Exempt income
This query is : Resolved
08 November 2012
Can we claim expences in respect of Exempt Income???
08 November 2012
Please clarify more.
08 November 2012
Section 14A
Expenditure incurred in relation to income not includible in total income
For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred
by the assessee in relation to income which does not form part of the total income under this Act
From above it is clear that Expenditure not allowed for Income which does not form part of total income under Income Tax Act
Expenditure incurred in relation to income not includible in total income
For the purposes of computing the total income under this Chapter, no deduction shall be allowed in respect of expenditure incurred
by the assessee in relation to income which does not form part of the total income under this Act
From above it is clear that Expenditure not allowed for Income which does not form part of total income under Income Tax Act
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
