DISALLOWANCE OF AN EXPENSE
This query is : Resolved
Vivek Agarwal
(Querist)
31 July 2010
EXPENSES PAID AGAINST EXEMPTED INCOME IS ALLOWABLE AS EXPENDITURE? IF YES THAN TO WHAT EXTENT?
CA Sanat Pyne
(Expert)
31 July 2010
no any expenses related with exempted income will be disallowed.
Message likes :
1 times
Vivek Agarwal
(Querist)
31 July 2010
YA BUT 2 SOME EXTENT IT IS ALLOWABLE THAT I WANT 2 KNOW
CA Sanat Pyne
(Expert)
31 July 2010
if you are able to allocate then its o.k. otherwise proportionately.
Vivek Agarwal
(Querist)
31 July 2010
BT HW 2 CALCULATE IT?
31 July 2010
no expenses relating to any exempted income can be claimed as expenditure.. everthing wil be disallowed
CA Sanat Pyne
(Expert)
31 July 2010
yes if exp is exclusively for the purpose of exempted income then same will be disallowed. but for both, then proportionately disallowed.
Vivek Agarwal
(Querist)
19 May 2012
wait...its not a case of dis-allowance of exempt income..... by mistake dividend income shown as taxable income at the time of filing the return. its a computation error, against which department raised a demand.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
