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yasaswi gomes (My grammar is 💯 good I)     18 September 2021



A B C D are four friendly companies in India. B company ordered distribution of electricity lines and got it installed for 1,00,000 plus 10,000 taxes paid. B was invoiced and B paid that sum. Now other three companies want to contribute and share expenses. So B is getting reimbursement 25,000 rupees and 2,500 taxes paid from A, C, D. Can I get a tax exemption for this transaction? 


 1 Replies

veerendar singh

veerendar singh (tax consultant)     18 September 2021

75000 received must be taken as income of B company.
alternatively you may also take it as reduction from the total cost of 100000.

anyway, this contribution cant be regarded as exempt income.
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