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stock of rental material

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04 February 2011 Our company sends goods to client's on rental basis. Rental period may vary from one month to more than one year. On completion of rental period, client returns goods to us. Whether material sent out on rental basis should form part of our closing stock at the year end?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
06 February 2011 If you giving the material on rental basis , you cannot treat is like stock. It is your assets. and rent is to be treated as operating lease receivable.
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