ICAI Submits Pre Budget Memorandum 2020 on Direct Taxes/ International Taxation

ICAI has submitted Pre Budget Memorandum 2020 on Direct Taxes (including International Taxation) containing 164 suggestions for Ministry of Finance, Govt. of India, for consideration in formulating the tax proposals of Budget 2020 for the financial year 2020-21.

ICAI suggestions basically revolve around improving tax administration/ collection/ compliances, reducing litigation, rationalization of the provisions of various tax laws, removal of procedural/ administrative difficulties, certain new initiatives, check tax avoidance, etc.

In the Pre Budget Memorandum 2020, the ICAI’s suggestions on Direct Taxes (including International Taxation) can be broadly categorized under the following heads:

i) Part A : Suggestions relating to the policy & provisions of Income-tax Act, 1961;

ii) Part B : Suggestions for improving Tax Administration and Citizen Services; and

iii) Part C : Suggestions pertaining to International Taxation.

ICAI’s Pre Budget Memorandum 2020 on Direct Taxes/ International Taxes dt. 6 Dec. 2019

ICAI’s Pre Budget Memorandum 2019 on Direct Taxes/ International Taxes dt. 13 June 2019 

ICAI’s Pre Budget 2018 Memorandum on Direct Taxes/ International Tax dt. 11 Dec. 2017 

ICAI’s Pre Budget 2018 Memorandum on Indirect Taxes dt. 11 Dec. 2017

ICAI Invites Suggestions for Pre Budget Memorandum 2020

ICAI had invited suggestions from stakeholders9, on issues/ concerns relating to Direct Taxes (including International Taxation) and Indirect Taxes (including GST, etc.) for consideration of Govt. by way of Pre Budget Memorandum 2020.

ICAI Announcement dt. 15 Oct. 2019

ICAI Invites Suggestions for Pre-Budget Memorandum-2020 

he Direct Taxes Committee, GST & Indirect Taxes Committee and Committee on International Taxation of ICAI are in the process of identifying issues for inclusion in the Pre-Budget Memoranda – 2020 to be submitted to the Ministry of Finance or respective State Ministry. Suggestions under the following heads are invited on laws relating to Direct Taxes (including International Taxation) and Indirect Taxes:

Suggestions for Pre-Budget Memorandum
Direct Taxes (including International taxation):
– Suggestions for widening the tax base and increasing the tax revenue
– Suggestions to check tax avoidance
– Suggestions to reduce/minimize litigations
– Suggestions for rationalization of the provisions of Direct Tax Laws
– Suggestions for removing administrative and procedural difficulties
Indirect Taxes:
– Goods & Services Tax
– Customs Law
– Central Excise Law (to the extent applicable on specific goods)
– The suggestions for widening the tax base, increasing the tax revenue, check tax avoidance and to reduce/minimize litigations may also be provided.

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ICAI Submits Post Budget Memorandum (2019) on Direct Taxes

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