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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 |
|---|---|---|---|---|
| Sourabh yadav | Student | Lucknow, uttar pradesh | 25-02-2025 | |
| Soham Tariyal | Student | Delhi | Subject: Petition to Include ICMA in the Definition of Accountants To: The Honorable Members of Parliament Respected Members, I am writing to bring to your esteemed attention a crucial matter that requires immediate consideration and action. The definition of "accountants" within our legislative framework currently excludes members of the Institute of Cost and Management Accountants (ICMA). This omission does not reflect the significant role that ICMA professionals play in our economy and business landscape. Justification for Inclusion: 1. Comprehensive Expertise: ICMA professionals possess extensive knowledge and expertise in cost management, financial planning, and strategic decision-making. Their contributions are integral to the financial health and operational efficiency of businesses across various sectors. 2. Regulatory Compliance: ICMA members are bound by stringent professional standards and ethical guidelines. Including them in the definition of accountants will enhance regulatory compliance and ensure that businesses benefit from their specialized skills. 3. Global Standards: Many countries around the world recognize and include cost and management accountants within their legal definitions of accountants. Aligning our legislation with global standards will strengthen our position in the international business community. 4. Economic Contribution ICMA professionals play a pivotal role in cost control, efficiency improvement, and profitability enhancement for businesses. Their inclusion will contribute significantly to the overall economic growth and stability of the nation. 5. Professional Recognition: Recognizing ICMA members as accountants will provide them with the professional respect and recognition they deserve. It will also encourage more individuals to pursue this important field, thereby increasing the pool of skilled professionals available to our economy. In light of these points, I humbly request that the definition of "accountants" be revised to explicitly include members of the Institute of Cost and Management Accountants. This inclusion will ensure that our legislative framework accurately reflects the diverse and essential roles played by all accounting professionals in our country. Thank you for considering this petition. I look forward to a positive response and remain available for any further discussions or clarifications. Yours sincerely, | 25-02-2025 |
| Sumanyu Bindal | Student | Meerut | Please Include Cost and manegement account (CMA) in the defination of accountant in income tax act . In companies Act it's already included. Please consider CMA qualification as they are equally competent to conduct income tax audit | 25-02-2025 |
| SACHIN SINGHAL | Member | HARIDWAR | 25-02-2025 | |
| Nuhla CM | Student | Kerala | CMA's should be included in New Income Tax Act -2025 | 25-02-2025 |
| Abhisek Banerjee | Student | Dhanbad | CMA's are the hidden diamonds of the financial industries | 25-02-2025 |
| Aravind Alister | Tamilnadu | 25-02-2025 | ||
| Shreyansh Borkar | Student | Ahiwara (Bhilai)/Chhattisgarh | 25-02-2025 | |
| Narasimha Rao Areti | Member | Hyderabad | CMAs are well equipped with the knowledge | 25-02-2025 |
| RAJEEV SINGH PATHANIA | Member | Faridabad | I strongly advocate for inclusion of CMA in new Income Tax Act 2025 | 25-02-2025 |
| Ameen Suhail | Student | Delhi | 25-02-2025 | |
| Umesh Kumar | Member | Kurukshetra/Haryana | 25-02-2025 | |
| Vijaya J | Others | Tamilnadu | 25-02-2025 | |
| CMA Sreedevi | Member | Hyderabad | 25-02-2025 | |
| Divya.P | Student | Chennai | 25-02-2025 | |
| DHRUV SANJAY GAJJAR | Student | Kalyan/ Maharashtra | We are capable to conduct tax audit | 25-02-2025 |
| kodam anil | Student | Telangana | 25-02-2025 | |
| Neha | Uttarakhand | 25-02-2025 | ||
| Satya Prakash verma | Sultanpur | 25-02-2025 | ||
| Prahallad Mohanty | Student | Odisha | We need tax audit | 25-02-2025 |
| Arpana Sutradhar | Student | Chennai | Income tax should include CMA's | 25-02-2025 |
| somanath panda | odisha | Cost Accountants should be included in the definition of Accountant and should be able to file TDS Returns and any returns pertaining to Income Tax | 25-02-2025 | |
| WILSON PAUL BADDE | Others | HYDERABAD | Looking at the broader picture, it’s apparent that Cost Accountants are highly qualified to handle taxation and tax audits. Their training in Income Tax Law, coupled with their experience in managing costs and ensuring compliance, positions them as equals to other accounting professionals. Therefore, it seems only fair and logical that Cost Accountants be included in the definition of Accountant within the Income Tax Bill - 2025. This would provide a clear reflection of modern accounting practices and ensure that the role of CMA professionals is duly recognized within the legal framework of taxation. | 25-02-2025 |
| SWATHI PENNAM | Others | ANDHRA PRADESH | Observing the practices of accounting professionals around the world, it is clear that the role of Cost Accountants has evolved to encompass not only cost management but also significant aspects of taxation and tax audits. Many countries recognize Cost Accountants as equals to other accounting professionals, particularly when it comes to handling complex tax matters. Therefore, it makes sense to align India's Income Tax Bill - 2025 with global standards by including CMA professionals under the definition of Accountants. This would not only ensure that their contribution to tax compliance is recognized but would also enhance India’s position as a progressive nation with a well-defined accounting and taxation framework. | 25-02-2025 |
