CA Be Careful: NFRA levies penalty of Rs.50 lakhs on CA for wrong certification of form 10D under IT Act 1961
NFRA found irregularities in deduction of Rs.1135.41 crores claimed by listed company u/s 80JJAA of Income Tax Act 1961 based on form 10DA certified by CA for the years 2016-17 to 2020-21. NFRA held the CA liable for professional misconduct by way of gross negligence in performing professional duties u/s 132(4) of Companies Act 2013.
The copy of the order is as under:
