07 November 2016
Dear All Plz tell me the following exp. Is capital or revenue exp. On purchase of vehicle...1) registration fees of vehicle...2) one time road tax...3) insurence exp.
07 November 2016
01 Registration fee : Add to cost 02. One time road tax : You can amortise the same over a period of 15 years 03. Insurance expenses : yearly insurance expenses can be treated as revenue expenses. (If you select to capitalise all the above expenses, the income tax people will not challange the same)