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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 |
|---|---|---|---|---|
| Pitambar Nag | Others | Balangir Odisha | I support it | 25-02-2025 |
| Ashish Maheshwari | Surat | I am qualified CMA doing well with my job, I am in support with the other members & Students who want to enroll their career in tax & tax audit field and also trained in the same field with their keen interest in same field. So I support and want to get inclusion of CMA's also for Tax Audit. | 25-02-2025 | |
| BIJAYLAXMI BEHERA | Member | Bhubaneswar | I support the cause. | 25-02-2025 |
| Utkarsh Gupta | Student | Unnao/Uttar Pradesh | If it's being taught in the curriculum then it's shouldn't be a question to ask! | 25-02-2025 |
| NITISH KUMAR SHARMA | Student | KOLKATA | As a CMA Final student, I strongly support the inclusion of Cost and Management Accountants (CMAs) in the New Income Tax Act-2025. CMAs play a crucial role in financial management, cost control, and taxation, contributing significantly to the country's economic framework. Recognizing CMAs in the new tax law will ensure a broader, more efficient tax compliance system while utilizing our expertise in direct and indirect taxation. I urge the authorities to consider this petition and provide CMAs with the recognition they rightfully deserve. | 25-02-2025 |
| Sayantan Das | Student | West Bengal | 25-02-2025 | |
| Mohan Gawade | Student | Mumbai | Include cost Accountant in defination of Accountant under proposed income tax bill 2025 | 25-02-2025 |
| Naman Maru | Student | Mumbai - Maharashtra | We respectfully petition to amend the definition of 'accountants' in the new DTC bill to include Cost and Management Accountants (CMAs) alongside Chartered Accountants (CAs). The syllabus and training requirements for CMAs are substantially similar to those of CAs, with a focus on financial management, accounting, and taxation. As a result, CMAs possess equivalent expertise and competencies, enabling them to provide similar services to CA's. | 25-02-2025 |
| GUTTIKONDA MAHABOOB SUBHANI | Member | Hyderabad | WE CMA S HAVE REQUISITE TRAINING AND EXPOSURE TO BE CONSIDERED AS ACCOUNTANT UNDER INCOME TAX | 25-02-2025 |
| Phani kiran | Others | Delhi | 25-02-2025 | |
| Shaikh Rozi | Student | Maharashtra | I support | 25-02-2025 |
| Ratheesh Kumar | Member | Ernakulam | Cost and Management Accountants also possess the same quality in academics and professional expertise to be included as Accountants | 25-02-2025 |
| Balaji Sunkara | Others | Pune | I am a central govt employee and I strongly support this petition | 25-02-2025 |
| Ritesh Singh | Others | Maharashtra | Tax audit to be given to all profession CA monopoly is harming our nation | 25-02-2025 |
| M Satish | Others | Visakhapatnam | I support the cause!! CA's should not have monopoly on tax audits | 25-02-2025 |
| Gopal | Member | Morni | It must be in the same way as it required. | 25-02-2025 |
| Alex.R | Others | Tamilnadu | 25-02-2025 | |
| Anil Kumar Goyal | Member | Guwahati | 25-02-2025 | |
| Rimpi Murpana | Student | Mumbai - Maharashtra | Support | 25-02-2025 |
| Vedika Sethi | Student | Guwahati | 25-02-2025 | |
| Arun Mehra | Member | Gurgaon | It is fair that CMAs get their due! | 25-02-2025 |
| 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 |