"A Chartered Accountant with more than 11 years of experience in the areas of Accounting, Taxation, Auditing, Financial Management."
Section 14A disallows expenses related to tax-exempt income. Rule 8D provides the formula, ensuring only taxable-income-related expenses are deductible.
Explains how Section 113 mandates surcharge on undisclosed income despite missing references in earlier Finance Acts. Clarifies legislative intent to tax high-income assessees.
