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Income Tax Department Asks Ecommerce Giant Flipkart To Reclassify Discounts As Capital …

Earnings Tax Department Asks Ecommerce Giant Flipkart To Reclassify Discount Rates As Capital …

Ecommerce gamer Flipkart has actually lost an appeal against the Income Tax (IT) department over the reclassification of marketing expenditure and discount rates as capital investment, which involves significant tax liabilities. As per the judgment in December, the IT department desires ecommerce business to reclassify discounts as not an expense however a capital expen …

See all stories on this subject Amazon’s Great Indian Sale: the very best deals on mobile phones The “Republic Day Sale” by Flipkart that began on January 21 will end on January 23, while Amazon’s “Great India Sale” will conclude a day later on January 24. Industry players believe that money crunch at the end of the month remains not a problem with almost all e-commerce platforms and banks offering extra cashbacks and easy EMI choices …

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