The finance ministry’s proposal to expand definition of accountant to include company secretaries and cost accountants in the new Direct Taxes Code has the chartered accountants’ community up in arms.

The draft of the DTC, placed for public comments early this month, proposes to widen the scope of the definition of accountant to include other professionals as well. In the Code, the accountants would be responsible for undertaking audit and certification of accounts of assesses, something which has been the domain of chartered accountants so far.

Read the Financial Express news report here.