Lpg subsisdy

LPG Subsidy are being credited directly to bank account now. I am not sure how to handle this. What Ledger should be defined? Is it a Taxable Income?

Thanks in advance for your help.

Replies (3)

LPG Subsidy is a Capital Receipt which should not come under the perview of Income Tax.  Create the ledger LPG Subsidy (to be created under Capital in Tally). On receipt of LPG Subsidy, the following entry is to be passed :

Bank A/c Dr

To LPG Subsidy A/c.

Thus the amount gets adjusted with Capital Balance.

Dear Sir,

We have Received the LPG SUBSIDY Saving Bank Acct 

Which head in tally

Dear Sir,

We have Received the LPG SUBSIDY Saving Bank Acct 

Which head in tally

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details