Easy Office
LCI Learning

Section 14A disallowance--URGENT

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
14 May 2011 For investment made out of borrowed funds,is the interest disallowed proprtionate to the income earned or the entire amount of interest is disallowed.

For eg. Interest expended is 100
Dividend income = Rs. 20
What will be the amount of disallowed interest in this case?

Is there a case law relating to the same.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
14 May 2011 see rule 8D for ur query.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 May 2011 what will be the amt of interest considered for calculation purpose in this case..
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA MANOJ GUPTA

Profile Image

CA MANOJ GUPTA (Expert)
15 May 2011 iF THE ENTIRE INTEREST IS RELATED TO DIVIDEND EARNED THEN ENTIRE AMOUNT WILL BE DISALLOWED
CA MANOJ GUPTA
JODHPUR
09828510543
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
16 May 2011 Entire interest will be considered as per the formula given in the rule.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess


Answer Query



Quick Links