https://www.taxtmi.com/acts?id=19811 Government grants are recognised only when there is reasonable assurance that conditions will be met and that the grants will be received; they are accounted for as income recognised systematically over the periods in which the related costs are expensed. Forgivable loans and benefits of below-market government loans are treated as grants when reasonable assurance exists. Grants related to assets may be presented either as deferred income amortised over the asset's life or deducted from the asset's carrying amount; repayable grants are accounted for as changes in accounting estimates with repayment applied against deferred credits or recognised in profit or loss as appropriate. en-us Thu, 04 Jun 2015 15:04:25 +0530 Fri, 08 Sep 2023 17:23:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19811 Government grants are recognised only when there is reasonable assurance that conditions will be met and that the grants will be received; they are accounted for as income recognised systematically over the periods in which the related costs are expensed. Forgivable loans and benefits of below-market government loans are treated as grants when reasonable assurance exists. Grants related to assets may be presented either as deferred income amortised over the asset's life or deducted from the asset's carrying amount; repayable grants are accounted for as changes in accounting estimates with repayment applied against deferred credits or recognised in profit or loss as appropriate. Act-Rules Companies Law Thu, 04 Jun 2015 15:04:25 +0530 https://www.taxtmi.com/acts?id=19811