https://www.taxtmi.com/notifications?id=24157 Grants-in-Aid (cash or in kind) are to be recognised by the grantor on disbursement and by the grantee on receipt; in-kind grants are recognised on receipt where valuation exists. Grants disbursed are classified and accounted as revenue expenditure in the grantor's financial statements and grants received as revenue receipts in the grantee's statements, irrespective of the grantee's ultimate use, except where specific presidential authorization permits capital accounting. Pass-Through Grants follow the same revenue treatment. In-kind grants must be valued or disclosed using grantor cost, market value or replacement cost, and grantors must disclose total funds released and amounts allocated by grantees for capital asset creation in a prescribed format. en-us Thu, 19 May 2011 00:00:00 +0530 Thu, 30 Jun 2011 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=24157 Grants-in-Aid (cash or in kind) are to be recognised by the grantor on disbursement and by the grantee on receipt; in-kind grants are recognised on receipt where valuation exists. Grants disbursed are classified and accounted as revenue expenditure in the grantor's financial statements and grants received as revenue receipts in the grantee's statements, irrespective of the grantee's ultimate use, except where specific presidential authorization permits capital accounting. Pass-Through Grants follow the same revenue treatment. In-kind grants must be valued or disclosed using grantor cost, market value or replacement cost, and grantors must disclose total funds released and amounts allocated by grantees for capital asset creation in a prescribed format. Notifications Companies Law Thu, 19 May 2011 00:00:00 +0530 https://www.taxtmi.com/notifications?id=24157