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As-19 finance lease

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 October 2012 My Company purchase a land from a party, for this purpose we take a loan from financial institution and submit our property paper( Sale Deed ) as security to financial institution .can this loan treated as a Finance lease in our books as per AS-19.
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CA Pooja Agarwal

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CA Pooja Agarwal (Expert)
19 October 2012 for that there has to be proper lease agreement
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Vivek Hebbar

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Vivek Hebbar (Expert)
24 October 2012 I think there is no question of lease over here.
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