Section 515(3)(b) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 515(3)] [Section 515] [Entire Act]

Union of India - Subsection

Section 515(3)(b) in The Income Tax Act, 2025

(b)“accountant” means a chartered accountant as defined in section 2(1)(b) of the Chartered Accountants Act, 1949, who holds a valid certificate of practice under section 6(1) of that Act, but does not include [except for representing the assessee under sub-section (1)],—

(i)in case of an assessee, being a company, a person who is not eligible for appointment as an auditor of the said company under section 141(3) of the Companies Act, 2013; or

(ii)in any other case,—

(A)the assessee himself, or in the case of being a firm or association of persons or a Hindu undivided family, any partner of such firm or a member of such association or such Hindu undivided family;

(B)for an assessee, being a registered non-profit organisation, any person referred to in section 355(h)(i) or (ii) or (iii) or (iv);

(C)for any person other than the persons referred to in sub-clauses (A) and (B), the person who is competent to verify the return under section 263 as per section 265;

(D)any relative of any of the persons referred to in sub-clauses (A), (B) and (C);

(E)an officer or employee of the assessee;

(F)an individual, who, is a partner, or who is in the employment, of an officer or employee of the assessee;

(G)an individual, who or his relative or partner—

(I)is holding any security of, or interest in, the assessee and the face value of such security or interest held by his relative does not exceed ₹100000;

(II)is indebted to the assessee, and such debt in case of his relative does not exceed ₹100000;

(III)has given a guarantee or provided security in connection with the indebtedness of a third person to the assessee and such relative gives a guarantee or provides security for an amount not exceeding ₹100000;

(H)a person who, whether directly or indirectly, has business relationship with the assessee of such nature, as may be prescribed;

(I)a person convicted by a court of an offence involving fraud and ten years has not elapsed from the date of such conviction.

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Union of India - Subsection

Section 515(3)(b) in The Income Tax Act, 2025