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sankalp, thinks that this query could be Invalid as Law has been amended.

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Query Details

Asked by ashish on :Mar. 16, 2018

HiI have purchased an assets having the useful li…

HiI have purchased an assets having the useful life of 10 years for 9 years on the agreement that a…

Hi

I have purchased an assets having the useful life of 10 years for 9 years on the agreement that assets will be returned. Is it finance lease?

0

Jeeba Mar. 16, 2018

Yes, this will be the finance lease. This is because the lease will be classified as a finance lease, if a substantial portion of the life of the asset is covered by the lease term.

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Harassing: Disrespectful or rude towards a person or a group. Spam: Promotes an undisclosed link or product or service. Ingenuine: Not seeking genuine answers. Rotten: Vulgar, Obscene, abusive etc... Alien: Not a post on law or business. Plagiarism: Copied from other website or source and pasted here. Unformatted: Has bad format, grammar, spelling so requires moderatation.

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