Is the journal entry shown in the picture correct?
Snehashis Mohanty
CA Inter
★ 35
23-Feb-26 14:18
172
Answers (9)
Looks correct only. what part you think is not correct>?
CA Suraj Lakhotia
Admin
23-Feb-26 15:30
I am talking about IT 1% & 2 % I think it's according to me it will be 0.1% under 194Q
Thread Starter
Snehashis Mohanty
CA Inter
★ 35
23-Feb-26 15:47
Its work contract so would be 194C
CA Suraj Lakhotia
Admin
23-Feb-26 15:52
But 194 C tds is deducted at the time of payment right
Thread Starter
Snehashis Mohanty
CA Inter
★ 35
23-Feb-26 16:10
This is receipt right?
CA Suraj Lakhotia
Admin
23-Feb-26 16:12
Ok I got it
Thread Starter
Snehashis Mohanty
CA Inter
★ 35
23-Feb-26 16:13
It's tds receivable
Thread Starter
Snehashis Mohanty
CA Inter
★ 35
23-Feb-26 16:13
But sir I have another question regarding this journa l entry look at the cgst tds and sgst tds entry shows in debit side don't you think it will be shown as liability
