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Members would be aware that u/s 142(2A) of the Income Tax Act, the assessing officer after taking prior approval of Commissioner can direct the assessee to get books of accounts audited by a Chartered Accountant
even though such books may have been audited under any other law. The fees and expenses for such audit are determined by Commissioner and is to be paid to the Chartered Accountant by the assessee. If such payment is not made, its recovery is to be done as per the provisions of chapter - XVII-D in the I. Tax Act regarding recovery of arrears of tax.
It has been represented to CAA by some of the members that in many cases their fees and expenses for conducting such Audits u/s. 142(2A) are outstanding since long and they are not getting them even after frequent reminders and visits to the I. Tax Department.
It is decided by CAA to make a suitable representation to the Commissioner in this regard so that this issue may be sorted out in consultation with the department. Members are, therefore, requested to immediately supply to CAA on their letter head the details of their outstanding Bills giving full particulars of work done by them, the designation of concerned assessing officer and commissioner, so as to take up this matter with the I. Tax department.
For Chartered Accountants Association.
Niren Nagri
Sanjay B .Shah
(President)
(Chairman)
Legal and Representation Committee
Legal and Representation Committee
Date : 1-2-2002
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