plz tell me the gas subsidy in taxble income
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Plz tell me the gas subsidy in taxble income
Replies (6)
Yes it is taxable as Income from other source head
As per section 2(24) (xviii) of the Income Tax Act, LPG subsidy and other public welfare subsidies are now made taxable.
But the Centre clarified that LPG subsidy and other public welfare subsidies are not taxable in the hands of individual assessees.
But the Centre clarified that LPG subsidy and other public welfare subsidies are not taxable in the hands of individual assessees.
Yes it is taxable, rightly stated
As per CBDT clarification-- Gas subsidy if received by an individual in personal capacity, the same shall not be taxable.
Ya it ws error on my part, lpg subsidy is not taxable... its capital receipt
Dear Ankul,
Gas Subsidy received by Gas Company is Capital Receipt. therefore it is Not Taxable.
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