The Institute of Company Secretaries of India (ICSI) has reiterated its demand for the recognition of its members as 'accountants' under Indian tax laws and called on the government to initiate a comprehensive overhaul of the country's taxation framework. The renewed plea comes after the Parliamentary Select Committee on the Income Tax Bill, 2025, declined to accept ICSI's proposal to include company secretaries within the definition of "accountant."
Set up under an Act of Parliament, ICSI continues to advocate for expanded professional roles and policy recognition for company secretaries, particularly in the area of tax compliance, governance, and corporate advisory.
Select Committee Response
In its report submitted to the Lok Sabha on July 21, the Select Committee stated that the definition of 'accountant' in the Income Tax Bill, 2025, was designed with a focus on simplification of existing tax laws. It noted that ICSI's request involved a policy-level change, which lies outside the immediate scope and objectives of the current legislation.
Also Read: Lok Sabha Select Committee Submits Key Recommendations on Income Tax Bill, 2025
ICSI's Stand
In an official statement, ICSI said:
"We will continue to advocate for the inclusion of the company secretary profession within the definition of 'accountant' and ensure that the roles and opportunities for company secretaries are effectively incorporated into policy-making processes."
The body stressed that recognising the strategic contributions of company secretaries is essential to India's vision of 'Viksit Bharat' (Developed India) and urged the government to review taxation laws through a holistic and inclusive lens.
Background
- Income Tax Bill, 2025 was introduced in Parliament on February 13, 2025, aiming to simplify provisions of the existing Income-tax Act, 1961.
- The bill was subsequently referred to a Parliamentary Committee for review, which finalized and submitted its report in July.
- Currently, the definition of "accountant" in tax law excludes company secretaries, which limits their professional scope in tax-related certifications and representations.
Way Forward
ICSI's continued push highlights growing demand for multidisciplinary participation in India's tax and regulatory ecosystem, and echoes the need for reform that accommodates emerging corporate governance roles.
As the government prepares for the rollout of the new income tax regime, the debate over who qualifies as an "accountant" may remain a contentious and evolving issue in the larger framework of legal and tax reforms.
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