Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
18 June 2016A company has taken Gratuity Insurance policy in LIC Trust which run by LIC for Gratuity Liability. In this case whatever fund available in LIC Gratuity Fund is to be treated as Assets of company or not. Premium paying by company is Asset or Expneses?
When an employee resign from company, company is receiving grautity amount from LIC and pay to employee, also bank account is opened in the name of company.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 18 June 2016
Thanks Mr. Manish
But, my question is acculamated fund along with interest given by LIC is asset of company or not.
| Originally posted by : Deepak Tapse | ||
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Thanks Mr. Manish But, my question is acculamated fund along with interest given by LIC is asset of company or not. |
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No sir.
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