« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  Tax benefits on office space rentals sought... Mumbai institute to offer CA, IAS, CAT courses via satellite... » IFCAI prepares `Vision Document 2021` November, 12th 2007 Unprecedented growth and a host of changes in the profession of chartered accountants (CA) has compelled the Institute of Chartered Accountants of India (ICAI) to revisit their vision document, 2011 and prepare Vision Document 2021.   The Institute first prepared the vision document in 2001 for 2011. But as Sunil Talati, president, ICAI, puts it, unexpected growth in the profession has made ICAI ponder upon the changing interest of the stakeholders and growing expectations of the government and the society at large.   Since 2001, nature of this profession has somersaulted. In 2001, as many as 60 per cent of the students passing the CA examination, were opting for practice and very few opted for employment in other companies. But since the last two years there is a complete reversal of trend. Around 85 per cent of these students are opting for employment in various companies, Talati said.   Though ICAI does not see this as a problem, it feels that more needs to be done to take care of the needs of those in employment, as well as those in practice.   We are welcoming the change as it is not impacting the strength of our membership. Both members, in practice as well as employment, are doing well for themselves. By and large, we are encouraging the membership of the institute. If a CA has got a job and discontinues membership, certain disciplinary actions are taken against him. For instance, he is disallowed to use CA before his name and so on," Talati added.   He further added, that till 2004, the annual intake of students was 2,00,000 which has now, within three years, has gone up to 4,00,000.   According to him, given the scheme of things and pace at which the profession is growing, the new vision document will focus primarily on the growth of both professionals in practice and in employment.   The previous document focused on the mandate of the institute, its role in building up the profession and developing it. The revised document would lay emphasis on the growing importance of India in the International Federation of Accountants (IFAC) and International Auditing and Assurance Standards Board (IAASB), and internal issues like managing the human resource (HR) policies of ICAI.   The document being prepared by the vision committee of ICAI will take about four months to take final shape. The revised vision document, all in all, would state what ICAI would be 15 years from now,Talati added.