Solar panels subsidy - books entry in tally

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For solar panels purchased with a 30% government subsidy, the subsidy amount should generally be adjusted against the asset cost and only the net amount capitalized in the books. In society accounts, the entry can be passed by debiting Subsidy Account and crediting Solar Panel Fixed Asset Account to reduce the capitalized value.

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(Querist)
23 July 2024 We bought solar panels and got 30% subsidy from government, how to pass entries in tally. how much amount to be capitalize and 30% where to transfer for Society books of accounts.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 July 2024 Adjust subsidy against capital cost and capitalise 70%.
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thotasrinivas

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thotasrinivas (Querist)
24 July 2024 How adjust? Adjustment entries please.. it's society
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 July 2024 Society same entry.
Debit subsidy A/C
Credit solar panel fixed assets A/C
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