https://www.taxtmi.com/acts?id=40999 Government grants are recognised only when there is reasonable assurance of compliance with conditions and receipt; earned benefits are credited to income on a systematic basis to match related costs. Grants may be treated under a capital approach (credited to capital reserve as promoters' contribution) or an income approach (amortised to profit and loss). Grants related to fixed assets are either deducted from asset carrying amount or treated as deferred income and amortised; non-monetary grants are measured at acquisition cost or nominal value if free. Refundable grants are charged as extraordinary items and offset against deferred credits where applicable. en-us Sat, 05 Nov 2022 12:00:32 +0530 Tue, 06 Jan 2026 15:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40999 Government grants are recognised only when there is reasonable assurance of compliance with conditions and receipt; earned benefits are credited to income on a systematic basis to match related costs. Grants may be treated under a capital approach (credited to capital reserve as promoters' contribution) or an income approach (amortised to profit and loss). Grants related to fixed assets are either deducted from asset carrying amount or treated as deferred income and amortised; non-monetary grants are measured at acquisition cost or nominal value if free. Refundable grants are charged as extraordinary items and offset against deferred credits where applicable. Act-Rules Companies Law Sat, 05 Nov 2022 12:00:32 +0530 https://www.taxtmi.com/acts?id=40999