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Shri. S.S.N. Moorthy, Chairman, Central Board of Direct Taxes was invited for a special address to the Council on 17th April, 2009. The President CA. Uttam Prakash Agrawal welcomed him and thanked him for holding a cricket match between the teams of the Department and the ICAI. The President emphasising the need for better co-operation, extended invitation to the nominees of Central Board of Direct Taxes on the Direct Taxes Committee and Committee on International Taxation.
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Shri. S.S.N. Moorthy, appreciated the ICAI’s role as a regulator of accounting & auditing profession and its endeavour to uplift the quality of education and profession. He appreciated the efforts of ICAI as an Institution of prominence in the global arena to promote the Corporate Governance & professional excellence. He said that the Income-tax Department was placing great reliance on the various reports and certificates given by the Chartered Accountants under the Income-tax Act.
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CA. Manoj Fadnis, Member Central Council and Vice-Chairman Direct Taxes Committee, apprised regarding the need of e-filing the tax audit report and also the practical difficulties regarding section 145A of the Act. CA. Mahesh P. Sarda, Member, Central Council and Chairman of Committee on International Taxation also apprised of the procedural problems and emphasized the need for quality of assessments. The other Council members also actively participated in the discussion. The Chairman, Central Board of Direct Taxes assured the Council to look into the various issues.
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The Vice-President CA. Amarjit Chopra extended a vote of thanks with an assurance that the accounting profession will always rise to the expectation of the Government and society.
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