Investment

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Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2011 sir,Kya LIC Premium k payment ko Balance sheet k Assets k Investment me show karenge?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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03 March 2011 Jarurat nahin hoti, yadi ye premium normal ya regular LIC policies ke liye bhara jata hey.

Yadi Unit linked plan men nivesh karte hen to Asset side men batane me koi harz nahin hey.

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CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
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03 March 2011 It can have two treatments :-
(1)Treating it as Drawings and debiting the amount from Capital A/c
(2)Showing it as investment and passing the entry
LIC Premium/Investment A/c Dr.
To Bank A/c

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CS LLB Pulkit Gupta

CS LLB Pulkit Gupta (Expert)
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03 March 2011 Oops main jitne query ka answer kar rha tha tabhi Paras Sir ka reply aa gaya so I didn't see his reply.
Sir is correct.
Mere yahan main Assessee jo regualr premium bhar raha hai apna, apne baccho ka ya wife ka toh main usse drawings maan ke capital A/c mein show kar raha hun.
Par agar vo LIC ki kisi scheme ka bhar raha hai jisme saare paise after maturity waapis milenge usme main as an Investment Assets side mein daal raha hun...

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