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ICAI proposes to continue relaxation on lease accounting K.R.Srivats New Delhi | Updated on April 12, 2021 Lease modification requires re-computation of lease liability using discount rate   -  istock.com/cnythzl× Move will bring respite to airlines, multiplexes, hotels With Covid-19 continuing to wreak havoc on the Indian economy, the CA Institute proposed to extend by one year the validity of an existing pandemic induced accounting relief on ‘leases’, bringing some respite especially for players in airlines, retail, multiplexes, hotel and telecom sectors. If and when approved, the lessees can account for the rent concessions (rent holiday, rent reductions) that they may receive from lessors during the pandemic as if they are not lease modifications for another one year from June 30, say accounting experts. The ICAI which had issued an exposure draft for the proposed change in Ind AS 116 (leases) that became mandatory from April 1, 2019 is now following the Internati

Sandip khetanAshok haldiaNational leaderFinancial accounting advisory servicesInternational accounting standards boardInternational accounting standardsCca instituteCo vidசண்டீப் கேட்டான்அசோக் ஹால்டியாதேசிய தலைவர்சர்வதேச கணக்குவைப்பு முறை தரநிலைகள் பலகைசர்வதேச கணக்குவைப்பு முறை தரநிலைகள்சிஏ நிறுவனம்இணை வித்கணக்குவைப்பு முறை