Insurance expenses at the time of purchase of car
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2016
A person purchase Car for business purpose.
person have proprietorship business.
At the time of Purchase of car, Car company doing insurance of car & charges Insurance premium by person & Insurance charges separately shown in Invoice.
now question is whether claim this insurance amount as Expenses in PNL or Capitalized this as Insurance Expenses.
person have proprietorship business.
At the time of Purchase of car, Car company doing insurance of car & charges Insurance premium by person & Insurance charges separately shown in Invoice.
now question is whether claim this insurance amount as Expenses in PNL or Capitalized this as Insurance Expenses.
26 August 2016
Insurance is a periodical payment claim it as expense in PNL.
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