Treatment of subsidy
This query is : Resolved
28 August 2012
one of my client got DIC Subsidy and Coirboard Subsidy. I can show this subsidy as income. Where can i Adjust this subsidy.
CA Ghanshyam Joshi
(Expert)
28 August 2012
Subsidy received for Capital Investment i.e. for Fixed Assets should be credited to the Gross Block of the assets
If the subsidy is of revenue nature then it shoud be shown as Income in the profit and loss account.
If the subsidy is of revenue nature then it shoud be shown as Income in the profit and loss account.
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Vikky Vasvani
(Expert)
28 August 2012
agreed....
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