Entry
This query is : Resolved
kamana Mayekar
(Querist)
02 December 2019
I want to adjust the loan of a staff against 1 month salary. So how the entry show come?
Eg: If
Basic salary is 40/_
HRA is 20/_
Other Allowance is 20/_
To Salary Payable is 40/_
TO PT is 5/_
TO staff Interest is 5/_
TO Staff Loan is 30/-
So now how the full amount of Salary Payable will get adjusted against Staff Loan?
Can anyone plz help me to pass the Entry
Eg: If
Basic salary is 40/_
HRA is 20/_
Other Allowance is 20/_
To Salary Payable is 40/_
TO PT is 5/_
TO staff Interest is 5/_
TO Staff Loan is 30/-
So now how the full amount of Salary Payable will get adjusted against Staff Loan?
Can anyone plz help me to pass the Entry
GN Patankar
(Expert)
01 March 2020
Plz do journal entry as
Salary account Dr
Allowance account Dr
To PTax payable account Credit
To. PF payable acct Cr
To Advance account (person)
entire amount of Salary ,after statutory deduction, Will adjust against loan amount
Salary account Dr
Allowance account Dr
To PTax payable account Credit
To. PF payable acct Cr
To Advance account (person)
entire amount of Salary ,after statutory deduction, Will adjust against loan amount
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Capital Gains Tax on Inherited Mutual Fund
- TDS- 2026-27 Q1 Correction
- Gift to nri relatives residing in usa
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
