Lease rentals paid by the lessee are deductible for computing taxable profits.

True

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False

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Solution

The correct option is A
True

True. Lease rentals paid by the lessee are deductible for computing taxable profits, and hence, lead to savings in taxes.

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Similar questions

Under the lease agreement, the lessee gets the right to

(a) Share profits earned by the lessor

(b) Participate in the management of the organisation

(d) Sell the assets

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