Revenue or capital expendeture

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kesav (Querist)
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09 January 2013 What is treatment of Life tax paid on purchase of new car. whether we can charged to P&L or it shall be capitalised.

gk

srinivasan (Expert)
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09 January 2013 Expenditure incurred to put the asset into use includes the life time tax paid on it. Therefore it need to be capitalised.

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