Fa capitalisation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 November 2011
Dear Sir,
1) We are purchasing come commercial vehicles & paying RTO & Insurance chgs., as per my understanding these RTO & Insu. is to be capitalised along with vehicle. Pls explaim m i correct?
2)Pls tell we also pays insurance every year then why next year we expense out these charges.
Many Thanks
Rahul
1) We are purchasing come commercial vehicles & paying RTO & Insurance chgs., as per my understanding these RTO & Insu. is to be capitalised along with vehicle. Pls explaim m i correct?
2)Pls tell we also pays insurance every year then why next year we expense out these charges.
Many Thanks
Rahul
CA Navin Jain
(Expert)
11 November 2011
first time expenses shall be capitalised after then insurance exp shall be treated revanue expenses
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