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Institute of Cost Accountants of India has submitted suggestions on New Direct Tax Law on 23rd May 2018  to Finance Minister Shri Piyush Goyal and suggested Inclusion Of “Cost Accountants” Under The Definition Of “Accountant” U/S 288(2) Of Income Tax Act, 1961.

Suggestions and submissions

The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)

Headquarters: CMA Bhawan, 12 Sudder Street, Kolkata-700016
Delhi Office: CMA Bhawan, 3 Institutional Area, Lodi Road, New Delhi-110003
Ph: 091-11-24666100

May 23, 2018

Shri Piyush Goyal
The Hon’ble Minister of Finance,
Government of India,
North Block,
New Delhi

Subject: Suggestions and Submissions in upcoming New Direct Tax Law.

Dear Sir,

Best wishes,

With the intention of the Government to simplify the present Income–tax Act, by way of enacting new Direct Tax Law, the Institute of Cost Accountants of India has made an attempt to revisit the entire Direct Tax gamut of the Country as well as the best practices followed in other countries in the world both developed and developing countries and to frame a hassle free Direct Tax Law for the citizen of India thereby protecting the Interest of Revenue. With the opinion from our members and Resource Persons, working in the Industry & practice and taxpayers, the suggestions and submissions have been compiled and drafted in the context of upcoming New Direct Tax Law.

Further, we are enclosing herewith submissions on inclusion of “Cost Accountants” under the definition of “Accountant” u/s 288 (2) of Income Tax Act, 1961.

If considered necessary, please give us an opportunity to present before you the above in person at your convenient date and time. We are eagerly looking forward to your confirmation for a suitable date.

Thanking you.

Yours Sincerely,

CMA Sanjay Gupta.

Enclosed – As above

Copy to:

1. Hon’ble Minister of State, Ministry of Finance, Government of India, North Block, New Delhi

2. Secretary-Expenditure & Finance Secretary, MoF, Government of India

3. Secretary, Department of Revenue, MoF, Government of India

4. Chairman, Central Board of Direct Taxes, Department of Revenue, MoF

5. Chairman, Task force for enacting new Direct Tax Law.

Download Full Text of Suggestions


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