Lic paid -proprietorship
This query is : Resolved
27 September 2014
Dear All,
For proprietor ship business LIC paid from business account ,is it drawing or investment ?
(Accounting treatment)
1.Proprietor life -not for business purpose (DRAWING) or
2.Business money paid to others advance /loan as the same will be refunded on maturing (Investment )
27 September 2014
ideally it should be debited to the capital accounts...
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
- Reg Correction Form 15CB & 15CA
- Regarding Capital gain of NRI
- TDS deposited by party after the filing of income tax returns
- Gstr9 fy23-24
- Rebate u/s 87a on STCG / LTCG - New tax regime
- TDS deduction requirement
- Appeals pending - time limit
- GSTR9 REGARDING
- Cancel of form 102 without transfer
- Regarding TDS refund u/s 194B & 194G of AY 2024-25
- 195 Payments
- 8C of gstr9
- Regarding the Demand Raised in TAN due to inoperative PAN.
- ITC IN AMMENDED INVOICE IN GSTR9 2023-24
- Unclaimed ITC relates to FY2023-24 reclaimed in October-2024 but failed to reverse the same
- Rule 42 Calculation
- Fixed assets to be expensed out resulting nil value
- ITC RECREDIT NOT SHOWN IN GSTR 9
- GSTR9 ITC AVAILED CLARIFICATION
- Wrong itc ingstr-3b coloum4-b-1
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
