Case:
Mr. A is giving property on a lease of 50 cent and 1 crore for 99 years to build a medical rehabilitation unit.
Condition: After 99 years we need to give back property with constructed building.
How do we need to book the same in books of account?
if it is non cancellable lease, you need to follow AS 19.
sorry. leasing of land not covered under AS19.
Chirag N Shah & Associates
Mumbai
CA Inter
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