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SALARY ENTRY

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 September 2010 We r paying salary to our employee as under mentioned structure:

BASIC 5000/-
HRA 2000/-
CONVEYANCE 1000/-

IF I MADE ENTRY FOR ABOVE PAID SALARY AS UNDER IS IT OK FOR I.TAX POINT OF VIEW


SALARY DR. 8000/-

SALARY EXPENSE PAYABLE CR. 8000/-

SALARY EXPENSE PAYABLE DR. 8000/-

BANK CR. 8000/-
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
02 September 2010 Yes... Nothing objectionable.

You must keep the comprehensive salary sheet for the detailed record.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
03 September 2010 yes. entry is correct, also as suggested by expert keep detailed record
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