Income Tax Bill 2025: ICMAI Calls for Inclusion of CMAs in Accountant Definition

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The new Income Tax Bill 2025, tabled on February 13, 2025, has sparked controversy by excluding Cost Accountants (CMAs) from the definition of ‘Accountant’ for tax audits. ICMAI has been advocating for the inclusion of CMAs in the definition of ‘Accountant’ for over five years. the new bill retains the definition from the 1961 Act.



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