Tally Practice (Direct Taxes)

TALLY PRACTICAL QUESTIONS
DIRECT TAXES

TCS AND TDS

Company name:  Jain Brothers 

Inventory Items

Item name	Category/Group	Quantity	Price	Sales Price
Scrap (P)	Plastic	60,000 (Kilo gram)	15	20
Almira	Utsav	25,000 (Pieces)	10,000	12,000
Timber	Logs	1,20,000 (Pieces)	40	50

Ledger Entries

Cash in hand Rs. 7,00,000

Cash at bank Rs. 35,00,000

Machinery A/c  (Total amount Rs. 2,25,000)

Ceiling Fans a/c (Total amount Rs. 65,000)

Voucher Entries

1. Sold (2,000 pieces timber) to Ritesh furniture store with TCS

2. Paid 80,000 to Mahesh transporter with TDS (TDS Category: Payment to Transporters)

3. Sold goods (20 Almira) with 4% discount

4. Paid Rs. 40,000 To Heritage technical service with TDS

5. Sold goods to Mr. mahesh (500 PCs timber, 5,000 kg Scrap) with TCS.

6. Paid factory rent Rs. 1,82,000 by cheque to Kunal Plant and machinery with TDS.

7. Sold goods for cash (40 Almira, 100 Timber) 2 discount.

8. Return defected sold goods (5 Almira)

9. Depreciation 5% on Ceiling Fan.

10. Sold goods (1,000 kg. Scrap, 2,000 PCs timer) to Mr. Ritesh with TCS.

11. Paid commission Rs. 10,000 by cheque to Kartik & Sons with TDS.   

12. Purchase goods on credit from Umesh & Sons (2,500 Almira) with 2% discount.

13. Return defected purchased goods (50 Almira)

14. Depreciation 7.5% on machinery.

HOME