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 …
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Report Flipkart has lost an appeal against the Earnings Tax Department after it was asked to reclassify marketing expenditure and discount rates as capital expenditure, according to a report in The Economic Times. This ruling was made in December however has not been made public, according to the report. The report also stated that a senior authorities has actually validated th …
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