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Capitalisation

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(Querist)
19 September 2011
first time Insurance and Road Tax of a new vehicle (Commercial) is to be capitalised or not?? what are the basis for such transaction??? provisions??
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
19 September 2011 Can be capitalized being an expenditure incurred before the asset is put into use.
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
29 September 2011 the expert is absolutely right
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