Disclosure of lic as investment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2012
if any person having PGBP income has lic policies & claims deductions U/s 80C then whether he will have to show his lic policies as investments in his Balance Sheet & ITR.
09 July 2012
LIC policies will not be declared as investment as they are personal investments.
Also keep in mind the fact that LIC premium is treated as drawings.
So LIC policies CANNOT be business investments.
Also keep in mind the fact that LIC premium is treated as drawings.
So LIC policies CANNOT be business investments.
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2012
Thanks buddy....
09 July 2012
You are welcome. You should use the thanks button to convey your thanks.
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