NEW DELHI: The National Financial Reporting Authority has imposed a fine of Rs 50 lakh on chartered accountant Pawan Jain for professional misconduct. The regulatory agency had taken up the case after the income tax director general for investigation shared information about irregularities in tax deduction of Rs 1,135 crore claimed by Quess Corp during five financial years starting 2016-17.
The deductions were claimed based on the forms signed by Pawan Jain, a partner at Kumar Jain & Associates.
The
CA
has been charged with not verifying reorganisation businesses, something he had to check with Quess. He also failed to exclude employees for which Quess was getting the benefit of the Employees’ Pension Scheme from government.
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