TaxTMI 
TaxTMI 
DETERMINATION OF BOOK PROFIT
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....ETERMINATION OF BOOK PROFIT<br> Query (Issue) Started By: - S.C. WADHWA Dated:- 14-11-2013 Last Reply Date:- 19-11-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>An Assesse engaged in making investme....
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....nts in shares & other securities. The assesse deals in shares whereas amount invested in other securities are held as investments. The assesse received dividend income on it. While computing income f....
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....rom business & profession, it added back 1. Expenditure incurred in relation to exempt income 2. Amount determined under Section 14A read Rule 8D ( at the rate of .5 percent of average of investment....
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....s) Expenditure incurred in relation to exempt income (as aforesaid in point no. 1) was also added back in determining book profit but amount determined u/s 14A (point no. 2) was not added back. In c....
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....ourse of assessment proceedings, the assessing officer required the assesse to add back also the amount determined under Section 14A (point no. 2) as aforesaid. Please advise whether the amount deter....
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....mined u/s 14A (point no. 2) should be added back because the provisions governing determination of book profit requires the amount to be added back which has been debited to profit & loss account. Pl....
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....ease give your expert opinion. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Whether you have got clarified in the above said issue? If not please inform.<br> Discussion Forum - Knowledge Sharing ....