Wednesday, August 22, 2018

Freight, telecommunication & insurance exp. excludable from export & total turnover for Sec. 10A pur

In order to rest the controversy in relation to freight, telecommunication charges and insurance expenses, the Central Board of Direct Taxes (CBDT) following Apex Court ruling in case of HCL Technologies [2018] 93 taxmann.com 33 (SC) has clarified that these exp. are to be excluded from both ‘export turnover’ and ‘total turnover’ while working out deduction admissible under section 10A.

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