Page 234 - Account 10

Illustration - 4
On 2074-12-2, the Custom Office, Birgunj, distributed salary to its employees for the
month of Falgun, 2074, amount to Rs. 50,000 subject to the following deduction:

Personnel Provident Fund 5,000
Income Tax 2,000
Solution:

Code No. Particulars L.F. B. H. No. Debit Credit
Dr. B.E. Salary 21111 50,000
Cr. Personnel Provident Fund 5,000
Cr. Income Tax 2,000
Cr. Treasury Single Account (TSA) 43,000
(Being salary for the month of Falgun paid
by deducting Personnel Provident Fund and
income tax.)
50,000 50,000
While depositing Personnel Provident Fund into concerned A/c:
Code No. Particulars L.F. B. H. No. Debit Credit
Dr. Personnel Provident Fund 5,000
Cr. Treasury Single Account (TSA) 5,000
(Being Personnel Provident Fund deposited
into the concerned A/c.)
5,000 5,000
While depositing the income tax into the concerned A/c:
Code No. Particulars L.F. B. H. No. Debit Credit
Dr. Income Tax 2,000
Cr. Treasury Single Account (TSA) 2,000
(Being income tax deposited into the
concerned A/c.)
2,000 2,000
Note: The depositing of the deductions may be entered together in the same voucher by
debiting the respective deduction accounts and crediting Treasury Single Account. In
such a case if different cheques are issued, the separate numbers should be mentioned
in the ‘Cheque No.’ blank and the total sum of amount in the ‘Cheque Amount’ blank.

Illustration - 5
On 29-11-2074, salary of the month of Falgun Rs. 65,000 is distributed after deducting
Rs. 8,000 for provident fund, Rs. 2,000 for personnel loan and Rs. 1000 for income tax and

234 Aakar’s Office Practice and Accountancy - 10 Journal Voucher 235