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Disallowance u/s 14a

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Querist : Anonymous

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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))
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Aijaz Shaikh

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Aijaz Shaikh (Expert)
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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