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Life time tax

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(Querist)
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.
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CA Deepak S

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CA Deepak S (Expert)
14 January 2012 It can be capitalised along with the purchase cost
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sharma.ctc@gmail.com

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sharma.ctc@gmail.com (Expert)
14 January 2012 You should capitalize the same and charge the depreciation accordingly.



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sharma.ctc@gmail.com

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sharma.ctc@gmail.com (Expert)
14 January 2012 You should capitalize the same and charge the depreciation accordingly.

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