15cb - responsibility of chartered accountant

TDS 856 views 2 replies

Is there any personal liability on the CA if his certification in form 15CB went wrong ? I mean, his intrepretation of law was not accepted by the department and they issued notice to the assessee.

Please advise...

vinodaca74 @ gmail.com

Replies (2)

Form 15CB is a Certificate.

The CA is just certifying what the client has produced before him.

 

Hence, i dont think its a personal liability of the CA.

 

Prateek

In general, a Chartered Accountant (CA) certifying Form 15CB is expected to exercise due diligence and professional judgment. However, if the CA's certification was based on an honest interpretation of the law and their advice was reasonable at the time, they are typically not personally liable for any misinterpretation or subsequent notice issued by the tax department.

That said, professional liability could arise if the CA was negligent or failed to follow proper procedures while preparing the certification. It is important for the CA to provide the correct facts and ensure that they have sufficient supporting documentation and a clear understanding of the tax laws before certifying Form 15CB.

To mitigate risks and avoid errors, using our Excel-based utility to generate Form 15CA and 15CB XML in bulk ensures accurate data entry and filing, reducing manual errors.

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