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Capital or revenue receipts

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Jagdish Bhalia

Practicing CA

28 Points Posted on 29 May 2010

Dear Freinds

Interest and Wage Employment Susidy received from Govt. is a CAPITAL Receipts or REVENUE Receipts. The above subsidy amount is based on Interest and Wages paid during the year.

My question is whether the above susidy is taxable in hands of assessee. Pls also give any judgement or case law on the above

Thanks

Replies (1)

CA Mohit kumar jain

Searching Source of Money

21 Points Posted on 29 May 2010

Originally posted by : Jagdish Bhalia
	Dear Freinds Interest and Wage Employment Susidy received from Govt. is a CAPITAL Receipts or REVENUE Receipts. The above subsidy amount is based on Interest and Wages paid during the year. My question is whether the above susidy is taxable in hands of assessee. Pls also give any judgement or case law on the above Thanks