Question

Please discuss the obligations a tax accountant has to both the tax system and his/her client and some practical ways he/she should fulfill both of these obligations?

Answer 1

Obligations of a Tax Accountant:

A tax accountant is one who prepares the accounts of his client for furnishing the income of the client through income tax return. In this modern busy world no businessman or individual have that much time and knowledge to prepare his own account and file the income tax return. That’s why people approach Tax Accountant to get this job done in time and efficiently.

While a tax accountant is doing his job he has two sides or parties to be taken care of by him. One is his client, and another is the tax system or the government. His obligations towards the client can be enumerated as –

To provide proper knowledge about the tax system

To make the client aware about the dead lines of filling returns

To prepare the account of the client and furnish the income with much care so that, in future client face no problem for that.

He should advice the client best possible ways to minimise the tax burden.

He should give an overall safeguard to the client from the problems proceedings of tax system.

In safeguarding client’s interest the tax accountant should not practice such things which will affect the interest of the tax system. So, here also the tax accountant has some obligations towards the tax system or the government, which can be laid down as –

He should not hide any income of the client from the tax system

He should always follow the rules, regulations and guidelines of the tax system, a good tax accountant should follow a good discipline.

He should safeguard his client with the help of tax laws not by anything else.

So, these are the obligations which a tax accountant is having to the client and to the tax system. If a tax accountant can deliver these efforts to both the parties then he can be a successful tax accountant in practice.

Thank You.