Life time tax
This query is : Resolved
14 January 2012
Dear Sir,
New passenger car purchased for Rs.6 lakh. The life time tax being Rs.57,000/- paid. Please advise, whether this life time tax is revenue expenditure or Capital expenditure. The car is used by the company for its business purposes only.
New passenger car purchased for Rs.6 lakh. The life time tax being Rs.57,000/- paid. Please advise, whether this life time tax is revenue expenditure or Capital expenditure. The car is used by the company for its business purposes only.
14 January 2012
It can be capitalised along with the purchase cost
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14 January 2012
You should capitalize the same and charge the depreciation accordingly.
14 January 2012
You should capitalize the same and charge the depreciation accordingly.
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