Insurance exp paid at the time of pur of fa

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Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2015 whether it is capitalized or book as exp

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 December 2015 It will be capitalised at the time of purchase, further renewals can be consider as expenses

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2015 bill of fixed asset was of 31/3/2015.but not taken in last year now we have to entered on 01/4/15.and sir insurance policy is taken on 06/5/15 still it will cap?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 December 2015 Incase insurance policy taken along with purchase of asset you can capitalise, if the policy taken after purchase and installation then you can consider as normal expenses

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2015 fixed asset is car.so installation question not arise what now have to see.?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 December 2015 Incase Car, you need to capitalise the insurance even in different date also

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