SC: CBDT Circulars do not Bind Courts in Income Tax Matters || SC: Gujarat Saw Several Hooch Tragedies despite Prohibition on Liquor || SC: Interest Continues if Award-Holder Cannot Freely Withdraw Conditional Deposit || SC Urges Law Commission to Examine Law Governing Deposits Made in Courts || SC: Civil Court Cannot Grant Interim Relief While Leave Application Against Public Trust is Pending || Calcutta HC Upholds ITC Injunction, Says ‘Gold’ Has Acquired Secondary Meaning || MP High Court Denies Compensation as Pregnancy Pre-Dated Sterilization Surgery || Delhi HC: MACT Must Assess Claimant’s Need Before Denying Release of FDR Compensation || Delhi HC Orders Interpol Red Corner Notice Against Man Facing Contempt Over Remarks Against Judges || Gujarat HC Allows Seven-Day Parole to Convict in Bilkis Bano Case

ITAT, Pune: Reimbursement on Welfare Expenses Incurred by Multinationals in India Not Taxable - (18 May 2021)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Pune has said that reimbursement on welfare expenses incurred by multinationals in India shall not be taxable if two conditions are fulfilled. The Tribunal has said that there should be a one-to-one direct correlation between the outgo of the payment and inflow of the receipt, and secondly, the receipt and payment must be of identical amount that is without the profit element.

Tags : INCOME TAX APPELLATE TRIBUNAL REIMBURSEMENT ON WELFARE EXPENSES INCURRED BY MULTINATIONALS IN INDIA

Share :