Include Company Secretaries In Definition of ‘Accountant’ Under Income Tax Bill, 2025: ICSI

Previously, on July 21, 2025, the Select Committee submitted its report on the Income Tax Bill 2025 in the Lok Sabha, suggesting 285 amendments to the past bill to make it shorter and simpler. To review the amended Income Tax Bill 2025, the Lok Sabha Speaker, Om Birla, appoints a Select Committee of the Lok Sabha, including a total of 31 members. The committee is headed by BJP leader Baijayant Panda. The Income Tax Bill 2025 was introduced in the lower house of the parliament, Lok Sabha, on February 13, 2025. In the report, the Select Committee stated the definition of ‘Accountant’ in the Income Tax Bill 2025.

The Institute of Company Secretaries of India (ICSI) is a top professional body formed under the Company Secretaries Act, 1980. It works under the Ministry of Corporate Affairs, Government of India. ICSI focuses on providing high-quality education and training to future Company Secretaries and maintaining high standards for its members. It currently has over 77,000 members and around 2.5 lakh students.

The Institute of Company Secretaries of India (ICSI) is committed to helping its members grow professionally. As part of this objective, ICSI has been pushing for the inclusion of Company Secretaries in the definition of “Accountant” under the Income-Tax Bill, 2025. The ICSI has also conducted several meetings with the members of parliament, officials, and members of the Select Committee, explaining the vital role of Company Secretaries in making tax practices more transparent and accountable. They also shared how Company Secretaries are skilled in accounting and financial reporting. However, when this report was submitted in the Lower House of Parliament, i.e., Lok Sabha, the parliament excluded Company Secretaries from the definition of “Accountant”. For this exclusion, parliament gave the reason that the amendments in the New Income Tax Bill 2025 are aimed towards making the bill simplified as per the present laws, and the request of ICSI was noted as a policy change and currently lies outside the objectives and scope of the Bill.

The ICSI said, “To cater to this need of a large pool of qualified professionals who can ensure compliance with tax regulations, it is imperative that Company Secretaries be included in the definition of ‘Accountant’ in the Income Tax Bill 2025. Their expertise and competency in both Direct and Indirect Tax laws make them valuable in the taxation landscape and will ensure the availability of a larger pool of qualified professionals for timely compliance.”

ICSI recommended that the government take a broader look at the taxation system and make it more inclusive and future-ready, to achieve the goal of a developed India. Further, ICSI will continue to advocate for the recognition of Company Secretaries as Accountants and work to ensure that their roles are included in future policymaking. ICSI remains committed to engaging with decision-makers and creating an environment where the skills and contributions of Company Secretaries are fully valued, for the advantage of the corporate sector and overall governance in India.