Ind as 17 on own your vehicle scheme for employees
This query is : Resolved
25 January 2016
Suppose a Company has a vehicle policy for its employees wherein the Company purchases the vehicle hands it over to the employee. The employee pays 30% upfront and the balance amount (cost of the vehicle) in EMIs to the Company. The Company shows the vehicle as asset and claims depreciation on the same till EMI gets over and after that sells the vehicle to the employee. Please let me know if this will fall into Ind AS 17 – Lease (Appendix B and C)
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(Expert)
29 January 2016
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