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Apex bodies of company secretaries and cost accountants have urged the government to include these professionals under the definition of 'accountant' in the Income Tax Bill, 2025. The Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants of India (ICMAI), both set up under Acts of Parliament, have demanded that their members be treated as accountant in the bill. They come under the corporate affairs ministry. ICSI has around 75,000 members while ICMAI has about 1 lakh members. In a release on Monday, ICSI said that company secretaries should be included in the definition of 'accountant' as outlined in Section 515(3)(b) of the bill. "The omission is seen as a missed opportunity in recognising company secretary's vital role in the financial and compliance landscape of the country," the release said. According to the institute, it remains committed to advocating for the recognition of company secretaries as integral professionals in the taxation syste
Company secretaries' apex body ICSI has come out with a framework to promote sustainable and responsible investment practices that seek to help institutional investors and service providers. The ICSI Guiding Principles on Stewardship (IGPS) is a framework of ethical stewardship practices to empower institutional investors and service providers, it said in a release. The framework outlines best practices for responsible investment, encompassing environmental, social, and governance factors. It aligns with the global trend and offers much needed guidance towards sustainable and responsible investing, the Institute of Company Secretaries of India (ICSI) said in the release. The framework was launched at the institute's Middle East Conference in Abu Dhabi, UAE on Wednesday.
The Institute of Chartered Accountants of India (ICAI) will conduct examinations for foundation and intermediate courses three times in a year. Till now, the institute has been conducting these examinations twice a year. "The intermediate and foundation course examinations will be conducted thrice in a year in the month of January, May/June and September," ICAI said in a release on Friday. The decision was taken at ICAI's council meeting on March 7. ICAI has more than 4 lakh members and 8.5 lakh students.
Finance Minister Nirmala Sitharaman on Wednesday urged company secretaries to rededicate themselves for better corporate governance, as India gears to become a developed nation by 2047. Addressing the 55th Foundation Day of the Institute of Company Secretaries of India (ICSI), the finance minister said it is time to "rededicate ourselves for and towards better corporate governance... we cannot see our value systems being diluted... corporate governance is an issue on which all of us are committed." Praising ICSI, she said, the high standard set by the institute is well recognised across the world. She appreciated the decision of the ICSI to waive off registration fee for Agniveer, defence personnel and families of martyrs for enrollment in company secretaries course. The other decision, to donate Rs 11 lakh for the education of daughters of martyrs, is also praiseworthy, she noted. The Finance Minister said the government has taken significant steps to promote ease of doing busine