Tax treatment on transfer of leased asset
This query is : Resolved
17 July 2013
SIR
A company has transferred its leased land & Building acquired by it in 1989 .
I want to know what is tax treatment for Both type of Lease .
and how to know if it is financial lease or operating lease .
A company has transferred its leased land & Building acquired by it in 1989 .
I want to know what is tax treatment for Both type of Lease .
and how to know if it is financial lease or operating lease .
17 July 2013
for knowing whether its a financing or operating lease refer AS 19 - accounting for leases.
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