Monday, June 3, 2013

TDS Transactions Entries Workings (Tutorial - 2)

TRANSACTIONS

Transactions No.1:
01.06.2013: XYZ Company received a bill from M/s.Rock Financial services Pvt Ltd., for Rs.45,000 towards Interest charges for Loan Account No.15852.

Transactions No.2:
01.06.2013: XYZ Company received a bill from M/s.Kanna Financial services Pvt Ltd., for Rs.38,000 towards Interest charges for Loan Account No.BD52145.

Transactions No.3:
02.06.2013: XYZ Company received a bill from M/s.Indian Shipping services Pvt Ltd., for 40,000 towards C&F Charges.

Transactions No.4:
02.06.2013: XYZ Company received a bill from M/s.B.M.Shipping Services Ltd., for Rs.55,000 towards C&F Charges.

Transactions No.5:
02.07.2013: XYZ Company paid TDS (under section 194A) of Rs.8,300/- through ICICI Bank (Cheque,  No: 222222) for the month of June 2013.

Transactions No.6:
02.07.2013: XYZ Company paid TDS (under section 194C) of Rs.1,900/- through ICICI Bank (Cheque,  No: 444444) for the month of June 2013.

 WORKINGS


JOURNALVOUCHERS

Date

Description

Debit (Rs)

Credit (Rs)

01.06.2013
Interest on Loans
45,000

Rock Financial services Pvt Ltd.,

40,500
TDS on Interest on Loans

4,500

01.06.2013
Interest on Loans
38,000

M/s.Kanna Financial services Pvt Ltd.,

34,200
TDS on Interest on Loans

3,800

02.06.2013
C&F Charges
40,000

Indian Shipping services Pvt Ltd.,

39,200
TDS on C&F Charges

800

02.06.2013
C&F Charges
55,000

B.M.Shipping Services Ltd.,

53,900
TDS on C&F Charges

1,100

TDS PAYABLE WORKING SHEET (TDS PAYABLE WORKING 
SHEET (IT'SONLY WORKING SHEET FOR YOUR REF, NOT FOR 
TALLY ENTRIES)

Date
Ledger
TDS Section
Amount
TDS Section wise Monthly payable
01.06.2013
TDS on Interest on Loans
194A Interest other than Interest on securities
4,500

8,300
01.06.2013
TDS on Interest on Loans
194A Interest other than Interest on securities
3,800
02.06.2013
TDS on C&F Charges
194 C Payment to Sub-Contractors
800

1,900
02.06.2013
TDS on C&F Charges
194 C Payment to Sub-Contractors
1,100
Total TDS Payable for the Month of June-2013
10,200

BANK PAYMENT VOUCHERS
Date
Description
Debit (Rs)
Credit (Rs)
02.07.2013
TDS on Interest on Loans
8,300

ICICI Bank Ltd

8,300
02.07.2013
TDS on C&F Charges
1,900

ICICI Bank Ltd

1,900


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