Justice For CostAccountants.Give them right of Tax Audit & proper Status of ACCOUNTANT.

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As new Direct Tax Code is being prepared which will repeal IT ACT 196I soon , so we want that even CMAs should be given the equal rights and status that CAs have.

Section 288 of the Income Tax Act describes the persons entitled to appear before any Income Tax Authority or the Appellate Tribunal, as an “authorized representative” of the assessee, in connection with any proceedings under the Act [otherwise than when the assessee is required to attend personally for examination on oath or affirmation]. Sub-section (2) gives list of such persons. Clause (iv) thereof includes ‘an accountant and clause (v) says ‘any person who has passed any accountancy examination recognized in this behalf by the Board’.

As per explanation below sub-section (2), “accountant” means a Chartered Accountant.

Suggested Draft Modification in Explanation below Section 288 (2) (iv):

[Explanation.—In this section, “accountant” means a chartered accountant or a *cost accountant* 

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