I was recently surprised when a CA I met told me he is not aware of the recent tax provisions as he was specializing only in Audit and Accounts of Companies. Is this the case with all CAs?
as far as it is concerned to me the % will be less then 3% because as a part of professional standards every Professional has to go through each and every amendments regularly.
The strange bit is what I find is that CAs who are not working with Tax are not uptodate with the Tax Provisions. They do have a general idea of the provisions but not full indepth knowledge. I guess this is because of time constraints. Some even say that they would not be able to pass our CA Exams now!!!
There is nothing for surprising. it is general nothing but specialisation. look other professions also, like MBBS who does general practice and MD who is specialised. in case of Advocates also there are specialisation. so there is nothing bothering about that auditing guy not having updation of taxation. He has expertise in his field it is enough for him.
About me, I am also a CA and was working in Audit, then in Accounting and Finance, and now in Taxation, so now if somebody ask me about new AS etc. I would have idea about it but not thorough, but you ask about tax updation it will be better. this does not means that I can't go in account or audit, whenever I start working in that area I can captur the field within short period. Because I have passed CA exam so I have capability of capturing that also.
So don't bother about it, if you are students just consentrate on study, after passing CA you will also be capable for choosing field of your choice. at that time such matters would not be significant. what is important, you should be master in the field which you choose. It may be general covering all segments, or specialised like accounting, auditing, taxation, IT, Finance etc.
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