There is a salary cheque of INR10,000 going into a checking account.

This INR10,000 comes about as follows:

Gross Pay of INR12,000
Less Tax of INR1,000
Less Direct and compulsory investment in a bond of INR1,000
Net In hand salarcy INR10,000

How to handle this? I tried using splits. But it does not allow split into an investment account

I wish I could delete the question!

Solution is simple. Create the requisite investment account first.

Simple deposit your salary check and let Allow the Bank to do their job.