GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Section 14A & Rule 8D - Expenditure in relation to income not includible in total income

Income Tax - Profit and Gains of Business or Profession - 85 - SEC - 14A & RULE 8D: EXPENDITURE IN RELATION TO INCOME NOT INCLUDIBLE IN TOTAL INCOME No deduction shall be allowed for any expenditure incurred in relation to any income which is exempt from tax under section 10 of Income Tax Act. Where the Assessing Officer, is not satisfied with - the correctness of the claim of expenditure made by the assessee the claim made by the assessee that no expenditure has been incurred in relation to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

an amount computed in accordance with the following formula, namely: A x B/C Where, A = amount of expenditure by way of interest other than the amount of interest included in (i) incurred during the previous year B = the average of value of investment, income from which is exempt under section 10, as appearing in the balance sheet of the assessee, on the first day and the last day of the previous year C = the average of total assets as appearing in the balance sheet of the assessee, on the first .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version