TDS Transactions workings

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.

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)
01.05.2013	C&F Charges	100,000
	Indian Shipping services pvt ltd		98,000
	TDS on C&F Charges		2,000
02.05.2013	C&F Charges	80,000
	B.M.Shipping Services Ltd		78,400
	TDS on C&F Charges		1,600
03.05.2013	Sales Commission Charges	60,000
	A.Kumar		54,000
	TDS on Sales Commission Exp		6,000
06.05.2013	Consultant charges	89,000
	P.V.Rao & Co. Ltd		80,100
	TDS on Consultant charges		8,900
06.05.2013	Interest on Loans	96,000
	Reliance Financial services Ltd.		86,400
	TDS on Interest on Loans		9,600
08.05.2013	Interest on Loans	38,000
	Kanna Financial services pvt ltd.		34,200
	TDS on Interest on Loans		3,800
09.05.2013	Interest on Loans	45,000
	Rock Financial services pvt ltd		40,500
	TDS on Interest on Loans		4,500
10.05.2013	Sales Commission Charges	99,000
	K.Sundar		89,100
	TDS on Sales Commission Exp		9,900

11.05.2013	Consultant charges	52,000
	C.P.chartered services pvt ltd		46,800
	TDS on Consultant charges		5,200

 

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

Date	Description	Debit (Rs)	Credit (Rs)
03.06.2013	TDS on C&F Charges	3,600
	ICICI Bank		3600
03.06.2013	TDS on Brokerage Charges	15,900
	ICICI Bank		15,900
03.06.2013	TDS on Consultant charges	14,100
	ICICI Bank		14,100
03.06.2013	TDS on Interest on Loans	17,900
	ICICI Bank		17,900

Best Regard
G.S.VASU