Journal Entries For TDS

You have to record the below journal entries for TDS in your company books of accounts.

 

 

TDS on Professional Charges – 194J

 

Audit Fee A/c Dr

 

CGST A/c Dr

 

SGST A/c Dr

 

To TDS on Professional Charges (194J) A/c

 

To Vendor A/c

 

 

 

TDS Payment Entry

 

TDS on Professional Charges (194J) A/c Dr

 

To Bank A/c

 

 

Interest on Late Payment of TDS (Assume, TDS is paying after due date)

 

TDS on Professional Charges (194J) A/c Dr

 

Interest A/c Dr  (10,000 X1.5/100)

 

To Bank A/c

 

 

 

TDS on Commission Charges – 194H

 

Commission Charges A/c Dr

 

CGST A/c Dr

 

SGST A/c Dr

 

To TDS on Commission (194H) A/c

 

To Vendor A/c

 

 

 

Payment to Vendor Entry

 

Vendor A/c Dr

 

To Bank A/c

 

 

 

TDS Payment Entry

 

TDS on Commission (194H) A/c Dr

 

To Bank A/c

 

 

 

TDS on Rent – 194I

 

Rent Expenses A/c Dr

 

CGST A/c Dr

 

SGST A/c Dr

 

To TDS on Rent (194I) A/c

 

To Vendor A/c

 

 

 

TDS Payment  Entry

 

TDS on Rent (194I) A/c Dr

 

To Bank A/c

 

 

 

TDS on Payment to Contractor – 194C

 

Job Work Charges A/c Dr

 

CGST A/c Dr

 

SGST A/c Dr

 

To TDS on Contractors (194C) A/c

 

To Vendor A/c

 

 

 

TDS Payment Entry

 

TDS on Rent (194I) A/c Dr

 

To Bank A/c