Dear colleagues
If there is no direct nexus between exempt income earned & the interest expenses ,then whether sec 14A read with rule 8D is applied or not ??
Please reply as earliest
thanking you
Dear colleagues
If there is no direct nexus between exempt income earned & the interest expenses ,then whether sec 14A read with rule 8D is applied or not ??
Please reply as earliest
thanking you
Rule.8DD(2) (ii)/(iii) clearly specifies that it has to be taken into computation irrespective of any direct nexus b/w the two........so it shall in included in the computation irrespective of its direct relation..............!!!!!!!!!!!!!!!!
CAclubindia
