Accounting entry of mediclaim policy in tally
This query is : Resolved
08 February 2016
SIr,
I am maintaining my individual data in Tally but confused for passing entry of Mediclaim Policy.
My Salary 300000
Paid Mediclaim Policy 15000 it is exempted under 80D i am very confused to create that ledger in which group.
if i create this under exp. then my P&L showing profit 285000 and transfer to my balance sheet as a capital of Rs.285000 but it should be 300000.
please suggest how to treat this entry in tally.
Thanks & Regards,
Arpit Aggarwal
I am maintaining my individual data in Tally but confused for passing entry of Mediclaim Policy.
My Salary 300000
Paid Mediclaim Policy 15000 it is exempted under 80D i am very confused to create that ledger in which group.
if i create this under exp. then my P&L showing profit 285000 and transfer to my balance sheet as a capital of Rs.285000 but it should be 300000.
please suggest how to treat this entry in tally.
Thanks & Regards,
Arpit Aggarwal
08 February 2016
you have to Group under Capital , it is deduction not Expenses.
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