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RE LEASING & VALUATION
03-31-2010, 05:32 PM
Post: #1
RE LEASING & VALUATION
I need your help that I leased an assets (operating lease) after complition of leasing booked such assets by its deposit amount, i revaluate such assets which is higher than its leasing purchase deposit. Can i release such assets by its revaluated value? is there any section according to income tax laws?

please help me

thanks
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04-17-2010, 06:57 PM
Post: #2
 
According to Income Tax laws,leased assets are not considered your property therefore,no depreciation expenses are allowed.Instead all the lease payments that you make are an allowable business expense.
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