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27 July 2011 LIC insurance premium can charge in profit & loss A/c again his income from business professtion
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Mukesh Goyal

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Mukesh Goyal (Expert)
27 July 2011 Dear Bharat ji

Only key man life insurance premium can be debited to P& L a/c.

LIC Premium of a Prop./Partner will be debited to capital a/c.

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