Lease Treatment

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RAMNATH.R (Querist)
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26 February 2008 Very recently we moved to our New office. All furnitures and fixtures and interiors were new installments and we got into a leaseing arrangement to get these assets funded. Can the above be treated as Operating lease....

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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26 February 2008 Yes. The lease expenditure is allowed as expenditure, although Accounting standard may require a different treatment depending upon the exact nature of the lease.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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27 February 2008 AS PER ACCOUNTING STANDARD 19 LEASE EXPENDITURE IS ALLOWABLE BUT TREATMENT DEPENDS ON NATURE OF LEASE

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