ICSI Vows to Continue Fight for Recognition of Company Secretaries in Accountant Definition under New Income Tax Bill
ICSI pledges to keep fighting for the recognition of Company Secretaries as Accountants under the new Income Tax Bill, 2025
The Institute of Company Secretaries of India (ICSI) has announced that it will continue to push for the inclusion of Company Secretaries (CS) in the definition of "Accountant" under the proposed Income Tax Bill, 2025. In a recent press release, ICSI expressed disappointment that the Select Committee of Parliament did not include Company Secretaries in the definition...
The Institute of Company Secretaries of India (ICSI) has announced that it will continue to push for the inclusion of Company Secretaries (CS) in the definition of "Accountant" under the proposed Income Tax Bill, 2025.
In a recent press release, ICSI expressed disappointment that the Select Committee of Parliament did not include Company Secretaries in the definition of “Accountant” in its latest report.
The Committee stated that the new bill is focused on simplifying the current tax laws and that such a request from ICSI would require a broader policy change, which is beyond the scope of the bill.
Despite this setback, ICSI remains committed to advocating for the recognition of CS professionals. The Institute highlighted that Company Secretaries have the required knowledge and skills in accounting, tax compliance, and financial reporting.
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ICSI believes that including CS professionals in the legal definition of “Accountant” would strengthen transparency, accountability, and good governance in India’s tax system.
ICSI stated that it had engaged with several Members of Parliament and government officials to present its case. It believes that recognizing the role of Company Secretaries is essential for India’s goal of becoming a developed nation under the vision of "Viksit Bharat."
The Institute called for a comprehensive review of the country’s taxation laws and said that future reforms must be inclusive and forward-thinking. It also said it will continue high-level discussions with policymakers and strive to ensure that the role of CS professionals is fully acknowledged in future legislation.
About ICSI
With more than 77,000 members and over 250,000 students, ICSI plays a key role in regulating and promoting the profession of Company Secretaries in India. It operates under the Ministry of Corporate Affairs and works to set high standards for education, ethics, and professional practice.
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