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Editorial Board on Accounts and Audit
  • Zero Rental Lease

    by Vishwanathan on Wednesday, July 24, 2019 at 06:44 PM

    Suppose a building is leased to a company for zero rentals, how will it be valued as per Ind AS116?

    Replied byEditorial Board Monday, July 29, 2019 at 07:45 PM

    Ind AS 116 defines ‘leases’ as a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration. So, in case of no consideration, the agreement can’t be classified as lease agreement.

 
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