Industry & Economy
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Taxation
ICAI seeks amendment to National Tax Tribunal Bill
Our Bureau
New Delhi
,
Dec. 28
THE Institute of Chartered Accountants of India (ICAI) has sought amendments to the National Tax Tribunal Bill 2004 to enable chartered accountants to present cases before the national tax tribunal (NTT) on behalf of the Central Government.
In a representation to the Central Government, the ICAI has highlighted that the entire profession as well as the institute are "very much concerned" about the provision of clause 13(2), which does not allow chartered accountants to present cases before NTT on behalf of the Central Government.
"This is not logical since chartered accountants are allowed to present the case of the assessee before the NTT," says a statement issued by ICAI here.
Further, ICAI has also held that the composition of NTT as proposed in the Bill needs to be reviewed to make it more broad-based.
The institute has suggested to the Finance Minister, Mr P. Chidambaram, to provide that chartered accountants in practice for stipulated number of years should be eligible for appointment as members of NTT.
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