Member of Parliament G. Kumar Naik has expressed concern over the Central Government's proposed amendments to the Income Tax Act, stating that the changes could adversely affect the professional services rendered by Chartered Accountants across the country.
Speaking at a joint discussion organized by the District Commerce and Industries Association and the Chartered Accountants Association in Yadgir, Naik emphasized the need for broader consultations before implementing major legislative changes that impact professionals and taxpayers.
"Amendments Need Wider Expert Input," Says MP
"The Central Government should have held extensive discussions with tax professionals and industry experts before finalizing these amendments," said Naik. He further assured the audience that if Chartered Accountants present a comprehensive report outlining the challenges they foresee, he would raise the matter in the Lok Sabha during upcoming sessions.
CAs Voice Concerns Over Digital Burden
Several Chartered Accountants who participated in the discussion voiced worries about the increasing reliance on digital compliance tools and technologies being proposed in the new amendment. Many believe that the intensified digital reporting requirements could blur the line between professional obligations and personal life, leading to increased stress and reduced work-life balance.
One participant stated, "While we welcome modernization, the government must ensure that digital transformation does not come at the cost of human limitations. Chartered Accountants are already working under immense pressure."
Call for Balanced Reform
The event highlighted a growing concern within the CA community that while digitization and simplification are necessary, reforms should be implemented in a balanced and consultative manner. The gathering concluded with a call for the government to re-evaluate the proposed amendments with meaningful stakeholder engagement.
The proposed Income Tax Bill, 2025 is currently under public and parliamentary scrutiny, and more reactions are expected from professional bodies and state associations in the coming weeks.
CAclubindia
