08-18-2009, 02:22 PM
If you only want to become Income Tax consultant then no specific qualification is required. You may open your office or use your contracts for providing consultancy in Income Tax . But if you want to become Income Tax Practitioner then you must hold a specific qualification as defined in Income Tax Rules,2002. The difference is consultant and Income Tax Practitioner is that as consultant you file all statements and returns of your client as well as perform function of e-filling and also give consultancy and legal opinion about tax law but you cannot fight a case of your customer or client before income tax tribunal but as Income Tax Practitioner you can fight tax cases of your clients before income tax tribunal as well as in superior courts i.e high court and supreme court.
<b>Prescribed qualification for registration as an income tax</b>
<b>practitioner.- </b> (1)
(1) For the purposes of the definition of âincome tax practitionerâ in
sub-section (11) of section 223, a person applying for registration as an income
tax practitioner shall-
(a) possess one of the following qualifications, namely-
(i) a degree in Law at least in the second division, a
degree in Commerce (with Income Tax Law and
Accounting or Higher Auditing as subjects or
parts of subjects, whether compulsory or
optional) or a degree in Business Administration
or Business Management (with Accounting and
Income Tax law as subjects or parts of subjects,
whether compulsory or optional) conferred by a
prescribed institution; or
(ii) a pass in a prescribed accounting examination.
(b) have worked for a continuous period of one year as an
apprentice under the supervision of a chartered
accountant, cost and management accountant, legal
practitioners entitled to practice in a civil court in
Pakistan 1[or] a registered income tax practitioner 2[and
having been registered as a chartered accountant, cost
and management accountant, legal practitioner and
income tax practitioner] for a period of not less than ten
years.
(2) For the purposes of sub-clause (i) of clause (a) of sub-rule (1), a
degree conferred by a prescribed institution that is a foreign university or
institution shall only qualify if the degree is equivalent to a degree conferred by a
Pakistani university and is recognised as such by a Pakistani university.
(3) In this rule,
(a) âInstitute of Chartered Accountants of Pakistanâ means
the Institute of Chartered Accountants of Pakistan
constituted under the Chartered Accountants Ordinance,
1961;
(b) âforeign institutionâ means any institution in a foreign
country authorised to grant a degree under the laws of
the country;
(c) âforeign universityâ means any university in a foreign
country incorporated by law, or accredited or affiliated by
any association of universities or college in the country
or by any authority formed for that purpose under the
laws of that country;
(d) âprescribed accounting examinationâ means any of the
following examinations, namely-
(i) an examination equivalent to the intermediate
examination conducted by the Institute of
Chartered Accountants of Pakistan;
(ii) an examination equivalent to the intermediate
examination conducted by any foreign institute
of chartered accountants and recognised by the
Institute of Chartered Accountants of Pakistan
as equivalent to its intermediate certificate;
(iii) an examination equivalent the final examination
conducted by the Association of Certified and
Corporate Accountants, London; or
(iv) Part-III of examination for Cost and
Management Accountants conducted by the
Institute of Cost and Management Accountants
under the Cost and Management Accountants
Act, 1966 (XIV of 1966); and
(v) Certified public accountants of USA.
(e) âprescribed institutionâ means a university incorporated
by any law in force in Pakistan or Azad Kashmir, a
foreign university or a foreign institution.
So if you are a C.A Inter or have passed first 3 stages of ICMA and have worked with a charted accountant,Cost and Management Accountant or Income Tax Practitioner then you may register as Income Tax Practitioner also.
For the purpose of registration as Income Tax practitioner please see Income Tax Rules,2002.
Regards,
Awais Aftab
<b>Prescribed qualification for registration as an income tax</b>
<b>practitioner.- </b> (1)
(1) For the purposes of the definition of âincome tax practitionerâ in
sub-section (11) of section 223, a person applying for registration as an income
tax practitioner shall-
(a) possess one of the following qualifications, namely-
(i) a degree in Law at least in the second division, a
degree in Commerce (with Income Tax Law and
Accounting or Higher Auditing as subjects or
parts of subjects, whether compulsory or
optional) or a degree in Business Administration
or Business Management (with Accounting and
Income Tax law as subjects or parts of subjects,
whether compulsory or optional) conferred by a
prescribed institution; or
(ii) a pass in a prescribed accounting examination.
(b) have worked for a continuous period of one year as an
apprentice under the supervision of a chartered
accountant, cost and management accountant, legal
practitioners entitled to practice in a civil court in
Pakistan 1[or] a registered income tax practitioner 2[and
having been registered as a chartered accountant, cost
and management accountant, legal practitioner and
income tax practitioner] for a period of not less than ten
years.
(2) For the purposes of sub-clause (i) of clause (a) of sub-rule (1), a
degree conferred by a prescribed institution that is a foreign university or
institution shall only qualify if the degree is equivalent to a degree conferred by a
Pakistani university and is recognised as such by a Pakistani university.
(3) In this rule,
(a) âInstitute of Chartered Accountants of Pakistanâ means
the Institute of Chartered Accountants of Pakistan
constituted under the Chartered Accountants Ordinance,
1961;
(b) âforeign institutionâ means any institution in a foreign
country authorised to grant a degree under the laws of
the country;
(c) âforeign universityâ means any university in a foreign
country incorporated by law, or accredited or affiliated by
any association of universities or college in the country
or by any authority formed for that purpose under the
laws of that country;
(d) âprescribed accounting examinationâ means any of the
following examinations, namely-
(i) an examination equivalent to the intermediate
examination conducted by the Institute of
Chartered Accountants of Pakistan;
(ii) an examination equivalent to the intermediate
examination conducted by any foreign institute
of chartered accountants and recognised by the
Institute of Chartered Accountants of Pakistan
as equivalent to its intermediate certificate;
(iii) an examination equivalent the final examination
conducted by the Association of Certified and
Corporate Accountants, London; or
(iv) Part-III of examination for Cost and
Management Accountants conducted by the
Institute of Cost and Management Accountants
under the Cost and Management Accountants
Act, 1966 (XIV of 1966); and
(v) Certified public accountants of USA.
(e) âprescribed institutionâ means a university incorporated
by any law in force in Pakistan or Azad Kashmir, a
foreign university or a foreign institution.
So if you are a C.A Inter or have passed first 3 stages of ICMA and have worked with a charted accountant,Cost and Management Accountant or Income Tax Practitioner then you may register as Income Tax Practitioner also.
For the purpose of registration as Income Tax practitioner please see Income Tax Rules,2002.
Regards,
Awais Aftab
