EASYOFFICE
EASYOFFICE

Should be capitalized

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(Querist)
27 March 2022 insurance expenses, Road Tax first Time at the time of buying car , as per AS 10 , should be capitalized,
second time and afterwards insurance charges should be transferred to P/L account as a revenue expenses.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 March 2022 Yes, you are right capitalise as proposed above.

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