Group insurance policy on employees
This query is : Resolved
Eswar Reddy S
(Querist)
16 June 2014
A company has taken group insurance policy on 01.01.2014 for one year and paid Re.200,000/- for financial year 2013-14 ,how much need to account as an expense?
Is it proportionately or entire need to consider on payment basis?
Sum assured has not mentioned in the policy.
Nikhil Kaushik
(Expert)
17 June 2014
ideally it should be divided on the basis of months and accordingly apportioned over different financial years.
Rupesh Jain
(Expert)
17 June 2014
pls make divide the exp. accruing to period and remaining claim to prepaid exp. and claim in next year.
17 June 2014
(2,00,000/12months)x 3 months as exp for fy 13-14 and bal in 14-15 FY
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- Gift to nri relatives resides in usa
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- GST ITC as per notification 12/2023- central tax
- Form 144 TDS Return Validation error
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
