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Can CMA do tax audit

11 July 2021

Hello
can any one please clarify that is there any announcement by Finance Minister that CMA are included in the accountant definition of sec 288 of income tax act 1961

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10 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 11 July 2021

Yes, the circular includes cost accountants into accountants definition

1 Like

Vasudevan C P (403 Points)
Replied 11 July 2021

Could please share such circular?

2 Like

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 12 July 2021

No I think CMA cannot conduct tax audit

divy harika manepalli (26 Points)
Replied 12 July 2021

But they are saying that they can conduct the tax audit and circular has been released

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 12 July 2021

It is true, MCA can conduct tax audit. Next an mba will study indirect taxation, advanced taxation and become a full fledged auditor

1 Like

CMA Poornima Madhava (CMA) (13097 Points)
Replied 12 July 2021

Originally posted by : divy harika manepalli
	But they are saying that they can conduct the tax audit and circular has been released

Can you share the circular?

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 12 July 2021

Sure: https://icmai.in/upload/Taxation/Rep_Modification_19072019.pdf

CMA Poornima Madhava (CMA) (13097 Points)
Replied 12 July 2021

This is the representation from ICMAI requesting the FM to include CMAs as accountants u/s 288. I'm referring to the circular from CBDT that has been stated above.