LPG Subsidy are being credited directly to bank account now. I am not sure how to handle this. Is it a Taxable Income? Thanks in advance for your help.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 23 February 2015
Hello,
It ll not be a taxable income.
Tripathy
(Proprietor)
(55 Points)
Replied 23 February 2015
If it is not a taxable income then under which section we can ask for deduction/rebate.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 23 February 2015
Tripathy
(Proprietor)
(55 Points)
Replied 23 February 2015
I am a proprietor and all my bank accounts are reported. As I am receiving the LPG Subsidy in one of account so how I do the voucher entry for the same in Tally?
arif
(y)
(27 Points)
Replied 24 February 2015
arif
(y)
(27 Points)
Replied 24 February 2015
Kaushik Joshi
(Practising Chartered Accountant)
(1527 Points)
Replied 24 February 2015
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 24 February 2015
Add the subsidy to capital account. and show also as drawing for payment of gas cylendar.
Kaushik Joshi
(Practising Chartered Accountant)
(1527 Points)
Replied 24 February 2015
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