Easy Office
LCI Learning

Which is the right treatment for life insurance premium

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 October 2013 In these which option is good for annual life premium paid for the entry in tally:

1. Lic Premium a/c dr. (capital a/c head)
By cash/bank

2. Lic Premium a/c dr. (Indirect exp head)
By cash/bank

3. Lic Premium a/c dr. (investment head)
By cash/bank

Along these can any other entry can we made or any adjustment need for it?
Profile Image

CA Pallav Singhania

Profile Image

CA Pallav Singhania (Expert)
25 October 2013 LIC premium is a personal Exp,
and to be met thru Capital A/c.

your 1st entry is correct...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links