MONEY SPENT ON WEBSITE CONTENT NOT TO BE TAXED

From now, money spent on the content of website will be exempt from tax. A division bench of the Mumbai Income Tax Appellate Tribunal (ITAT) passed this order on an appeal filed by Sedgwick Parekh Health Management. ITAT held that the expenditure was on services rendered by different professionals in running the website in a functional manner. These expenses have not been incurred for setting up the income earning apparatus of the company but for running and maintaining the income earning apparatus.