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Vehicle insurance

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(Querist)
30 December 2017 OUR COMPANY PURCHASED A NEW MOTOR CAR WORTH RS.27 LACKS
& PAID VEHICLE INSURANCE WORTH RS.80000/- ( DURATION 1 YEAR )

MY QUESTION - IS VEHICLE INSURANCE RS.80000/- IS TO BE CAPITALIZED
IN TO VEHICLE ASSET VALUE OR TREATING AS A PROFIT AND LOSS A/C
EXP.. PLEASE GUIDE US.


RAJKUMAR GUTTI
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RAJA P M

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RAJA P M (Expert)
30 December 2017 To be capitalized into Vehicle Asset as Rs. 27.80 lakhs
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
30 December 2017 Incidental Expenses to be capitalised along with Fixed Asset like insurance, Registration, Installation etc.
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