Lpg subsisdy

A/c entries 17909 views 3 replies

LPG Subsidy are being credited directly to bank account now. I am not sure how to handle this. What Ledger should be defined? Is it a Taxable Income?

Thanks in advance for your help.

Replies (3)

LPG Subsidy is a Capital Receipt which should not come under the perview of Income Tax.  Create the ledger LPG Subsidy (to be created under Capital in Tally). On receipt of LPG Subsidy, the following entry is to be passed :

Bank A/c Dr

To LPG Subsidy A/c.

Thus the amount gets adjusted with Capital Balance.

Dear Sir,

We have Received the LPG SUBSIDY Saving Bank Acct 

Which head in tally

Dear Sir,

We have Received the LPG SUBSIDY Saving Bank Acct 

Which head in tally


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

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
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details