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Insurance exp. of car ( First Time) while making purchase

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(Querist)
27 October 2023 Insurance exp. paid regarding insurance of car ,
my question is that insurance exp. should be added to cost of car and charge depreciation and second time onwards insurance exp.
should be divided between two Financial years and charges to P/L account when expenses related to 2 Financial years.
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RAJA P M

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RAJA P M (Expert)
28 October 2023 Yes, You are correct.
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