About lpg subsidy
This query is : Resolved
19 February 2015
What will be the tax impact on the subsidy receiving direct into bank account for LPG.
CA R SEETHARAMAN
(Expert)
19 February 2015
The money that the government transfers directly to consumers' bank accounts as LPG subsidy may well be considered as an income and taxed.
Rupesh Jain
(Expert)
20 February 2015
there is no income or expenses.
due to your income already taxable in your hand then you make exp. and you get some amount return out of this exp.
income taxable only one time.
due to your income already taxable in your hand then you make exp. and you get some amount return out of this exp.
income taxable only one time.
CA R SEETHARAMAN
(Expert)
20 February 2015
It is a subsidy income credited to your bank account which is not exempted, hence taxable.
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