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Capitalisation of fixed assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2012 Expert,
Whether insurance paid at the time of purchase of car will be capitalised in the value of Car or will be treated as revenue exp
?
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
12 June 2012 processing charges & Stamp duty should not be Capitalized . It' Transfered to P\L A/c.
But Accessories,Insurance charges, life tax should be Capitalized.
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