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Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Disallowance on account of lease equalization – if the annual ...

Income Tax

November 2, 2013

Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account by lease equalization charges to the extent of 20% of the value of asset as per the guidance note issued by ICAI. - AT

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