Is the subsidy given to cotton business exempted ?
This query is : Resolved
15 June 2016
NABARD has given Subsidy to Cotton Ginning, Pressing and Bailing units by Notification dated 28-09-2012. Link to notification is----- https://www.nabard.org/pdf/letter_GoI_on_cotton_ginning_pressing_bailing_under_AMIGS.PDF. Is the subsidy exempted from Income-tax ? Please respond.
Thank you.
Thank you.
15 June 2016
capital subsidy is exempt, since it is capital receipt
15 June 2016
capital subsidy is exempt, since it is capital receipt
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