Group insurance policy on employees
This query is : Resolved
16 June 2014
A company has taken group insurance policy on 01.01.2014 for one year and paid Re.200,000/- for financial year 2013-14 ,how much need to account as an expense?
Is it proportionately or entire need to consider on payment basis?
Sum assured has not mentioned in the policy.
17 June 2014
ideally it should be divided on the basis of months and accordingly apportioned over different financial years.
17 June 2014
pls make divide the exp. accruing to period and remaining claim to prepaid exp. and claim in next year.
17 June 2014
(2,00,000/12months)x 3 months as exp for fy 13-14 and bal in 14-15 FY
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
