Lacuna in section 14A and rule 8D of IT Act 1961

CA HEMANT SHARMA , Last updated: 08 January 2015  
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Allowance of expenditure incurred in relation to exempted income during the assessment or otherwise would be prejudicial to the revenue thats why Section 14A was introduced by the Finance Act 2001 with retrospective effect from 1st April 1962 in Chapter IV of the Income Tax Act 1961 which inter-alia

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CA HEMANT SHARMA
(CA Practice )
Category Income Tax   Report

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