Brics and straws

Brics and straws

Brics Bank has its own limitations, and let us hope it will...
Much ado about execution

Much ado about execution

Effective delivery must be brought to the centre of policy-making...

ICAI flags concerns over DTC’s definition of ‘accountant’

Apr 20 2014, 23:37 IST
Comments 0
SummaryICAI, the apex grouping of chartered accountants, has contended that expanding the definition would result in individuals with "limited knowledge" issuing requisite certificates.

Raising serious concerns over the proposal to widen the definition of 'accountant' in the Direct Taxes Code, ICAI has told finance ministry that the proposed change could result in huge revenue leakages for exchequer.

ICAI, the apex grouping of chartered accountants, has contended that expanding the definition would result in individuals with "limited knowledge" issuing requisite certificates.

Such a scenario would lead to huge revenue leakages, the body said during a recent meeting with senior finance ministry officials.

Representatives from the Institute of Chartered Accountants of India (ICAI) met revenue secretary Rajiv Takru last week and said that the proposed change is a cause of major concern to the entire profession, the institute said.

Ads by Google

More from Economy

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...