From The President

My Dear BCAS Family,

The notification of Income Tax Act, 2025 following the assent by the Hon’ble President of India on 21^st August, 2025 marks a watershed moment in the legislative history of the country in general and specifically for professionals like us. The Act will apply from 1st April, 2026 and will replace the more than 60 year old Income Tax Act,1961. Also, at the time of writing, the first of the many compliance deadlines related to the filing of the individual tax returns within the extended timelines of 16^th September, 2025 has ended but there are still a series of never ending deadlines primarily on tax, audit and charity commissioner related matters over the next couple of months which will result in continuous compliance obligations for the concerned professionals. Finally, if that were not enough, the regular slew of filing deadlines on a periodical basis all year round makes us compliance mechanics or robots! This has tempted me to share my thoughts on the theme of compliance and its changing dynamics and its role for professionals and institutions like us.

The word compliance evokes thoughts about statutes, rules, deadlines, filings, and inspections. Whilst prima facie it appears as a “checklist-driven” obligation and an unavoidable cost of doing business in a regula