Accounting treatment of grant received from state govt under uday scheme.

Sandip Kumar Sen (Sr.Manager(F&A)) (114 Points)

24 June 2016  
DISCOM will receive Grant from State Govt under UDAY scheme for payout the Loan of Bank & FI which was taken for Capital & Working Capital purpose. So pls indicate whether such grant will be treated as Income or Capital (Balance Sheet item). Pls indate its tax treatment as per ICDS norms.