I hope that all of you had a wonderful audit season and are currently busy in filing tax returns along with looking into the long list of work which had taken back seat during September. October is also the month of festivities wherein the longest dance festival of Navratri is thoroughly enjoyed especially in the state of Gujarat. We have witnessed a huge rise in the amount of Raas-Garba being organized by societies and multiple agencies wherein the ticket prices have matched that of cricket world cup matches! The amount of money being spent on these events by the people in the city and the state is increasing every year. The driving reason is the large and fast growing middle class which is helping in the consumer spending index. The higher tax limit exemptions from FY 23-24 is also an indicator from government who is pushing India to be a spending economy. As per report of the Federation of Automobile Dealers Association, 11000 cars and 40000 bikes were sold across Gujarat on Dussehra. On a macro level, India is also poised to surpass Japan and become 2nd largest economy of the Asia-Pacific region. The CA fraternity will be playing a huge role in the rise and management of the earnings of the population of India.
However, in all of this, it is very important to take care of health too as we read in the media about the ever increasing health cases especially the cardiac events. Our profession combined with ever increasing use of technology is making the office hours sedentary. It is very important to take care of the body as much as it is to take care of the mind. The association along with Ahmedabad Branch of ICAI has been actively organizing programs on health like free medical test camps, CPR training and organ donation but sadly it is seen that members do not participate in large numbers. This shows that we are taking our health for granted. Lifestyle changes is the need of the day and as professionals, we need to be front runners in creating a mindset for it.
It gives me great pleasure to inform that the Publication Committee chaired by CA Mukesh Khandwala have contributed in the form of a book by CA Atul Shah on the topic Charitable Trust - Law & Practice. The book was released by CAA on October 13 at the author's seminar organized by Ahmedabad Branch of ICAI. It is penned in a very lucid manner keeping in mind the vast amendments related to laws governing the Charitable Trust and process of filing the audit report. The book has received phenomenal response from the fraternity. It is priced at Rs. 250/- and it is available to members of CAA for special rate of Rs. 200/-. I urge all members to buy this book which will serve as a ready reckoner on the subject.
The Office Bearers of the association along with Chairman CA S K Sadhwani and Convenor CA Ajit Shah of Direct Tax Representation Committee had a meeting with Principle Chief Commissioner of Income Tax Gujarat Shri Yeshwant U Chavan and Director General of Investigation - Gujarat Shri Ravjit Arneja. We had a fruitful discussion about the current and future scenario of Income Tax, Allied Laws and its assessments. The principle authorities have urged us to bring to their attention any issues being faced by assesses in any matter related to Income Tax. They were very patient and positive in all the points discussed with them. The demeanor of these apex authorities clearly show the friendly attitude towards the honest tax payers along with stern eye on the dishonest ones.
The 'Tech Tuesdays' email compiled by Information Technology committee have been receiving great response. Chairman CA Rushabh Shah and his team have planned many more such knowledge sharing emails and seminars on tools and shortcuts which can be useful for daily office work helping to save time. As we move to Smart Work instead of Hard Work, there are multiple events planned for the upcoming months being a mix of professional development, sports and fellowship. Looking forward for a wonderful participation. Thank you!
CA. Shivang R. Chokshi, President
Chartered Accountants Association, Ahmedabad