Tax Deduction at Source
I am not able to figure out how to do Tax Deduction at Source in
Accrual method.
Currently, when I pay rent to my landlord, I deduct Tax at 10%.
While the tax is deducted at source, its not paid until end of
quarter, however, in book of accounts its showing charged to the
Cheque account rather than as TDS Payable.
I am attaching how the entry looks like.
Please guide so that TDS is not charged to Cheque Account but goes
into Holding account.
I am sure there is an easy way and I am not able to get to it.
Thank you in advance for the guidance and help.
CK Taneja
- Entry_in_Account_of_TDS.pdf 307 KB
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Support Staff 1 Posted by Admin on 14 Jan, 2012 10:18 PM
I've had a think, but I think this is something for an accountant. Once you know how to classify the transactions, Easy Books can keep track of them for you, but I can't advise how to do this I'm afraid.
Mathew
Admin closed this discussion on 14 Jan, 2012 10:18 PM.