DEPOSIT ASSETS

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TARAK KUMAR ROY (Querist)
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19 August 2020 KINDLY ANSWER ME THE FOLLOWING: 1) WILL AMOUNT OF TDS (CURRENT ASSETS IN BALANCE SHEET) AND ADVANCE TAX (ADVANCE IN BALANCE SHEET) DEDUCTABL FROM CAPITAL FUND IN BALANCE SHEET? 2) LIC POLICY WAS TAKEN ON 17.06.2016 OF SA 100000/- WHOSE YEARLY PREMIUM IS 1700/- . FOR THE F.Y. 2019-20 IT IS INVESTMENT IN BALANCE SHEET AND DEDUCTABLE FROM CAPITAL FUND ACCOUNT. WILL I TAKE PREMIUM PAID FOR THE YEAR 2016,2017 AND 2018 IN DEPOSIT ACCOUNT (1700*3=5100/-) OR SUM ASSURED WILL HAVE TO TAKE IN DEPOSIT A/C IN BALANCE SHEET FOR THE A.Y. 2020-21?

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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19 August 2020 KINDLY REPLY AS WELL AS HELP ME TO MAKE MY BALANCE SHEET FOR THE A.Y.2020-21. REGARDS, T.K.ROY

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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21 August 2020 KINDLY REPLY AS WELL AS HELP ME TO MAKE MY BALANCE SHEET FOR THE A.Y.2020-21. REGARDS, T.K.ROY

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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29 August 2020 KINDLY REPLY AS WELL AS HELP ME TO MAKE MY BALANCE SHEET FOR THE A.Y.2020-21. QUESTIONS WERE ASKED ON 19.08.2020.

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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01 September 2020 REPLY HAS NOT YET BEEN RECEIVED.

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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01 September 2020 REPLY HAS NOT YET BEEN RECEIVED.

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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02 September 2020 PLEASE SEND YOUR REPLY ON PRIORITY BASIS.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 September 2021 1. Its transferred to income tax provision. For individuals, you can debit it to capital account.
2. If at all required to show the LIC policy in BS, declare Sum Assured along with bonus declared, if any.

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