https://www.taxtmi.com/circulars?id=4958 Subsidies from State Governments to producers of regional feature films are not to be charged to tax; however, under the Explanation to sub rule (1) of rule 9A of the Income tax Rules, 1962, the cost of production must be reduced by any subsidy that has been included in computing the producer's total income, and conversely subsidies not charged to tax shall not be reduced from production cost for rule 9A purposes. The amendment and the concession apply to assessment years subsequent to the amendment's effective date. en-us Tue, 25 Jul 1989 00:00:00 +0530 Thu, 07 Aug 2008 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4958 Subsidies from State Governments to producers of regional feature films are not to be charged to tax; however, under the Explanation to sub rule (1) of rule 9A of the Income tax Rules, 1962, the cost of production must be reduced by any subsidy that has been included in computing the producer's total income, and conversely subsidies not charged to tax shall not be reduced from production cost for rule 9A purposes. The amendment and the concession apply to assessment years subsequent to the amendment's effective date. Circulars Income Tax Tue, 25 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4958