https://www.taxtmi.com/acts?id=14684 Government grants are recognised only when there is reasonable assurance that attached conditions will be complied with and that receipt is probable. Grants resembling promoters' contribution are credited to capital reserve; grants related to depreciable assets may be deducted from asset cost or treated as deferred income and amortised over the asset's useful life; revenue grants are recognised systematically to match related costs and shown either as other income or as a deduction from the related expense. Refundable grants adjust deferred credits, asset book value or capital reserve and are disclosed. en-us Sat, 04 Jun 2011 12:05:03 +0530 Mon, 18 Apr 2016 15:21:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14684 Government grants are recognised only when there is reasonable assurance that attached conditions will be complied with and that receipt is probable. Grants resembling promoters' contribution are credited to capital reserve; grants related to depreciable assets may be deducted from asset cost or treated as deferred income and amortised over the asset's useful life; revenue grants are recognised systematically to match related costs and shown either as other income or as a deduction from the related expense. Refundable grants adjust deferred credits, asset book value or capital reserve and are disclosed. Act-Rules Companies Law Sat, 04 Jun 2011 12:05:03 +0530 https://www.taxtmi.com/acts?id=14684