17 September 2011
hi sir/madam can any one clarify my doubt. One of our client is a pvt. ltd. The company got National award for micro , small & medium enterprises from central government . Money by cheque was also given under this award. my doubt is weither the money received under this award is taxable , if so under what section and the cheque was issued on the name of MD but not to company . what treatment need to be given in both companies books and MD personal books of accounts please help. thanks in advance
CAclubindia
