Financial leased land

Tax queries 275 views 3 replies

 

The company is intended to lease a land and building to get its benefit on
depreciation i.e financial lease.Now someone told me that there is specific time
period for which the lease it required to be under the lessee for availing the
benefit but I m not getting the specific provision, case law or section in support
of that view.
Replies (3)

there is no provision like that. company can get benefit from the beginning of lease period.

A person told me that the lease should be  for atleast 12 years to derive the benefit.Is that so.

That means we must execute the document for atleast 12 years of lease period


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