First insurance on new car whether capitalise or not
This query is : Resolved
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
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Sec 44ada applicable only or both
- RELATED TO TRIBUNAL APPEAL
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- GST Rate for Catering Services
- Taxability of Partnership firm for FY 2025-26
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
