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
Jyoti Gupta (CA student) (71 Points)
15 September 2009Dear 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
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 15 September 2009
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..............!!!!!!!!!!!!!!!!