About government subsidy
This query is : Resolved
15 December 2012
One of our Client had got a subsidy of Rs. 2 Lakh where i have to show it in balance sheet (as per New Sechdule VI) if i am following capital approach as per AS 12
can i add it upto capital reserve or please tell me the solution
can i add it upto capital reserve or please tell me the solution
15 December 2012
Hi Ramesh,
It is appropriate to follow capital approach if the grant is in the nature of promoter contribution....and u r correct that you have to shown it under Capital Reserve head as per New Schedule VI
It is appropriate to follow capital approach if the grant is in the nature of promoter contribution....and u r correct that you have to shown it under Capital Reserve head as per New Schedule VI
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