Our company is showing deposit with LIC under the head Loans on the Assets side. But our Auditors argue that it should be shown either under Investments or under Other Financial Assets or under Cash&Cash Equivalents.
Note: This deposit can be withdrawn anytime.
Menu
Deposit with LIC
Replies (1)
IT SHOULD BE UNDER LONG TERM INVESTMENT >> FIXED ASSETS
Recent Threads
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
Related Threads
CAclubindia
