Asked in BDO India LLP
Company ABC Ltd was provided services worth 1,00,000 and 10% TDS deducted. What should be the journal entry?
AnswerBot
2y
Journal entry for services worth 1,00,000 with 10% TDS deducted
Debit the TDS account with 10,000
Credit the vendor account with 90,000
Credit the TDS payable account with 10,000
SUDHAKAR R. BOCHARE
1y
Debit ABC Ltd for ₹90,000
Debit TDS for ₹10,000
Credit respective Revenue Account for ₹100,000
Comment deleted
Anonymous
2y
Bank A/c Dr. 100,000
To TDS receivable 10,000
To Company ABC ltd. 90,000
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