TMI BlogTREATEMENT OF GOVT.GRANTX X X X Extracts X X X X X X X X Extracts X X X X ..... Kindly guide regarding treatement of Govt Grant received for specific fixed assets(either depreciable or non depreciable) . if assets purchase in Year 2008 and grant is going to received after 3 year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after fullfilling certain conditions, what will be treatement of the same?. if grant is chargable as an income, kindly specify in which year and under which section it will be chargable. - Reply By ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GOPALJI AGRAWAL - The Reply = It seems that you have queried for grant of capital nature. Such grant is recognised at the time of reasonable assurance that the enterprise would comply with the condit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of the grant and the benefits have accrued and it is reasonable certain that ultimate collection will be made. In case of capital nature of grant, either it is reduced from the cost of the conc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erned asset or treated as deffered revenue income in case of depreciable asset and credited to capital reserve in caseof non depreciable assets. For detailed study, you may read the AS-12 available ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the following link: http://www.knowledgebible.com/forum/showthread.php/4590-12-Accounting-Standard-12-Accounting-for-Government-Grants-AS-12 - TREATEMENT OF GOVT.GRANT - Query Started By: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - PRAVIN SINGH Dated:- 14-4-2011 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
