CAPITAL INCENTIVE SUBSIDY
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2010
FIRM HAS RECEIVED SUBSIDY (CAPITAL INCENTIVE). HOW TO TREAT IT.
- DEDUCT FROM FIXED ASSET AND THEN CACULATE DEPRECIATION? OR
- TREAT IT AS CAPITAL RECEIPT.
IF IT IS TO BE TREATD AS CAPITAL RECEIPT THEN PL TELL ME THE DECISIONS IN THIS FAVOUR. WHETHER CIT Vs R C STORAGE CASE OF ALLAHABAD HIGHCOURT IS APPLICABLE?
- DEDUCT FROM FIXED ASSET AND THEN CACULATE DEPRECIATION? OR
- TREAT IT AS CAPITAL RECEIPT.
IF IT IS TO BE TREATD AS CAPITAL RECEIPT THEN PL TELL ME THE DECISIONS IN THIS FAVOUR. WHETHER CIT Vs R C STORAGE CASE OF ALLAHABAD HIGHCOURT IS APPLICABLE?
04 October 2010
YES CAPITAL SUBSIDY WILL BE DEDUCTED FROM FIXED ASSET AND THEN CALCULATE DEPRECIATION.
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