Tag Archives: exempt

Expenditure relating to exempt income

The Central Board of Direct Taxes (CBDT) issued a notice of amendments to Rule 8D of the Income-tax Rules, 1962. The rule concerns the disallowance of a claim for an expenditure relating to tax-exempt income. Read a June 2016 report [PDF 263 KB]

Payer not Liable to Deduct TDS if Payee income is exempt

Facts of the Case The assessee has paid an interest of Rs. 16,24,072/- in the Assessment Year 2011-12, Rs. 20,83,546/- in the Assessment Year 2012-13 & Rs. 25,33,431/- in the Assessment Year 2013-14 . The assessee contended before the Assessing Officer that tax was not deducted in respect of payment to Visvesvaraya Technological University as… Read More »