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With the Ministry of Finance in the process of drafting new direct tax code Bill to be introduced in the winter session of Parliament, there is an urgent need for the Ministry to amend the definition of ‘accountant’ under Section 288(2) so as to include the members of the Institute of Cost and Works Accountants of India (ICWAI) as accountants, in line with various other Acts, and also allow the members holding the CoP of the ICWAI to certify accounts under Section 44-AB.

This rightful place has been denied to ICWAI member since 1984 for obvious reasons.

Wisdom and reason should prevail in the overall interest of the nation.

MBAs in finance and post-graduates in accounting and finance should be allowed to act as tax practitioners.

They should also, in addition to CA/ICWAI members, be allowed to act as authorised representatives and ICWAI member should also be allowed to represent cases on behalf of client at the national tax tribunal in addition to CAs/Advocates.

Tumpa Dutta e-mail

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