Non-tax lease,
Definition of Non-tax lease:
Lease arrangement which, in effect, is a conditional sales contract. In such leases, the transfer of the asset is treated as a loan from the owner (lessor) to the tenant (the lessee) and, hence, the lessee can claim only the interest portion of the lease payment as an expense (and not the entire amount as in a tax lease or true lease). Capital leases are non-tax leases.
Meaning of Non-tax lease & Non-tax lease Definition
