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Insurance on purchase of Car

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(Querist)
06 April 2009 At the time of purchase of Car, Normally Registration and Road Tax is paid. Insurance is also paid.
Whether this Registration charges and also Insurance [ to make this car ready to use] should be capitalized.
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
06 April 2009 Yes, All expences incurred for car are of capital nature and hence must be capitalised
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Reetika Goel

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Reetika Goel (Expert)
06 April 2009 All the expenses incurred up to the date it is ready to use are to be capitalized.



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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
07 April 2009 it is to be capitalised
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
07 April 2009 ya it is capitalised

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