Taxability of interest subsidy received by spinning mill
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2012
One of client (spinning mill) received 5 % interest subsidy under TUF scheme. Is this 5% amount taxable or non taxable
04 December 2012
In case you have fully claimed the interest as an expenditure, you have to show it as an income. Or, Interest expenditure has to be Net off by the amount of subsidy.
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