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Tax consultants, also know as tax advisors, are experts in tax law, planning and compliance. They serve businesses and individuals alike by staying current on new tax law and positioning taxpayers for short and long term tax optimization. A tax consultant typically expands on the role of tax preparer. While tax consultants prepare tax returns, they also often work closely with clients throughout the year to ensure client tax liability is minimized. Tax consultants are strong written and verbal communicators able to explain tax law and strategies in a way that is accessible and easy for clients to understand. Tax consultants work for public accounting firms, law offices, financial consulting firms and many even have their own independent tax preparation and consultation businesses. In all settings, tax consultants can be expected to perform duties that include:Conducting research on tax lawsStrategizing with clients to minimize tax liabilityCommunicating with clients to explain tax is...

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The CBDT has extended due for filing of ITR and Tax Audit Report from 30 Sept. 2016 to 17 Oct. 2016 in respect of AY 2016-17 for tax payers throughout India whose accounts are audited. Clash with closing of Income Declaration Scheme 2016 on 30 Sept. 2016 itself may be the reason of suo-moto due date extension by the CBDT and that too in advance. CBDT Order dt. 9 Sept. 2016 under Section 119 of Income Tax Act, 1961 The last date for making declarations under the Income Declaration Scheme 2016 is 3oth September, 2016 which coincides with the last date of filing Income-tax returns by the tax payers whose accounts are audited and who are required to furnish the returns of income for Assessment Year 2016-17 by 3oth September, 2016 as per provisions of section 139(1) of Income tax Act, 1961. In order to remove inconvenience and to facilitate ease of compliance, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends ...