14 July 2023
What is the accounting and income tax treatment of subsidy received under MLUPY If Subsidy Received is against Term Loan ? if Subsidy Received is against Working Capital Loan ?
19 July 2023
The amount of ex-gratia in such cases would be regarded as a reduction of the interest expenditure, or as a business or professional receipt. In either case, this would increase the taxable income and, therefore, effectively be taxable as income.
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