Income from Insurance Investments Exempt from Section 14A Due to Changes in Section 44, First Schedule.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Determination of Income u/s 44 from Insurance Business - Disallowance u/s 14A – the provisions of s. 14A need not to apply while granting exempt ion to an income earned on sale of investment primarily because of the reason of the withdrawal or deletion of sub-r. 5(b) to First Schedule of s. 44 of IT Act - AT....