Hyderabad: The Institute of Cost Accountants of India (ICAI) welcoming the Income Tax Bill 2025, said that it was a significant milestone in simplifying India’s six-decade-old direct taxation structure.

It said that the Bill aims to streamline provisions, eliminate outdated references, and establish a more concise and transparent legal framework to reduce litigation and enhance voluntary compliance. This reflects the government’s commitment to implementing fundamental structural changes that will improve the ease of doing business.

Dr Lavanya Kanduri, Chairperson of the ICMAI-Hyderabad Chapter, stated, “We welcome the Income Tax Bill 2025. This progressive step truly reflects the government’s unwavering support in introducing essential structural changes that significantly contribute to bettering the ease of doing business and fostering a more taxpayer-friendly ecosystem.”

Accordingly, the professional body submitted a comprehensive memorandum to the Lok Sabha, urging the inclusion of “Cost Accountant” in the definition under Section 515(3)(b) of the Income Tax Bill, as “we have been recognised as Internal Auditors under the Companies Act, 2013.”