Chairman's Communique August - 2014

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Chairman's Communique . . .


Dear Professional Colleagues,

The economy of India is the tenth largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. On a per-capita-income basis, India ranked 141st by nominal GDP and 130th by GDP (PPP) in 2012, according to the IMF. India is the 19th-largest exporter and the 10th-largest importer in the world. The economy slowed to around 5.0% for the 2012–13 fiscal year compared with 6.2% in the previous fiscal. According to Moody's, the Economic Growth Rate of India would be 5.5% in 2014-15. We the Chartered Accountants, as the partners in nation building, must contribute to the development of the nation, and one such platform is the website initiated by our Hon'ble Prime Minister Sri. Narendra Modi, where the public is allowed to give suggestions to the Government. We must participate in large numbers by giving innovative suggestions to Government.

India, our great nation's Independence Day greetings!

On behalf of Bangalore Branch of SIRC of the ICAI, I extend a warm welcome to all of you for the auspicious  event on Friday, 15th August at the Branch, to hoist our national flag and the following Independence Day celebrations of our Incredible India.

The month to remember: July 2014

In addition to the regular study circle meetings, CAs' Day was being celebrated on 01st July 2014. As a Corporate Social Responsibility, on this auspicious occasion, we have distributed scholarship to more than 50 deserving CA students and rendered a helping hand to educate the students hailing from the lower strata of society by distributing school uniforms and shoes.

As a regular feature of the Branch, Union Budget Analysis – a public awareness programme, with the able leadership of the two stalwart moderators CA. T. V. Mohandas Pai and CA. H. Padamchand Khincha was conducted and was a resounding success.

Convocation Ceremony for nearly 1,100 Chartered Accountants was conducted in the august presence of our beloved President, CA. K. Raghu, Vice President- ICAI, Chairman-BOS, Chairman - SIRC, eminent regional & central council members, enhancing the level of confidence of those newly qualified CAs, enabling them to be a proud member of our prestigious institute.

I am happy to inform you that a programme on Clause by Clause Discussion on Finance Bill 2014 conducted on 18th July, was also a grand success making us aware of the recent amendments in direct and indirect tax areas of practice.

Important programmes for the month ahead: August 2014

Investor Awareness Programme: on 01st August 2014 was very well received and the presentation of papers made by the eloquent speakers were commendable.

Seminar on Professional Opportunities and recent development in Co-operative sector and changing paradigm of NPOs organised by the committee for Co-operatives and NPO Sectors, ICAI under the efficient leadership of the said committee Chairman CA. Rajkumar S. Adukia was an informative programme enhancing the knowledge of our members in the field of Co-operative Sector and NPOs.

Seminar on Tax Audit will be conducted on 09th August 2014. The eminent speakers will throw light on the various amendments to be kept in mind while conducting tax audit. Members are requested to participate in this programme which is beneficial to all the Chartered Accountants involved in Tax Audit.

An Interactive Session with Commissioner CPC (Income Tax) with a session on Issues on TDS is being organised at the Branch on 13th August.

Two day National Conference on Indirect Taxes is being organised by IDT Committee, ICAI on 22nd and 23rd August 2014. Expert and experienced faculty members are being invited to present the papers. Request the members to participate in this event and derive maximum benefit out of the same. September month being a very busy month for members, only study circle meetings are being organised.

I sincerely request all the members to participate in the programmes and make each one of them a grand success paving way for the improvement in quality of our profession.

With warm regards,

CA. Babu K Thevar