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capital or revenue exp.

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(Querist)
29 January 2011 For accounting purpose,the amount paid for change in R.C & number of a vehicle is a capital or revenue exp? Pl. provide reason in support of your answer.

Thanks in advance.
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CA Navin Jain

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CA Navin Jain (Expert)
29 January 2011 Capital exp. if new vehicle is purchased all exp i. e. RC, ROAD TAX AND INSURANCE WOULD BE CAPITALIZED

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