The taxability of reimbursements has always been a contentious issue in India. However, before the taxability of reimbursements is discussed, it is important to understand when an amount constitutes reimbursement. The term reimbursement is not defined in the Income-tax Act, 1961 (‘ITA’), however, the same has been explained by the Indian courts.
Source Taxsutra
Latest Posts in "India"
- CBIC Clarifies GST Implications on Secondary or Post-Sale Discounts for Businesses
- India Slashes GST on Drones to 5%, Boosting Domestic Manufacturing and Sectoral Growth
- GST Reforms 2025: Boosting Textiles, Apparel Affordability, and Logistics Efficiency in India
- GST Credit Notes: Use Original Invoice Rate for Returned Goods, Not Revised Rate
- India Cuts GST on Renewable Energy to 5%, Boosting Solar Affordability and Green Jobs
