ICAI seeks measures to mitigate litigation, prevent tax avoidance in pre-Budget suggestions

New Delhi, Nov 3, 2025

Seeking prudent tax reforms for facilitating the ease of doing business, chartered accountants' apex body ICAI on Monday suggested various measures in the Union Budget 2026-27 to mitigate litigation, reduce compliance burden and prevent tax avoidance.

The ICAI has proposed exclusion of F&O trading and speculation business from the scope of presumptive income, introduction of optional joint taxation of married couples and requirements for audit of accounts in all provisions providing for profit-linked tax deductions and mandatory return filing by persons owning more than specified acres of agricultural land.

In its pre-Budget suggestions, the Institute of Chartered Accountants of India (ICAI) has also suggested introduction of year-wise E-Ledger system for crediting TDS (Tax Deduction at Source)/ TCS (Tax Collection at Source) and advance tax payments which can be adjusted against the income-tax due,

[Press Trust of India]