1-Rent A/c Dr. TDS Payable A/c Cr. and Rent Payable(Party)A/c Cr.
2-Service tax is chargeable when it is provided.If you are taking rent from someone then you can charge service tax on ur bill that -Party A/c Dr.(total amt.)Rent A/c Cr.(rent amount)Service Tax payable A/c Cr.(service tax amt.)
Rent a/c... Dr
To Party/Rent Payable
To Tds Payable on Rent
Party/Rent Payable a/c... Dr
To Bank
if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component.
1.Rent a/c Dr...Party/Rent Payable a/c Cr....Tds Payable on Rent a/c Cr.... 2. Party/Rent Payable a/c Dr... Bank a/c Cr. if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component
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Comments
CA. Sachin Data
20-Jul-2011 , 03:39:05 pmRent A/c Dr. To TDS payable (Rent) A/c To XXXX (Rent Receiver) A/c Please brief your second part. What exactly you want to ask.
CA Rajnish
20-Jul-2011 , 05:24:51 pm1-Rent A/c Dr. TDS Payable A/c Cr. and Rent Payable(Party)A/c Cr. 2-Service tax is chargeable when it is provided.If you are taking rent from someone then you can charge service tax on ur bill that -Party A/c Dr.(total amt.)Rent A/c Cr.(rent amount)Service Tax payable A/c Cr.(service tax amt.)
CA VIPIN GARG
22-Jul-2011 , 09:32:55 amagree with Rajnish Ji.........
Ritesh Mundra
23-Jul-2011 , 01:42:00 pmIn this case simply Rent agreement a/c Dr and Tds & Party account is credited
rajat bhatia
31-Aug-2011 , 01:18:40 amRent a/c... Dr To Party/Rent Payable To Tds Payable on Rent Party/Rent Payable a/c... Dr To Bank if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component.
rajat bhatia
31-Aug-2011 , 01:22:01 am1.Rent a/c Dr...Party/Rent Payable a/c Cr....Tds Payable on Rent a/c Cr.... 2. Party/Rent Payable a/c Dr... Bank a/c Cr. if rent bill includes service tax, then tds is to be deducted on the amount of bill excluding Service tax i.e. tds is NOT to be deducted on service tax component
Rohit Agarwal
08-Sep-2011 , 02:50:30 pmagree with Rajnish Ji and Rajat ji.........