Sir, if single one tim lic insurance is paid whether it can be shown as investment in balance sheet?

Yes

 

If its a balance sheet of company then lic policy cannot be shown as investment.
Even as per Accounting Standards its not allowed.

ca altamush sir u want to say the balance of a insurance company not that person n who pays if think so...

sorry its balance sheet

LIC is an insurance policy taken on life of an individual. In case of company the individual and company is different and therefore it cannot be shown as investment of company. Moreover investment is asset held for capital appreciation (long term) the benefit does not accrue to business but to the individual who takes it so it cannot feature in the balance sheet of business

Its shown as drawings or advances or expenses as the case may be

thank u sir u clear my confusion

Glad to help