banner_ad

Car Purchase

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 December 2008
If we purchase the car what the expenses should be capitalized what are to be treated as allowable expenses from Income Tax point of view?

1. Car Basic Cost
2. Taxes on Basic cost of Car
3. RTO Exp
4. Insurance
5. AMC
6. Road Tax
7. Registration charges
8. File charges for loan sanction
9. interest on car loan
10. Octroi & taxes
11. VIP Number Charges
12. Accessories
Profile Image

CA RAMESH KUMAR AHUJA

Profile Image

CA RAMESH KUMAR AHUJA (Expert)
26 December 2008 All expenses except at S.No. 5,8 &9 are of capital nature.
Profile Image

C A GROUP COACHING

Profile Image

C A GROUP COACHING (Expert)
26 December 2008 ALL OCST EXCEPT
AMC
LOAN SANCTION CHGS
INTEREST OF LOAN
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details