KSCAA registers protest on use of CA name in income tax refund scam

KSCAA registers protest on use of CA name in income tax refund scam.  Press release of the Income tax had alleged CA as the accused in the scam

Karnataka State Chartered Accountants Association (KSCAA) in a letter written to the Principal Chief Commissioner of Income Tax Bangalore,  has registered its strong protest to the Press Release issued by the Director General of Income Tax (Investigation), Karnataka & Goa related to income tax refund scam.

According to the said Press Release, a practicing chartered accountant was allegedly had a hand in glove with the fraudulent income tax refund claims by filing revised returns in connivance with the employees of nated companies like IBM, Vodapfone, Biocon, Infosys, ICICI Bank, CISCO etc. in lieu of a percentage commission or return.

The KSCC has pointed out that ultimately the person alleged to be a chartered accountant has turned out to be a “consultant” who was falsely pretending to be a CA to lure clients. Whereas the Media , on the basis of the said Press Release has painted the CA Community in a bad light.

The KSCC has expressed concerns  on the Media news claiming that raids had been conducted on number of CA offices in this regard and projecting a sad state of affairs in the CA profession  which was totally baseless and was triggered by such Press Release of the Income Tax Officials.

The letter written by the KSCC it had requested the Income tax Commissioner to issue a Press Release clarifying the issue and exercise restraint in communication till trial of the subject.

Karnataka State Chartered Accountants Association (KSCAA) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act in the year 1957. KSCAA is primarily formed for the welfare of Chartered Accountants and represents before various regulatory authorities to resolve the professional problems faced by chartered accountants. KSCAA regularly conducts seminars, conferences, work-shops, study circle meetings of professional interest for members and public. The Association also conducts Endowment lectures.