banner_ad

Nature of Expences

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 March 2010 If i have purchased a new Asset and i have incurred insurance exp. at the time of purchasing a new asset than the exp. of insurance should be capitalised or it should be taken as revenue exp.
Give me advise for the same.
Profile Image

Rasesh

Profile Image

Rasesh (Expert)
02 March 2010 Insurance should be treated as revenue expenese.
Profile Image

Nazir

Profile Image

Nazir (Expert)
02 March 2010 yes, these r the revenue expenditure as you are going to incur those everymonth, we capitalize those expenses which are not in reccuring kind of..
Profile Image

CA Ravi Sisodia

Profile Image

CA Ravi Sisodia (Expert)
02 March 2010 agree ,insurance exp. is treated as revenue expenses.
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
02 March 2010 My view , Insurance at the time of purchase can be capitalisied as per AS-10 and further renewals can charge off as revenue expenses
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details