LPG Subsidy are being credited directly to bank account now. I am not sure how to handle this. Is it a Taxable Income? Thanks in advance for your help.
Hello,
It ll not be a taxable income.
If it is not a taxable income then under which section we can ask for deduction/rebate.
I am a proprietor and all my bank accounts are reported. As I am receiving the LPG Subsidy in one of account so how I do the voucher entry for the same in Tally?
Add the subsidy to capital account. and show also as drawing for payment of gas cylendar.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
