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Capitalisation of first expenses

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(Querist)
06 March 2009 Whether the insurance charges, road tax paid for the first time on the new vehicle purchased should be capitalised.
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
06 March 2009 When you Purchase new Vehicle then all expences like RTO Tax, Insurance, any Financing Charges, any extra Money say "ON" for purchase of vehicle should be capitalised and Vehicle Price should be Gross-up for showing in Bal/Sheet

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