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CBDT notifies amended Rule 8D for computation of disallowance u/s 14A, clarifies that amount of disallowance as computed under Rule 8D shall not exceed total expenditure claimed by the assessee; Deletes sub-clause (ii) in Rule 8D(2) which dealt with computation of expenditure towards interest (not directly attributable to any particular income/ receipt) as per the prescribed formula; Increases the rate to be applied on annual average value of investments from 0.5% to 1%; Amended Rule shall come into force on the date of its publication in the Official Gazette: CBDT #pdf
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