Disallowance u/s 14a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2011
whether bank interest paid on loans from bank towards cash credit and overdraft can be included in Amount of interest paid i.e. A = Total interest paid (for the given formula (AxB/C))
15 December 2011
It is to be included for calculating disallowance u/s 14A, on the presumption that loan taken is used for earning exempt income.
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