Subsidy [agriculture] from government
This query is : Open
Kirti Sitani
(Querist)
19 May 2018
Assessee has income from Agriculture. New machine purchased for the field costed Rs 200000. Subsidy received from government later of Rs 75,000. What shall be the accounting treatment / asset value in books?
19 May 2018
Subsidy may be credited to the machine a/c.
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