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Impact of lease rentals and interest free deposits under Ind AS 116

Impact of lease rentals and interest free deposits under Ind AS 116

Background Indian Accounting Standard 116, Leases which is applicable from period beginning on or after 1 April 2019 sets out principle for recognition, measurement, presentation and disclosure of leases. Ind AS 116 supersedes Ind AS 17, Leases. Ind AS 116 is based on the same principal as mentioned in IFRS 16, which is applicable for period beginning on or after 1 January 2019. Ind AS 116 has replaced the dual classification model of finance lease and operating lease in the…

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