03 April 2009
hiii frnds.. i hv a doubt related to incidental exp which is as follows....
A car has been purchased in the name of XYZ Co... Whether incidental expenses such as Registration chrgs, road tax etc are to be CAPITALISED?????Whether depre should be provided??????
03 April 2009
As per section 3 of Delhi motor vehicle taxation Act 1962 every vehicle owner has to pay road tax at the time of registration of his vehicle. So it has to be capitalised for charging depreciation.
CAclubindia
