As there is a number of taxes on the law book and the continuing tax info has become vibrant to the actual economics of business organisation. The valuation of taxes is very deeply connected with fiscal accounts. The Chartered Accountant has an advantageous position for preparing the returns for tax purposes, before the Income-Tax authorities, and general advice on taxes to his clients. An extra liability is placed on him according to whom his services will be prerequisite by the tax department for auditing very complex cases, having a very huge profit potential. The requirement under the Income-Tax law for compulsory maintenance of accounts by the specified categories of taxpayers would also make a demand on his time and services.
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