First insurance on new car whether capitalise or not
This query is : Resolved
RAKHI CHAUDHARY
(Querist)
16 January 2013
Dear Sir/Ma'am,
Please suggest whether first insurance amount to be capitalised or debited to P&L.
If capitalise then why??
In such case whether prepaid to be booked??
Thanks in advance
Please suggest whether first insurance amount to be capitalised or debited to P&L.
If capitalise then why??
In such case whether prepaid to be booked??
Thanks in advance
Jaydeep Parakh
(Expert)
16 January 2013
Insurance amt. not capitalised ,Insurance debited to P & L.Only Asset cost+fright charges (if any) + Installation charges (if any) you can Capitalised.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Reward for festival
- TDS Return Statement Status
- Import of Capital Machine
- Appointment of Auditor By Form ADT-1
- Form 144 TDS Return Validation error
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- Resigning a auditor from the company for misconduct
- LLP audit under companies act
- Concept of Vendor and customner reconciliation
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- INWARD REMITTANCE FOREIGN
- Indian IT Portal issue in computing tax as per UK-India DTAA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
