a/c Dr...Party/Rent Payable a/c Cr....Tds Payable on Rent a/c Cr.... 2. Party/Rent Payable a/c Dr... Bank a/c Cr. if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component |
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| Posted By : Rajat Bhatia |
31-Aug-2011, 01:18:40 |
| Rent a/c... Dr
To Party/Rent Payable
To Tds Payable on Rent
Party/Rent Payable a/c... Dr
To Bank
if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component. |
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| Posted By : Ritesh Mundra |
23-Jul-2011, 01:42:00 |
| In this case simply Rent agreement a/c Dr and Tds & Party account is credited |
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| Posted By : CA VIPIN GARG |
22-Jul-2011, 09:32:55 |
| agree with Rajnish Ji......... |
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| Posted By : CA Rajnish |
20-Jul-2011, 05:24:51 |
| 1-Rent A/c Dr. TDS Payable A/c Cr. and Rent Payable(Party)A/c Cr.
2-Service tax is chargeable when it is provided.If you are taking rent from someone then you can charge service tax on ur bill that -Party A/c Dr.(total amt.)Rent A/c Cr.(rent amount)Service Tax payable A/c Cr.(service tax amt.) |
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| Posted By : CA. Sachin Data |
20-Jul-2011, 03:39:05 |
| Rent A/c Dr.
To TDS payable (Rent) A/c
To XXXX (Rent Receiver) A/c
Please brief your second part. What exactly you want to ask. |
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