| PRADEEP KATTA | Others | ANDHRA PRADESH | As someone who values the importance of clear professional recognition, I strongly support the inclusion of Cost Accountants (CMAs) in the definition of Accountant under the Income Tax Bill - 2025. Over the years, CMA professionals have demonstrated deep expertise in the areas of taxation, tax audits, and financial management. Their specialized knowledge in these areas qualifies them to carry out tasks that are integral to the financial health of an organization and the economy at large. By acknowledging them as Accountants, the law would more accurately reflect their skills and ensure that they are afforded the same recognition as other accounting professionals. | 25-02-2025 |
| SIVARAM CHAVA | Others | ANDHRA PRADESH | In my view, the definition of Accountant in the Income Tax Bill - 2025 should be inclusive of Cost Accountants, who possess specialized knowledge in taxation and tax audits. Including them will ensure that the profession is more comprehensive and that all qualified professionals are recognized accordingly. | 25-02-2025 |
| KARTHIK VARMA DATLA | Others | HYDERABAD | Having observed the increasing demand for professionals capable of managing complex tax and financial matters, I fully support the inclusion of Cost Accountants in the definition of Accountant under the Income Tax Bill - 2025. Their qualifications and contributions are indispensable in today’s tax system. | 25-02-2025 |
| VENKATA RAMARAJU KUCHARALAPATI | Others | ANDHRA PRADESH | As an observer of the accounting profession, it is evident that Cost Accountants are equipped with the same level of expertise in taxation as other accountants. Therefore, I strongly support the request for their inclusion in the definition of Accountant in the Income Tax Bill - 2025 | 25-02-2025 |
| SOMASEKHARAM BANDA | Others | ANDHRA PRADESH | As someone observing the development of India’s tax and financial systems, I feel that Cost Accountants have demonstrated sufficient expertise in taxation and should be formally included in the Income Tax Bill - 2025 as Accountants. This would ensure their full participation in the country's economic development | 25-02-2025 |
| DINESH DEVIREDDY | Others | HYDERABAD | From an outsider’s viewpoint, it is clear that Cost Accountants (CMAs) possess the necessary skills to handle taxation, tax audits, and financial reporting. I believe their inclusion in the legal definition of Accountant would enhance the overall functioning of the taxation system in India. | 25-02-2025 |
| HARIKA VENKATA LAKSHMI UDDARAJU | Others | ANDHRA PRADESH | As an individual who recognizes the importance of inclusive professional recognition, I firmly support the inclusion of Cost Accountants in the definition of Accountant under the Income Tax Bill - 2025. Their expertise in taxation and financial management deserves to be acknowledged alongside other accounting professionals. | 25-02-2025 |
| Abhinav Kumar | Member | Ranchi | CMA should also get tax audit. | 25-02-2025 |
| JITENDRIYA MOHANTY | Member | Bhubaneswar | We are so capable to handle Tax laws | 25-02-2025 |
| Dhivyaganapathy | Student | Tamilnadu | 25-02-2025 | |
| Narayan Raghunath Ghule | Member | Pune | 25-02-2025 | |
| Tushar | Student | Delhi | 25-02-2025 | |
| pranay kumar | Student | Odisha | 25-02-2025 | |
| Basudev Bisoi | Student | Cuttack | I support | 25-02-2025 |
| Dhivakar | Puducherry | We need the recognition for the CMA | 25-02-2025 | |
| Subrahmanya Hegde | Student | Bengaluru | The All India Cost & Management Accountants Association (AICMAA) is advocating for the inclusion of Cost Accountants in the definition of "Accountant" under Section 515(3)(b) of the Income Tax Bill 2025. | 25-02-2025 |
| Dishani Das Choudhury | Student | Shillong, Meghalaya | I support the cause | 25-02-2025 |
| Madhumitha | Villianur | We need the recognition for the CMA | 25-02-2025 | |
| Lohitha | Puducherry | We need the recognition for the CMA | 25-02-2025 | |
| Jayashree | Pondicherry | We need the recognition for CMA | 25-02-2025 | |
| Varun Patwa | Member | Delhi | CMA should be included in the definition of accountant | 25-02-2025 |
| J lalit patra | Student | Berhampur/odisha | Cma should included in the definition of accountant because their in-depth knowledge in income tax law, transfer pricing, corporate law make them well equipped to contribute direct tax compliance as well. | 25-02-2025 |
| NigarJahan | Student | Kolkata | Please include Cost accountant in the definition of accountant | 25-02-2025 |
| BATAKRISHNA MOHAPATRA | Member | Bhubaneswar | Cost Accountants should include in the definition of Accountant. In comparison with CAs, there's no any cause for excluding CMAs in tax audit,i feel it is only power of lobby of CAs & they influence to politician and the government to exclude CMAs for their monopoly market.Goverment should understand these thing. For easy doing business, professional person in practice level should be increase without monopoly. New business start-up also day to day increase which is good sign for future India,so it is very very necessary to include cost accountants for future growth of india. | 25-02-2025 |
| Akhil Goyal | Student | Chhattisgarh | Having the capability to do so. | 25-02-2025 |
| Indramani Meher | Others | Balangir Odisha | Support it | 25-02-2025 |