whether details of rent should be disclosed in audit report

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SHANTANU SHARMA (Querist)
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26 August 2009 Hello everybody,
As per AS-19, whether details of rent paid during the previous year should be disclosed in notes to accounts?

vrnanda

vrnanda (Expert)
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03 September 2009 Hi Shantanu Sharma,

discloures in the notes to accounts should be provided with the previous year details.

AS per AS-19 Leases - You should disclose the lease rentals as to upto 1 year, 1-5 years and 5 year and above etc... those conditions you need to satisfy,

However if the lease rentals paid above the lock - in period need not be disclosed (after non-cancellable period).

Incase of the any further details, just ping me.

Regards,
V R Nanda