INCOME TAX CONSULTANT
Income tax law is the most widely and commonly used, among many fiscal laws enacted by the parliament of India. The field of Income Tax is distasteful for every tax payer. The complex nature of Income Tax Law makes the task even tougher for tax payer who not only has to understand it but also have to apply it in their personal life. Due to this, every common tax payer - an ordinary businessman, an industrialist, a doctor or a scientist gets frightened on hearing the words ‘Income Tax’.
The most widely interpreted fiscal law is compendious & complex in nature and its understanding is difficult and we need to hold expert’s finger, who understand its complexities, to guide us through. These experts are income tax consultants.
Though In India there is no formal qualification for the income tax consultant but Chartered Accountant and income tax lawyer are experts in the field of income tax.
CHARTERED ACCOUNTANT AS AN INCOME TAX CONSULTANT: The CA brand is instantly recognized as the elite of the financial profession. This brand quality is derived from the CA's steadfast commitment to the highest standards of integrity, professionalism and education, which make the qualification of CA worthy of the name Chartered. Words CA offers a guarantee that the candidate has practice, experience and the skill set to deal with tax issues in a commercially focused manner. The course of CA rigorously teaches skills of tax planning through interactive and practical learning grounded in tax law and real life tax planning issues
LAWYER AS AN INCOME TAX CONSULTANT: Law Graduates have cutting edge learning capacity as they are skilled readers and interpretators of language of the law. This ensures that the core competency and commercial problem solving skills are achieved by them, which make them successful income tax consultants. Moreover law graduated can represent their clients in courts, in the matters of litigation which CA can not do. This gives Lawyers to fill in the gap which is left by the CA as Lawyer can serve his client to the highest dispute solving authority i.e. Supreme Court.
INCOME TAX CONSULTANT WHO HOLDS BOTH QUALIFICATIONS, CHARTERED ACCOUNTANT AND LAWYER: This is the rare and most desired combination that one income tax consultant can have. Person holding both qualifications, being a CA and a Lawyer will be like having power & charisma of lion and smartness & cleverness of leopard. Apart from holding technical skills and intelligence of CA with the benefit of on job training, he will also hold shrewdness and smartness of a lawyer and which will serve the society for the good.
A person who hold above qualifications can serve the society with providing services of Chartered Accountants rendering services of auditing, VAT, company registration, accounting, investment advisory & planning, maintenance of accounts, income tax, FEMA matters, RBI related services, financial advisory & tax consultant, to name the few.
JASSPRIT S JOHAR
(CHARTERED ACCOUNTANT, TAX CONSULTANT AND FINANCIAL PLANNER).