Pharma marketing practices to continue to be under taxman radar

In a strong statement for the pharma and medical sector, the Chairman of the Central Board of Direct Taxes Nitin Gupta said the tax department will not allow any violation on account of expenditures incurred by pharma companies to medical practitioners and doctors.

Talking to CNBC-TV18, Gupta said, “I can say that the tax laws are very clear and consistent that any violation, any expenditure incurred or violation of tax laws on any allowable expenditure and this applies to all sectors of the economy be it pharma or any other sector.

We expect that the stakeholders especially from the pharma sector comply with the law of the land laid down by NMC or by any other statutory bodies. And that is the law which we follow while allowing or disallowing any expenditure claimed.”

Read more at : CNBC TVI18