Accounting entries

Hi friends, I need an Accounting entry using the following data, Mr. A is an insurance agent who is getting commission periodically (say monthly @ 30000 per month GROSS) from LIC of india. The following items are deductable from the GROSS commission amount monthly: 1.Tax Deducted at Source (Say @ 10%) 2.Personal Insurance Premium (Say 5000 per month) 3.Housing loan installment (Rs.5000 per month Interest+Principal) 4.Monthly deduction of a Fixed amount for his personal savings(Say Rs.1000 per month)  Any body out there tell me IN-DETAIL a journal entry to be passed in the TALLY ERP 9.0 ENVIRONMENT. Waiting for your reply..............

Thank you.,

KUMAR. 

Replies (1)

TDS Receivable A/c........................Dr

Insurance Premium A/c.....................Dr

Housing Loan Inst A/c.........................Dr

Savings A/c........................................Dr

other Deductions A/c..........................Dr

Commission Receivable A/c...............Dr

             To Commission A.c

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details