Dear Sir/Mam,
My Client have received subsidy against machinery loan in F.Y. 2017/18. In that 25,000/- interest subsidy and 1,25,000/- capital subsidy .Then ,which type of effects done in accounts book? and how can I show that in ITR.Are they effect in profit of books? Please advice me.and Thanks in advance for advice.
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About subsidy
Replies (5)
If you receive interest subsidy, then you have to treat it as indirect income. If you receive capital subsidy, you should deduct it from particular asset in proportion to asset value.
Okay thanks..but any changes are become in law regarding this related year that, capital subsidy count as income.?
No... You can deduct in Asset Account for capital subsidy.
How to receive subsidy from government pertaining to purchase of machinery?
Guide me.
Guide me.
You contact your respective SSI department.
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