CBDT Circular on Section 14a Of The Income-Tax Act, 1961, Read With Rule 8d Of The Income-Tax Rules, 1962 – Expenditure Incurred In Relation To Income Not Includible In Total Income – Clarification On Disallowance Of Expenses Under Section 14a In Cases Where Corresponding Exempt Income Has Not Been Earned During The Financial Year

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SECTION 14A OF THE INCOME-TAX ACT, 1961, READ WITH RULE 8D OF THE INCOME-TAX RULES, 1962 – EXPENDITURE INCURRED IN RELATION TO INCOME NOT INCLUDIBLE IN TOTAL INCOME – CLARIFICATION ON DISALLOWANCE OF EXPENSES UNDER SECTION 14A IN CASES WHERE CORRESPONDING EXEMPT INCOME HAS NOT BEEN EARNED DURING THE FINANCIAL YEAR CIRCULAR NO.5/2014 [F.NO.225/182/2013-ITA.II], DATED 11-2-2014…

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