Sec. 14A Disallowance of expenses incurred on exempt income
This query is : Resolved
08 May 2010
How is the disallowance amount calculated u/s Sec. 14A? What are the expenses which are disallowed?
Thank you,
Regards,
Devendra
Thank you,
Regards,
Devendra
Aditya Maheshwari
(Expert)
08 May 2010
See rule 8D
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Aditya Maheshwari
(Expert)
08 May 2010
If any expenses can be directly attibutable to the investment then the same should be added. There is no list of expenses as such. They can be any expenses.
As per rule 8D
2. Interest which cannot be X Avg. Value of Stock
directly attributable ------------------------------
Avg. Total Assets
3. 0.5% of average value of Stock related to tax free
As per rule 8D
2. Interest which cannot be X Avg. Value of Stock
directly attributable ------------------------------
Avg. Total Assets
3. 0.5% of average value of Stock related to tax free
Message likes :
1 times
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