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November 19, 2020

ICAI Submits 245 pages Pre-Budget Memorandum -2021 on Direct and International Tax

by CA Shivam Jaiswal in ICAI

ICAI Submits 245 pages Pre-Budget Memorandum-2021 on Direct and International Tax

The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum – 2021 on Direct Taxes and International Tax to the Government. The memorandum contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2021-22.

1.2 The suggestions have been broadly categorized under the following heads:

  • Part A : Suggestions relating to the policy & provisions of Income-tax Act, 1961
  • Part B : Suggestions for improving Tax Administration and Citizen Services
  • Part C : Suggestions pertaining to International Taxation

1.3 The suggestions are given Chapter wise and are intended to serve the following purpose:

  • I. Improve tax collection.
  • II. Reduce/minimize litigations
  • III. Rationalization of the provisions of direct tax laws.
  • IV. Removal of administrative and procedural difficulties relating to Direct Taxes
  • V. Check tax avoidance

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