ICAI submits suggestions to Lok Sabha selection committee on I-T Bill

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Chartered accountants' apex body ICAI on Thursday submitted its suggestions to the Lok Sabha Select Committee examining the new Income Tax Bill, including seeking lesser number of sections and simplifying the language in the proposed legislation.

The Institute of Chartered Accountants of India (ICAI) has suggested reducing the number of sections in the proposed bill by 90 to 100, its President Charanjot Singh Nanda said.

Besides, the institute has made suggestions on ways to reduce litigations and simplify the language of the bill further, he added.

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Category: BusinessFinance

Markets: India

Topics: ICAI suggestions Lok Sabha Tax reform suggestions Income Tax Bill Tax bill sections Nirmala Sitharaman Tax legislation Reducing litigations ICAI Simplified tax bill Select committee

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Article Type: News Report

Published On: 2025-03-06 @ 18:04:01 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 26695975

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