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Grants from Govt Incone Tax, Income Tax |
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Grants from Govt Incone Tax |
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We are MSME and have recvd a subsidy on interest on term loan recently from our state govt. However the payment recvd can only be recognized if we complete 5 years under MSME category which will end in 2014-2019. If we are out of MSME catergory by virtue of any future investments upto 2019 we should pay back the subsidy recvd. How should we consider the payment recvd from govt...as income(income tax) or deffered income(mat)...? Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
At first, you are bound to follow terms and conditions of granting subsidy to you by State Govt.
Dear Sir, Thanks for your reply..! Should that mean that the payment recvd from Govt should not be considered as Income till 2019..?
since it is income accrued but not realised you can account it as deferred income. Page: 1 Old Query - New Comments are closed. |
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