Subsidy income of earlier year reversed due to non receipt

Tax queries 171 views 1 replies

26 Points Joined October 2014

For the year 2012-13 to 2015-16 TUF interest subsidy accounted, but not received till date.

due to non receipt receivable subsidy reversed during the current year & claim as deduction against current year income ???

Kindly advice on the same.

Thanks in advance

Replies (1)

Chartered Accountant in Practice

468 Points Joined June 2011

yes..please write off the accrued subsidy if there receipt is not reasonably certain.

It qualifies for claim under bad debt.

Summarize this with AI

Your are not logged in . Please login to post replies

Click here to Login / Register