How to register a payment for LIC in the books of accounts as it is exempted und

How to register a payment for LIC in the books of accounts as it is exempted under 80 c...

Thanks

Question Posted / tallyho

How to register a payment for LIC in the books of accounts as it is exempted under 80 c... Thanks..

Answer / ravindra

LIC A/c Dr. XXXX
CASH/BANK Cr. XXXX

Capital A/c Dr. XXXX
LIC Cr. XXXX

Its less on income tax calculation

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