Income Tax department asks Flipkart to reclassify discounts as capital expenditure

MUMBAI: Flipkart has lost an appeal against the income-tax department over the reclassification of marketing expenditure and discounts as capital expenditure, which involves substantial tax liabilities. It could impact the way startups are taxed in the country, experts said.

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via Income Tax department asks Flipkart to reclassify discounts as capital expenditure