Lic premium entry
ABHI KUMAR (679 Points)
15 July 2021ABHI KUMAR (679 Points)
15 July 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 15 July 2021
prasad Nilugal
(3914 Points)
Replied 15 July 2021
Ankita Jain
(CA in practice)
(185 Points)
Replied 15 July 2021
prasad Nilugal
(3914 Points)
Replied 15 July 2021
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 15 July 2021
If it is paid by the sole proprietor then entry will be
1) Capital A/c Dr
To Lic Premium A/c Cr
( Being personal premium paid )
2) After maturuty receipt entyr will be
Bank A/c Dr
To Capital A/c Cr
( Receipt of LIC maturuty amount )
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 15 July 2021
Of course first entry in case of Sole proprietor wil be
Lic Premium A/c Dr
To Bank A/c Cr
( payment made )
Then transfer to capital account
prasad Nilugal
(3914 Points)
Replied 19 July 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 19 July 2021
Live class on PF & ESI Enrollment & Returns Filing(with recording)