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First Insurance of car

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Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2011 is first insurance of car should be capitalised? is it optional?

CA Navin Jain

CA Navin Jain (Expert)
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28 April 2011 YES, FIRST INSURANCE WOULD BE CAPITALIZED

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Querist : Anonymous

Querist : Anonymous (Querist)

28 April 2011 IS IT MANDATORY. WILL U PLS SEND ME REFERENCE WHICH I USE TO SATISFY MY SENIOR THAT IT IS TO CAPITALISED.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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28 April 2011 every exp which is necessary to bring asset in running position should be capitalised. without first insurance car can't be run on road. So it will be capitalised

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Mayur Agrawal

Mayur Agrawal (Expert)
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28 April 2011 agreed with CA Prashant Gupta

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