About Depriciation
This query is : Resolved
20 March 2021
I bought a new car , I pay all charges of new car to showroom owner for example = car value (600000)+ insurance (25000) + Registration fees extra( 45000) , can I claim depriciation on whole amount 670000 in my books ; my accountant says I don't claim insurance value
( 25000)for depriciation, pls suggest me ?
( 25000)for depriciation, pls suggest me ?
20 March 2021
Insurance is payable yearly so it can't be capitalised.
Only one time payment can be capitalised.
Only one time payment can be capitalised.
20 March 2021
Means Ist time paid insurance is counted in car total value and I can get depriciation on this value ?
20 March 2021
Insurance premium is compulsory to use the car and hence the first time payment should be capitalised and hence depreciation can be claimed on the whole amount viz., Rs. 6,70,000.
20 March 2021
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