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PETITION TO THE PARLIAMENT FOR INCLUSION OF "COST ACCOUNTANT" IN THE DEFINITION OF "ACCOUNTANT" IN THE NEW INCOME TAX BILL-2025
| Name | Category | City/State | Comment | Date |
|---|---|---|---|---|
| Shahid | Others | Maharashtra | Include cma | 25-02-2025 |
| Chandrima Banerjee | Member | Kolkata | The definition of cost and works accountant is in anamoly with the definition of accountants in Income tax Act | 25-02-2025 |
| Adiba Ali | Kolkata | 25-02-2025 | ||
| AMIYA MAITI | Student | Kolkata | 25-02-2025 | |
| Sandeep Kumar Nayak | Student | Bhubaneswar | 25-02-2025 | |
| ACMA BHASKAR SADHUKHAN | Member | KOLKATA | I am an associate member of the Institute and I want CMAs to be added in the definition of Accountants in New Income Tax Act 2025. | 25-02-2025 |
| LEENA SANDIP MURKUTE | Member | MUMBAI | In India CMAs are equally recognised with chartered accountants, as having equal expertise in auditing, tax planning, financial management, corporate and other statutory governance. Many countries unlike India, recognise multiple professional bodies for the taxation work. To restrict monopolistic practices in taxation area, inclusion of CMAs as Accountants in Income tax bill is need of time. It will be helpful to the government to enhance financial governance, reduce tax evasion, control financial scams and contribute to India's goal of becoming a developed economy by year 2047. Relying solely on CAs may create bottlenecks during peak tax seasons, delaying tax filings increasing administrative burdens and lesser tax collection | 25-02-2025 |
| Gauri Rasal | Student | Yeola | SUPPORT | 25-02-2025 |
| Anurag Sahani | Student | Puri | 25-02-2025 | |
| Sanjib Dad | Member | West Bengal | Monopoly in audit profession requires to break to create a favourable business environment for the country’s growth at this present juncture especially. Forcing the Return filers including Auditee companies to one checkpoint while others are equally permissible and available is not appreciable for the Assessee’s point of view particularly. | 25-02-2025 |
| Gagan bihari padhan | Member | Odisha | CMA should be included in New incometax Act 2025 | 25-02-2025 |
| Shruti Santosh Bapte | Student | Dhayari | 25-02-2025 | |
| Yuvraj Singh | Student | Allahabad | CMA should be included in the definition of Accountant under Income tax | 25-02-2025 |
| shilpi gupta | Student | Bhawanipur Rajdham | 25-02-2025 | |
| Sheetal Niwate | Student | Mumbai | 25-02-2025 | |
| Deepak | Student | Chennai | The inclusion of CMA in tax audits is essential, and I fully support my colleagues in this matter. | 25-02-2025 |
| Hari Narayan Eai | Member | Ahmedabad Gujarat | We are also qualified cost accountant and gave passed exams like CA. This is not justified to non inclusions of accountant word in new act. | 25-02-2025 |
| Alok kumar | Member | Ranchi/Jharkhand | It's our right to include | 25-02-2025 |
| Om Prasad | Student | Ulhasnagar | 25-02-2025 | |
| Pawan Kumar | Member | Kapurthala | I support inclusion of CMA in defination of Accountant in Income Tax Act 2025 | 25-02-2025 |
| Mallika Ghosh | Student | Jorhat | CMA = CA | 25-02-2025 |
| Sridhar Kannan | COIMBATORE | CMA students also study direct tax in inter and final and their have knowledge in income tax and Tax audit. We require Tax audit for CMA | 25-02-2025 | |
| PRAVUDATTA MISHRA | Member | BHUBANESWAR | CMA and CA both should considered at par | 25-02-2025 |
| Moyukh pathak | Student | Jorhat | Cma is equal to ca | 25-02-2025 |
| Arnab sarmah | Student | Jorhat | CMA is equal to CA | 25-02-2025 |
| Sujitha | Member | Hyderabad | 25-02-2025 | |
| Sandesh kafle | Member | Bangalore | The inclusion of Certified Management Accountants (CMAs) in tax audits has been a topic of discussion, particularly in contexts like India, where their role could complement existing practices. Here’s an exploration of why CMAs might be considered for inclusion in tax audits: CMAs possess specialized expertise in cost and management accounting, which equips them with a deep understanding of financial processes, cost control, and inventory valuation. These skills are highly relevant to tax audits, where accurate assessment of taxable income often hinges on properly valuing closing stock and determining the cost of goods sold—areas where CMAs excel due to their training in Cost Accounting Standards and costing techniques. Their ability to analyze and verify these components could enhance the precision of tax audit reports, ensuring businesses report their income correctly and reducing opportunities for tax evasion. Additionally, CMAs already conduct taxation audits in areas like Excise Duty, Service Tax, and VAT in various jurisdictions, demonstrating their capability in tax-related compliance. Their practical experience in these fields, combined with their presence in managerial roles across multinational corporations and public sector units (e.g., as Managers of Taxation or Accounts), suggests they have the requisite knowledge and efficiency to handle income tax audits as well. This experience could bring a fresh perspective to tax audits, focusing on operational and financial intricacies that impact tax liability. Another