Subsidy received from state government for agricultural purpose
This query is : Resolved
15 February 2014
I have received a subsidy from Gujarat Green Revolution Company Limited for installing Micro Irrigation System in my agricultural land for growing cotton.
How should I treat it in computation of Income Tax for the AY 2013-14
15 February 2014
well it is a capital subsidy...so should not affect your taxable income...
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