https://www.taxtmi.com/article/detailed?id=7157 Section 14A disallows deductions for expenditure related to exempt income and empowers the Assessing Officer to determine such amounts when the assessee's claim is unsatisfactory. Rule 8D historically prescribed a three-part computation-direct expenditure, an interest-allocation formula, and a percentage allowance for indirect costs-but was substituted in 2016 by a simplified aggregate of directly attributable expenditure and a fixed-rate computation on average investments, capped by the assessee's total claimed expenditure. en-us Tue, 27 Dec 2016 15:36:15 +0530 Tue, 27 Dec 2016 15:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7157 Section 14A disallows deductions for expenditure related to exempt income and empowers the Assessing Officer to determine such amounts when the assessee's claim is unsatisfactory. Rule 8D historically prescribed a three-part computation-direct expenditure, an interest-allocation formula, and a percentage allowance for indirect costs-but was substituted in 2016 by a simplified aggregate of directly attributable expenditure and a fixed-rate computation on average investments, capped by the assessee's total claimed expenditure. Articles Income Tax Tue, 27 Dec 2016 15:36:15 +0530 https://www.taxtmi.com/article/detailed?id=7157