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Treatment for late fees (Audit)

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This query is : Resolved


( Author )
10 July 2012

 Dear Sir

Please Say me a propritor has paid LIC Premium of rs.100,000.00 and Late Fees rs.1500.00

100,000.00 have been debited to LIC Premium Ac and Please say what to do for Late Fees to Complete the Entry.


hardik bunha

( Expert )
10 July 2012

 no you have to debited rs. 101500/- but u/s 80C you can claim only Rs. 100000/-



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