we ( partnership Firm) received a grant from IIM of Rs.7lac & treat as Indirect Income (Bank A/c -DR & Grant received -CR)but profit increse.
.
How deducted this grant from Profit in Income Tax return ?
we ( partnership Firm) received a grant from IIM of Rs.7lac & treat as Indirect Income (Bank A/c -DR & Grant received -CR)but profit increse.
.
How deducted this grant from Profit in Income Tax return ?
is there any other solution to avoid tax liablity on grants
CAclubindia
