Insurance on asset

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girish

girish (Querist)
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22 November 2007 Can insurance on fixed asset be capitalised ?

CA. Vineet Grover

CA. Vineet Grover (Expert)
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23 November 2007 Insurance on fixed asset cannot be capitalized.
If insurance charges form part of the total cost of the fixed asset at the time of purchase the same may be capitalized.

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Insurance on asset

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