Tally voucher entries

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This query is : Resolved

vinodpatil (Querist)

11 February 2010 If A is a employee of compny his salary is 50000 Rs per month deduction is tds 10000 rupees & pro. tax ix is 300 rupees. then how to enter in journal & payment voucher in tally ? Which ledger is created & who is debit & credit in entries

Jigar Shah

Jigar Shah (Expert)

11 February 2010 Salary Dr 50,000
To TDS A/c 10,000
To Professional Tax A/c 300
To Salary Payable A/c 39,700
(Being salary due for the month along with the respective statutory liabilities recorded)

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Salary Payable A/c Dr 39,700
TDS A/c 10,000
Professional Tax A/c 300
To Bank A/c 50,000
(Being Salary and tax paid)

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

11 February 2010 Salary A/C Dr 50,000
To TDS Payable on Salary A/c 10,000
To Professional Tax payable A/c 300
To Salary Payable A/c 39,700

while making salary payment

Salary payable A/c 39700
Bank A/c 39700

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