12-09-2010, 02:10 PM
Dear ,, aap ko tax deduct karna paray ga supplier ka...
e.g. when the advance made to staff member...
the entry in accounts would be
"DR. Advance to Staff Member 25000/-
Cr. Bank A/c or Petty Cash 25000/-"
and when the advance adjusted (suppose These r supplies) Tax deducted @3.5%
"Dr. Purchases/supplies (or relevant A/c Head)25875/-
Cr. W.H.Tax Payable 875/-
Cr. Advance to Staff Member 25000/-"
and you should deposit the tax payable to FBR.
hope i'm not wrong. [)]
e.g. when the advance made to staff member...
the entry in accounts would be
"DR. Advance to Staff Member 25000/-
Cr. Bank A/c or Petty Cash 25000/-"
and when the advance adjusted (suppose These r supplies) Tax deducted @3.5%
"Dr. Purchases/supplies (or relevant A/c Head)25875/-
Cr. W.H.Tax Payable 875/-
Cr. Advance to Staff Member 25000/-"
and you should deposit the tax payable to FBR.
hope i'm not wrong. [)]
