If the New vehicle purchased for Domestic purpose:
Purchase Cost+Reg Charge+any other exp releated same is capitalised what about Insurance Charge & One Time Reg/Road Tax payment to RTO.
If Commercial Purpose:
Annual payment to RTO for Road Tax.
1 Replies
sandeep
(article)
(31 Points)
Replied 06 December 2013
Capitalised all the expenses paid at the of purchase and for the annual charges treat as expenses in profit andd loss account
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