Lease Treatment
This query is : Resolved
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
(Expert)
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.
27 February 2008
AS PER ACCOUNTING STANDARD 19 LEASE EXPENDITURE IS ALLOWABLE BUT TREATMENT DEPENDS ON NATURE OF LEASE
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