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Independent Tax Auditor - Rule 51A Notified by the CBDT to prohibit an Auditor (Chartered Accountant) to have business relationship with the client other than those specified in the Rule.

Independent Tax Auditor - Rule 51A Notified by the CBDT to prohibit an Auditor (Chartered Accountant) to have business relationship with the client other than those specified in the Rule. - Income Tax - 50/2015 - Dated:- 24-6-2015 - [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 50/2015 New Delhi, the 24th June, 2015 INCOME-TAX S.O. 1683 .....

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er rule 51, the following rule shall be inserted, namely:- 51A. Nature of business relationship.- For the purposes of sub-clause (viii) of Explanation below sub-section (2) of section 288, the term business relationship shall be construed as any transaction entered into for a commercial purpose, other than, - (i) commercial transactions which are in the nature of professional services permitted to be rendered by an auditor or audit firm under the Act and the Chartered Accountants Act, 1949 (38 o .....

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