Grants from Govt Incone Tax

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Grants from Govt Incone Tax
Query (Issue) Started By: - SIVA Bommareddy Dated:- 5-3-2018 Last Reply Date:- 5-3-2018 Income Tax
Got 3 Replies
Income Tax
We are MSME and have recvd a subsid .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... y 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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)...? R .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... eply By KASTURI SETHI: The Reply: At first, you are bound to follow terms and conditions of granting subsidy to you by State Govt. Reply By SIVA Bommareddy: The Reply: Dear Sir, Thanks for your re .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ply..! Should that mean that the payment recvd from Govt should not be considered as Income till 2019..? Reply By Ganeshan Kalyani: The Reply: since it is income accrued but not realised you can acc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ount it as deferred income.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X