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Suraj (Querist)
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19 August 2014 in case of government grant received with respect to fixed asset purchased, we want to show the grant received as deferred income. after writing back a portion of it to P/L @ depreciation charged, Where shall we show the balance of deferred income in Balance sheet?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 August 2014 it will be transferred to reserves a/c when u rec and in proportion to dep to be chargeable on fixed assets every year equal amount shall be transferred to deferred income a/c and bal will be there under reserves in bal sheet

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Rupesh Jain

Rupesh Jain (Expert)
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20 August 2014 you can reduce the value of assets or you can make reserve and take depreciation amount in the reserve a/c and in profit and loss a/c

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