Disallowance of expenses incurred for exempt incomes under 14A

The expenses which are relatable to earnng of exempt income have to be considered for disallowance, irrespective of the fact whether any such income has been earned during the financial-year or not. Further, Rule 8D read with section 14A of the act provides disalowance of expenditure which is not directly attributable to any particular income.

To view the full circular, please follow the link.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s