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As 19 and as 28
What is the meaning of non cancellable lease in AS 19 and why do we use pre tax rate in AS 28?
Replies (1)
A non-cancellable lease is a lease that is cancellable only:
(a) upon the occurrence of some remote contingency; or
(b) with the permission of the lessor; or
(c) if the lessee enters into a new lease for the same or an
equivalent asset with the same lessor; or
(d) upon payment by the lessee of an additional amount such
that, at inception, continuation of the lease is reasonably certain.
Check this link , it is explained very nicely.
Further a https://220.227.161.86/eac/eacfinal/vol29/6.html
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