I see a exempt income in the 'computation of income' via 1. Long term capital gains on sale of shares' and 2. Dividend Income' for a company.
How to calculate 14A disallowance? Request to explain clearly
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14a disallowance
Replies (1)
You can follow the course of action as per Rule 8D of Income Tax Rules.
The Expenditure in relation to Exempt income is Aggregate of following:
- Directly Tracable Expenditure in relaion to Exmpt Income Plus
- Pro-Rata Amount of Exps. (other than those included in 1) Plus
A*B/C
where,
A = Amount of Exps.;
B = Ave Value of Investments (income on which is Exemt);
C = Ave Value of Total Assests - 0.5% of 2. - B above
Kindly approach to your consultant for a proper solution.
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