Disallowance under sec 14a

Dear Sir,
For the purpose of section 14A do we have to consider following investments,
1. Investments from which we dont receive dividend
2. Investments which are sold during the year giving rise to LTCG exempt under 10(38) as this doesnot form part of total income,
 
Replies (2)

according to me 

1. no

2. yes

You have to consider the av. Investment ( in the opening and closing). From which you have earned income which does not form part of total income

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