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