Accounting for leases is a sketchy subject in mischief of collection of morals having been given by the master accounting bodies each over the world. Two critical issues relate to the treatment of bundle game plans and the receptiveness of leased infers in the financial statements. Ends are isolated whether leased means should be replaced by tenants or lessors. The Indian position is furthermore perplexed and isolated. In this paper, we've given an appraisal of the Accounting morals proceeded in India and the transnational Accounting morals. We've in like manner generally investigated Exposure Draft and Guidance Note gave by the Institute of Chartered Accountants of India. An examination of the demonstrations of Indian associations concerning the Accounting of leases reveals the going with (a) working cycle for treating bundle plans is followed; (b) leased suggests are shown as own means on severe base still up in the air wastes by leasing associations; (c) straight-line dissuasion structure is followed to disparage the leased infers while Accounting worth system is used if there ought to emerge an event of held means; (d) leased scores are uncovered in notes by specific inhabitants; (e) Indian associations consider leasing as a reeling distance trade; (f) Indian Accounting practices are generally as per legal shows as under Indian Companies Act, 2013 and Income Tax Act, 1961. The ideal of this paper is to deal with the issues looked by leasing associations in India; and to overview the conceivable outcomes of the Indian Leasing Companies in India; and to assess the potential outcomes of the Indian leasing assiduity.

KEYWORDS: Leases, Operating Lease, Finance Lease, AS-19, ICAI.