Rto fees and insurence expenses
This query is : Resolved
Querist : Anonymous
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
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
07 November 2016
For purchase of vehicle, all are in capital nature, but subsequent renewal will be in revenue expenses.
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)
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)
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- LIABILITY ADJUSTMENT
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- NRI INSURANCE ADVISOR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
