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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 4 · Set 1 · Q11
State any three components of payroll from sub- head 'Deduction'.ORExplain the three types of 'Vouchers'.
OR
Explain the three types of 'Vouchers'.Marking-scheme solution
Components of Payroll from sub-head ‘Deduction’ are : (any three)
(i)
Professional Tax – (applicable in some states ) [PT]
It is a statutory deduction according to the legislature of the State Govt.
(ii)
Provident Fund –
It is a Statutory deduction, as a part of social security. It is decided by
the Govt. under the Provident Fund Act and is computed as percentage
of basic pay + dearness pay, if applicable.
(iii)
Tax Deduction at Source – (TDS)
It is a statutory deduction which is deducted monthly towards income
tax liability of an employee. It is essentially an apportionment of yearly
income tax liability over $\displaystyle 12$ months.
(iv)
Recovery of Loan Instalment (Loan)
Any amount signified by the employee for deduction on account of any
loan taken up by him/her.
(v)
Any other deduction –
It may include any other deduction not included above such as Recovery
of “Advance against salary” , deduction on account of “Food Grain
advance”, “Festival advance” etc.
Q. Explain the three types of ‘Vouchers’
Ans. The three types of Vouchers are :
(i)
Memo Voucher :
Memo Voucher is a non accounting voucher. It does not affect
accounts of the user. These entries are stated / recorded in a separate
register, but not as a part of ledger.
(ii)
Post Dated Voucher :
Some accounting software allows the user to enter the voucher for
future transactions which are usually as the previous ones.
(iii)
User Defined Voucher :
In accounting software, there are $\displaystyle 23$ predefined vouchers. It allows the
user to define or create new accounting or inventory vouchers as per
the requirement.
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CBSE Class 12 Accountancy past-paper question from the 2022board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.