Insurance on purchase of Car
This query is : Resolved
06 April 2009
At the time of purchase of Car, Normally Registration and Road Tax is paid. Insurance is also paid.
Whether this Registration charges and also Insurance [ to make this car ready to use] should be capitalized.
Whether this Registration charges and also Insurance [ to make this car ready to use] should be capitalized.
06 April 2009
Yes, All expences incurred for car are of capital nature and hence must be capitalised
06 April 2009
All the expenses incurred up to the date it is ready to use are to be capitalized.
07 April 2009
it is to be capitalised
07 April 2009
ya it is 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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
