Saturday, May 18, 2013

TDS Transactions workings

Transactions

1) 01.05.2013: XYZ Company received a bill from M/s.Indian Shipping services pvt ltd., for 100,000 towards C&F Charges.
2) 02.05.2013: XYZ Company received a bill from M/s.B.M.Shipping Services LTd., for Rs.80,000 towards C&F Charges.
3) 03.05.2013: XYZ Company received a bill from Mr.A.Kumar for Rs.60,000 towards sales commission charges.
4) 06.05.2013: XYZ Company received a bill from M/s.P.V.Rao & Co. Ltd., for Rs.89,000 towards Consultant Charges.
5) 06.05.2013: XYZ Company received a bill from M/s.Reliance Financial services Ltd., for Rs.96,000 towards interest charges.
6) 08.05.2013: XYZ Company received a bill from M/s.Kanna Financial services pvt ltd., for Rs.38,000 towards Interest charges.
7) 09.05.2013: XYZ Company received a bill from M/s.Rock Financial services pvt ltd., for Rs.45,000 towards Interest charges.
8) 10.05.2013: XYZ Company received a bill from Mr.K.Sundar for Rs.99,000 towards commission charges.
9) 11.05.2013: XYZ Company received a bill from M/s.C.P.chartered services pvt ltd.,for Rs.52,000 towards Consultant charges.

Payment No: 1
03.06.2013: XYZ Company paid TDS (under section 194C) of Rs.3,600/- through ICICI Bank (Cheque,  No: 123456) for the month of May 2013.
Payment No: 2
03.06.2013: XYZ Company paid TDS (under section 194A) of Rs.17,900/- through ICICI Bank (cheque,  No: 223456) for the month of May 2013.
Payment No: 3
03.06.2013: XYZ Company paid TDS (under section 194H) of Rs.15,900/- through ICICI Bank (cheque,  No: 323456) for the month of May 2013.
Payment No: 4
03.06.2013: XYZ Company paid TDS (under section 194J) of Rs.14,100/- through ICICI Bank (cheque,  No: 423456) for the month of May 2013.


I hereby prepared workings for the above transactions. It is just for your reference. Just keep the following workings in your mind. It's very helpful, when you are recording TDS Transactions in Tally. 




Date

Description

Debit (Rs)

Credit (Rs)






































 
TDS PAYABLE WORKING SHEET
Date
Ledger
TDS Section
Amount
TDS Section wise Monthly payable
01.05.2013
TDS on C&F Charges
194 C Payment to Sub-Contractors
2,000

3,600
02.05.2013
TDS on C&F Charges
194 C Payment to Sub-Contractors
1,600
03.05.2013
TDS on Sales Commission Exp
194 H Commission or Brokerage
6,000

15,900
10.05.2013
TDS on Sales Commission Exp
194 H Commission or Brokerage
9,900
06.05.2013
TDS on Consultant charges
194J Fees for Professional
or Technical services
8,900

14,100
11.05.2013
TDS on Consultant charges
194J Fees for Professional
or Technical services
5,200
06.05.2013
TDS on Interest on Loans
194A Interest other than Interest on securities
9,600


17,900
08.05.2013
TDS on Interest on Loans
194A Interest other than Interest on securities
3,800
09.05.2013
TDS on Interest on Loans
194A Interest other than Interest on securities
4,500
Total TDS Payable for the Month of May-2013
51,500

 You can pay one Payment for One TDS Section. So you must have pay four separate payments.

Date
Description
Debit (Rs)
Credit (Rs)













Best Regard
G.S.VASU

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