Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2011
sir query regarding receipt and payment account.
in the case of payment of salary how it can be disclosed in said accounts.
entry is
salary a/c Dr 1000
to bank 980
to professional tax 20
in the above case i have the perplexity regarding the entry
that is whether we have to show the gross amount on credit side or the net payment.
or gross on credit side and in excess of professional tax is on debit side and while depositing the amount with the department again it has to show as a payment under the professional tax account.
in the case of payment of salary how it can be disclosed in said accounts.
entry is
salary a/c Dr 1000
to bank 980
to professional tax 20
in the above case i have the perplexity regarding the entry
that is whether we have to show the gross amount on credit side or the net payment.
or gross on credit side and in excess of professional tax is on debit side and while depositing the amount with the department again it has to show as a payment under the professional tax account.
18 December 2011
Your entry is correct. you can show as professional tax payable instead of Professional tax
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