Disallowance in profit calculation u/s 115JB capped at 1% of exempted income, subject to Section 14A and Rule 8D limits.

Disallowance in profit calculation u/s 115JB capped at 1% of exempted income, subject to Section 14A and Rule 8D limits. https://www.taxtmi.com/highlights?id=53730 Disallowance while computing the profit u/s 115JB - disallowance limited on an ad-hoc basis @ 1 % of the exempted income under the clause (f) to Explanation-1 of Sec. 115JB of the Act subject to the condition that the disallowance shall not exceed the amount of disallowance determined by the authorities below under the provisions of section 14A r.w.r. 8D of Income Tax Rules. en-us Wed, 17 Jun 2020 11:17:55 +0530 Wed, 17 Jun 2020 11:17:55 +0530 TaxTMI RSS Generator Disallowance in profit calculation u/s 115JB capped at 1% of exempted income, subject to Section 14A and Rule 8D limits. https://www.taxtmi.com/highlights?id=53730 Disallowance while computing the profit u/s 115JB - disallowance limited on an ad-hoc basis @ 1 % of the exempted income under the clause (f) to Explanation-1 of Sec. 115JB of the Act subject to the condition that the disallowance shall not exceed the amount of disallowance determined by the authorities below under the provisions of section 14A r.w.r. 8D of Income Tax Rules. Highlights Income Tax Wed, 17 Jun 2020 11:17:55 +0530 https://www.taxtmi.com/highlights?id=53730