Since last couple of years this question has been become a Frequently Asked Question (FAQ) of each episode like what happened in last week in the wake of CBDT and Ministry of Finance virtually ignored and rejected the ICAI positions and written requests, representations made by the ICAI as a representing body of Chartered Accountants fraternity.

Since last two to three years issues like Bank audits, auditing scams, New Companies Laws provisions effecting auditors positions and risk etc have really leave the ICAI members in a corner where most of members are having a opinion that who is representing them and how he is being represented. Definitely, there is loss of credibility of ICAI and its elected council members in front of its members, various regulators, Government, CBDT, RBI and other bodies. 

In current episode, all concerned in ICAI were assured and taken it granted till last week of September 2013 that CBDT will extend the due date. This was repetitive communicated directly or indirectly in various seminars held in August and September. It was only after a confusing Notification/ press release by the CBDT on 26^th September 2013 that, The ICAI and its elected members started damage control type of exercise by sending letters requesting CBDT and Ministry of Finance to extend the tax audit due date. There is nothing to show that anybody at helm of the affair of the ICAI try to have meeting with Ministry of finance, CBDT, various industry chambers to represent the case strongly. Surprisingly there was no media release or protest from ICAI on this issue.

It is matter of high concerns that there was no official communication from the Direct Tax Committee of the ICAI to the members, industry and tax regulators. May be it is the inefficiency in the ICAI system that the person who  should head the Direct tax committee, is heading the Indirect tax committee and the person who is heading the indirect tax committee, should be  heading the direct tax committee.

Now it is high time for individual members and group of members to first send strong representations to ICAI and its council members to amend its way and have a policy to talk tough and act tough for any such future event. There is no meaning of praising a Company Bill which is prima facie against the interest of CAs and ICAI, same way there is no meaning in not going in public against the insensitivity on the part of CBDT and Ministry of Finance. It is a simple and important fact that, by not extending the due date, CBDT has open the Penalty Gateway  for non filling of tax audit report on business community. It is the Business community who run the show of this country by way of its contributions by way of taxes and employments. The only thing ICAI can do it to file a RTI with CBDT for the reasons of any actions taken or not taken on its representations and representations made by the other professionals’ bodies, NGOs and business chambers.

Individual members and group of members, various NGOs made by members should file Such RTI s with CBDT asking them details of various representation, number of time Updation of utilities and dates of such Updation, details of effects of such Updation in utilities, number of tax audit report filled date wise in September, details of consideration of various public representations and reasons why these representations are not considered in public interests, and most importantly what is public interests in  its notification dated 26^th September 2013 not extending due dates of tax audit report.