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Capital or revenue exp.

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(Querist)
03 February 2016 hello sir, we have purchased tyres for car how should i treat it, debit to p&l or add in the value of vehicle
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
03 February 2016 Tyres purchase for car is NOT a capital expenditure. It is a revenue expenditure. It should be charged to P&L account. The correct ledger account will be Repair & Maintenance-Vehicle

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