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.
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