banner_ad

Award amount entry

A/c entries 1060 views 5 replies

ABC Company has recevied amount from governement (startup cell) for giving some presentation total amount amount Rs.30 Lakhs and ABC has utilised the amount for company expenses as per their terms and conditions. For this how I can pass the entry. please help..

 

Replies (5)

Income from Other Source Head, Other Income.

It will be taxable as per taxability of ABC ltd

Yes... I agreed to Ms Ruchika Somani.,

Book the amount to PandL account as Award or Other Income under Indirect Income head...
And
It will transferred to RESERVE AND SURPLUS.

Thanks for ur valuable reply...

 

Thanks for ur reply..

You are most welcome .. ...


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details