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Rto fees and insurence expenses

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 November 2016 Dear All
Plz tell me the following exp. Is capital or revenue exp. On purchase of vehicle...1) registration fees of vehicle...2) one time road tax...3) insurence exp.

Thanks & Regards
Amit Mathur
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Raghavendra

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Raghavendra (Expert)
07 November 2016 For purchase of vehicle, all are in capital nature, but subsequent renewal will be in revenue expenses.
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Amol S Joglekar

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Amol S Joglekar (Expert)
07 November 2016 01 Registration fee : Add to cost
02. One time road tax : You can amortise the same over a period of 15 years
03. Insurance expenses : yearly insurance expenses can be treated as revenue expenses.
(If you select to capitalise all the above expenses, the income tax people will not challange the same)
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