epages News [Chartered Accountants] Harsh days ahead for unscrupulous C As & Tax AdvisorsJul 15, 2004: The goodie days of putting the stamp on fictitious finance data in company books of accounts would be a thing of past if the proposed Finance Bill forjailing errant and unscrupulous Chartered Accountants and Tax Advisors comes into effect.
The new Bill discloses that the tax authorities possess power to nab errant Chartered Accountants and Tax Advisors to 3 months in jail and may extend to 3 years where they wilfully or with intent to enable any other person to evade tax makes or causes to make an effort to put false entry of any nature in the company’s books of accounts. The said bill has caused concern among the C As and tax advisors since they believe the same may be misused and create a web of fear among them in the execution of work.
Whichever way it is, this looks a good step and in the right direction if used in the proper way and worked up strongly against dishonest C As and tax advisors. There is a saying that reveals there exist black sheep in every profession and getting the real black sheep’s to face justice is an arduous process.
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