Financial leased land

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trainee
199 Points Posted on 25 March 2013

 

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.
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On 25 March 2013 at 14:01 Report
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PRACTICING CA
2291 Points Posted on 25 March 2013

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

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On 25 March 2013 at 16:30
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trainee
47 Points Posted on 25 March 2013

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

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On 25 March 2013 at 16:58
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trainee
47 Points Posted on 25 March 2013
That means we must execute the document for atleast 12 years of lease period
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On 25 March 2013 at 16:59

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