First Insurance of car

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 April 2011 is first insurance of car should be capitalised? is it optional?
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CA Navin Jain

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CA Navin Jain (Expert)
28 April 2011 YES, FIRST INSURANCE WOULD BE CAPITALIZED
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 April 2011 IS IT MANDATORY. WILL U PLS SEND ME REFERENCE WHICH I USE TO SATISFY MY SENIOR THAT IT IS TO CAPITALISED.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
28 April 2011 every exp which is necessary to bring asset in running position should be capitalised. without first insurance car can't be run on road. So it will be capitalised
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Mayur Agrawal

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Mayur Agrawal (Expert)
28 April 2011 agreed with CA Prashant Gupta

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