Treatment Of Gas Subsidy Received

Vasanth Shanker
watch_later 2 years, 1 month ago

The subsidy received for domestic LPG is credited to our Bank account. Is this amount taxable under Income Tax Act?

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1 Answer

GST Payer watch_later 2 years, 1 month ago

Gas is an expense for each of us. We get no deduction for buying GAS. Subsidy is nothing but refund of your own money.

It is not an income and no income tax is to be charged on it.

This is my opinion, others may have different opinions.

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