ICAI seeks tax benefits to promote climate change mitigation strategies

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ICAI seeks tax benefits to promote climate change mitigation strategies - Business Standard

Quick Summary:

Chartered accountants' apex body ICAI has sought tax benefits for promoting climate change mitigation strategies and a separate section for income from shares and securities in the income tax returns form.

"Provision of tax benefits for promoting climate change mitigation strategies, which will not only contribute to India's climate change goals but also drive economic growth by promoting sustainable business practices is a suggestion in this direction," it said in a release.

Besides, the Institute of Chartered Accountants of India (ICAI) has sought a special tax regime for partnership firms and limited liability partnerships (LLPs) as well as simplification of income tax return forms.