LPG subsidy

717 views
User Avatar

20 Points Posted on 26 September 2020
what is the treatment of LPG subsidy received from government?
0 Reply Share Follow
On 26 September 2020 at 17:19 Report
Replies (4)
Quick Summary
LPG subsidies received by individuals from the government are exempt from income tax. The Ministry of Finance has clarified that these subsidies are considered a refund of amounts overpaid to gas companies. Therefore, they do not need to be declared as income and are not subject to taxation.

User Avatar

T
20 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
20 Points Posted on 27 September 2020
LPG subsidy received by individuals in their bank accounts is exempt from income tax.
Reply
On 27 September 2020 at 01:43
User Avatar

20 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
20 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.
Reply
On 27 September 2020 at 14:24

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Which Aviation Services Can Air Ticketing Professi
  2. Section 87A
  3. GST on Transport
  4. Which software to buy
  5. Property Selling and buying
  6. Office Management System
  7. Can I pursue articleship alongside a regular full-
  8. Investment fund's income from ncd distribution to
  9. Comparative BS PL with Audit report
  10. Source of funds in IT returns

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details