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14 Comments

  1. Venkateswarlu Kake
    February 15, 2012 @ 12:07 PM

    Thanks, we are trying to update the site with good content.

  2. health insurance plans
    February 15, 2012 @ 12:06 PM

    I'll definitely share this, I'm sure that it will help a lot of people. Thanks.

  3. Venkateswarlu Kake
    February 21, 2012 @ 12:53 PM

    You are most welcome.

  4. Jude Cameron
    February 21, 2012 @ 12:52 PM

    thanks

  5. Venkateswarlu Kake
    July 4, 2012 @ 11:11 AM

    As per Accounting LIC Premium paid off by the owner of his son of father or of any relation will be treated as Drawing. Hence , the entry will as follows.

    Drawing Account Dr.
    To Cash Account.

  6. Anonymous
    July 4, 2012 @ 6:22 AM

    what is the treatment of lic premium paid by owner for his son or his father in accounts of owner???

  7. Deepak Agarwal
    December 26, 2015 @ 6:16 AM

    when to put ledger under investment head or under capital head

  8. Venkkatesh K
    December 26, 2015 @ 6:23 AM

    Normally Capital Head will be used to refer a Person if Individual, a Number of Partners if a Partnership Firm, a number of Share Holders if a Company.

    But Investment Head will be used to refer a some of Investments in Shares, Bonds, Insurance Companies etc.,

  9. Deepak Agarwal
    December 27, 2015 @ 8:59 AM

    thank you sir….but i have one more doubt…in this post its has been written that one can also group "insurance premium" under capital a/c….then this insurance premium is investment or drawings

  10. Venkkatesh K
    December 27, 2015 @ 9:09 AM

    You can show the Insurance Premium either under Investments or Capital. If you show it in Capital Group the Capital Closing Balance will be reduced. If you show it under Investments a separate Assets will be shown in the Balance as well the Capital Closing Balance will be not be reduced.

  11. Ghatkopar ClothStores
    April 5, 2016 @ 11:21 AM

    sir ,how to account lic policy maturity money with BONUS

  12. Venkkatesh K
    April 5, 2016 @ 11:24 AM

    Read this article to record the LIC Maturity Amount in Tally.ERP 9

  13. Unknown
    December 10, 2016 @ 3:18 PM

    Sir cn u tl me tht Life Insurance Premium Is a Drawing or Not.?

  14. Venkkatesh K
    December 10, 2016 @ 3:34 PM

    Personal Life Insurance Premium can be shown either Drawings or Deposits or Investments. But the Insurances like Keyman Insurance in the Companies Accounting it has to be shown as Expenditure to the Company.

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