Question

1. List three or more reasons why at least a basic knowledge of tax policy is vital for a well-rounded tax professional.

Answer 1

1) it help them to advise their clients so that they can take proper deductions plus they can plan do their tax planning

and

2) giving proper adivise to clients helps to retain the clients in future and attract more clients

3) without proper knowledge the procedure to be followed to avail the deduction might not be followed due to which deduction could lapsed

4) to ensure we dont claim unncessary deduction -

5) it helps to generate proper revenue for government