banner_ad

LPG subsidy

645 views 4 replies
User Avatar

28 Points Posted on 26 September 2020
what is the treatment of LPG subsidy received from government?
Reply Share Follow
On 26 September 2020 at 17:19 Report
Replies (4)
User Avatar

T
405 Points Posted on 26 September 2020
Reduce from the total cost of assets then claim depreciation as per section 32 of it act under pgbp
Reply
On 26 September 2020 at 21:10
User Avatar

Tax and Business Consultant
11616 Points Posted on 27 September 2020
LPG subsidy received by individuals in their bank accounts is exempt from income tax.
66 Reply
On 27 September 2020 at 01:43
User Avatar

28 Points Posted on 27 September 2020
Under which section is subsidy exempted?
Reply
On 27 September 2020 at 10:13
User Avatar

Tax and Business Consultant
11616 Points Posted on 27 September 2020
Ministry of Finance has already clarified that LPG subsidies received by individuals in their bank account, is exempt from income tax. As it just a refund of amount paid in excess to the gas company.
66 Reply
On 27 September 2020 at 14:24


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details