28 March 2013
We have purchase a car. We have paid life tax for the car for Rs.196640-00. What is the entry for the above. I made the entry like this - is it correct or not please inform us.
Insurance A/c Dr - 54612-00 Other Exp A/c(Life Tax) Dr - 196640-00 Car A/c(Invoice Value)Dr - 1402742-00 Vehicle Maintenance A/c(other parts)Dr-26427-00
CAclubindia
