LIC MATURITY
Vishal ( CA student) (394 Points)
07 February 2017Now, in this year he received the maturity amount of the policy around Rs. 300,000/- now what treatment will he do in the books of accounts of this maturity amount..
Vishal ( CA student) (394 Points)
07 February 2017
Rahul Shah
(Assistant Chartered Accountant)
(196 Points)
Replied 07 February 2017
Any amount Received from LIC is Exempt
Vishal
( CA student)
(394 Points)
Replied 07 February 2017
Rahul Shah
(Assistant Chartered Accountant)
(196 Points)
Replied 08 February 2017
He will have to debit the Bank account with amount which have been recd on Maturity of LIC
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