Whenever a company or a firm receives subsidy from government will we show as income under Profit & Loss Account???
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No, when we get subsidy 4m government, then amount of subsidy is deducted 4m the amount of asset or goods purchase. For e.g. If we purchase asset of rs. 10,00,000 and government give subsidy on that asset is rs. 50,000 then we saw the asset @ 9,50,000 on asset side.
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