For a provision you initially debit cost and credit provision. When the provision is released you debit your provision and credit cash. The provision should be adjusted to present value on your balance sheet.
what is the accounting entry for provision for audit fees
no
when there is decrease in provision of doubtful debts the double entry to record it would be ; debit : provision credit: expense /bad debts
To perform double entry on stock provision, you'd record the company's transactions twice. Two of the accounts in the system will have this.
1) a) Salary Payable A/C Dr. TDS on Salary A/c Dr. To Salary A/c To TDS on Salary A/c b) Salary A/c Dr. TDS on Salary A/c Dr. To Bank
indiret a/c .....dr To tds a/c .....cr
what is the accounting entry for provision for audit fees
no
first entry as jurnal then you pass alt+s after that your tds will ducted then you pay amount party and tds pay in government
indiret a/c .....dr To tds a/c .....cr
How can I make the TDS entry in Tall7.2 ?
when there is decrease in provision of doubtful debts the double entry to record it would be ; debit : provision credit: expense /bad debts
To perform double entry on stock provision, you'd record the company's transactions twice. Two of the accounts in the system will have this.
Cash / Bank A/c. ------Dr. Tds receivable A/c.-----Dr. To Sundry Debtor A/c.------Cr.
indiret a/c .....dr To tds a/c .....cr
1) a) Salary Payable A/C Dr. TDS on Salary A/c Dr. To Salary A/c To TDS on Salary A/c b) Salary A/c Dr. TDS on Salary A/c Dr. To Bank
Yes, TDS is applicable. It is the status of foreign employee which would help to determine the correct provision of TDS. In normal course in case of foreign employees TDS is to be deduced u/s 195 read with section 194J. For more details, visit: http://www.taxmanagementindia.com