Drawing


This query is : Resolved 

Quick Summary
This discussion clarifies whether payments for LIC premiums and Provident Fund (PF) deductions made during the financial year 2019-20 should be deducted from a capital fund account through drawings. The consensus is that these investments are indeed to be deducted from the capital account.

18 July 2020 I have paid lic premium of Rs. 11993/- and PF deduction was made of Rs.18000/- during the F.Y. 2019-20. Are these investments and to be deducted from capital fund account through drawing?

18 July 2020 KINDLY ARRANGE TO SEND ME YOUR VALUABLE REPLY ASKED TODAY. I WILL BE HIGHLY OBLIGED FOR YOUR REPLY.

18 July 2020 Yes, These investments are to be deducted from Capital account.


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