#Section 14A
Log in to FollowDisallowance under Section 14A of Income TAx Act, 1961
Income Tax
Income Tax
Section 14A – Onus on AO to show expenditure incurred to earn tax-free income
Income Tax
Income Tax
Section 14A & Rule 8D Disallowance Not Automatic
Income Tax
Income Tax
Provisions of Section 14A & Rule 8D constitutionally valid
Income Tax
Income Tax
Even if assessee not earns any exempt income, disallowance u/s. 14A can be made
Income Tax
Income Tax
S.14A ITAT disallowed expenditure for year prior to AY 2008-09
Income Tax
Income Tax
Pre Rule 8D Expenses to earn Exempt Income to be disallowed on reasonable basis
Income Tax
Income Tax
Operation of Rule 8D only from 2008-09 onwards
Income Tax
Income Tax
S.14A does not apply to shares held as stock-in-trade
Income Tax
Income Tax
Sub sections (2) & (3) of S.14A workable only wef date of introduction of Rule 8D
Income Tax
Income Tax
ITAT restricts disallowance u/s 14A for earning exempt dividend to 1% of dividend
Income Tax
Income Tax
Sec.14A & Rule 8D Disallowance Cannot Exceed Total Expenditure
Income Tax
Income Tax
In computing book profit u/s 115JB, S.14A not apply if expense to earn exempt income not debited to P&L account
Income Tax
Income Tax
Expenditure having no nexus with the earning of tax free income can not be disallowed u/s. 14A
Income Tax
Income Tax