argument is the potential to break the monopoly of a single profession, fostering greater voluntary tax compliance. Historically, tax audits have been the domain of Chartered Accountants (CAs), but expanding this to include CMAs could increase the pool of qualified professionals, making audit services more accessible and encouraging businesses to comply with tax laws proactively. This aligns with proposals in frameworks like India’s Direct Tax Code, which suggested broadening the definition of "Accountant" to include CMAs, recognizing their potential contribution. Moreover, CMAs’ focus on strategic decision-making and internal controls could improve the overall quality of tax audits. They are trained to look beyond historical data, analyzing the “why” behind financial numbers, which could help identify discrepancies or manipulations in financial statements that affect tax calculations. This forward-looking approach complements the compliance-oriented focus of traditional tax audits, potentially leading to more robust tax administration. However, critics might argue that CMAs lack training in certain Accounting Standards or auditing standards specific to financial audits, which are critical for tax audits under laws like India’s Income Tax Act. Yet, their existing competencies in related taxation areas and their ability to adapt through additional training could address such gaps, making their inclusion feasible with proper regulatory adjustments. In summary, including CMAs in tax audits could leverage their expertise in cost management and taxation, enhance audit accuracy, increase professional capacity, and promote better tax compliance. While their role would need to be clearly defined to complement rather than compete with existing professionals, their involvement could strengthen the tax audit ecosystem. | 25-02-2025 |
| Avisekh Ray | Others | Kolkata | 25-02-2025 | |
| Dr Vishal Pokharna | Member | Udaipur | CMA must be considered as accountants under IT | 25-02-2025 |
| Rohan Chamoli | Student | Delhi | Cost accountant should be included in defination of accountant | 25-02-2025 |
| Md Husnain Alam | Student | kolkata | CMA deserve acknowledgement and right to do tax audit. | 25-02-2025 |
| Vikas Jaiswal | Others | Delhi | To ensure a level playing field for all professionals and maximize benefits for stakeholders, Cost and Management Accountants (CMAs) should be explicitly included in the definition of "Accountant." This inclusion would broaden the pool of qualified professionals available to stakeholders, fostering greater choice and potentially more competitive service offerings. The CMA curriculum provides extensive and rigorous training in Direct Tax Law, a core subject in both intermediate and final examinations. These globally recognized, highly challenging examinations, with their characteristically low pass rates, underscore the depth of tax expertise CMAs possess. CMAs have consistently demonstrated their value when given opportunities, aligning their work with the long-term vision and objectives of governments and organizations. Therefore, including CMAs in the definition of "Accountant" within the new Income Tax Act is a critical and timely imperative. | 25-02-2025 |
| Sandip Dhasal | Student | Navi Mumbai | I support for Inclusion of CMA in New Income Tax Act-2025. | 25-02-2025 |
| Abhay Kumar Pathak | Member | New delhi | I am strongly supporting to include CMA's under definition of ACCOUNTANT. | 25-02-2025 |
| M k shukla | Member | KOLKATA | Yes | 24-02-2025 |
| M k shukla | Member | KOLKATA | 24-02-2025 | |
| Saif shah | Student | Mumbai | We need the recognition for CMA | 24-02-2025 |
| Hardik Chokshi | Member | Ahmedabad | .. | 24-02-2025 |
| Pranay Bhosale | Student | Maharashtra | I strongly support the petition to include "Cost Accountant" in the definition of "Accountant" in the New Income Tax Bill-2025. Cost Accountants play a vital role in financial management, cost control, and strategic decision-making, providing services essential to both corporate governance and the financial well-being of businesses. Excluding them from the definition of "Accountant" under the Income Tax Bill not only undermines their contributions but also restricts businesses from accessing specialized knowledge in areas such as cost management, pricing strategies, and tax planning. | 24-02-2025 |
| Kiran R | Student | Bangalore | Yes | 24-02-2025 |
| Dilbag Singh | Others | Hamirpur hp | 24-02-2025 | |
| Kasturi lal Khanna | Member | Chandigarh / UT. | 24-02-2025 | |
| Ganesh Khatale | Student | Nashik | Definitely cma is capable of tax audit because I am studying from CA classes for CMA tax subject same content | 24-02-2025 |
| MAHENDRANATH R | Member | Chennai Tamil Nadu | 24-02-2025 | |
| Harinarayana Vema | Member | ELURU | 24-02-2025 | |
| Divya pareek | Student | West Bengal | The cma should be included in the new income tax act.It should have same privilege the CA profession gets. Thank you. | 24-02-2025 |
| Sarat kumar Ray | Others | Odisha | Yes I support | 24-02-2025 |
| Archana Ray | Others | Odisha | Yes I support | 24-02-2025 |
| DIBYA JYOTI BOSE | Student | Cuttack | 24-02-2025 | |
| Rama chandra patra | Others | Odisha | I support | 24-02-2025 |