By C. N. Vaze
Chartered Accountant
Arjun : (Chanting) Hare Rama Hare Krishna…
Shrikrishna : Arjun, I am sure you are praying for extension of due date.
Arjun : Oh, Lord, I didn’t notice when you arrived.
Shrikrishna : I am omnipresent.
Arjun : Yes, you guessed correctly what I was thinking about. September is
really a nightmare for all of us. It is a yearly phenomenon.
Shrikrishna : All these years, I used to feel that the fault lies with you CAs only.
But over the years I realised that it is a problem of the system. It has become
a chronic issue.
Arjun : You said it! Actually, our time and energy is lost in the relatively
unproductive exercise of filing smaller returns. Government also may not be
getting substantial revenue from it.
Shrikrishna : But you get 2 full months after 31st of July.
Arjun : Agreed. But this year, even that date was extended up to 31st
of August. It was followed by Shree Ganesh festival.
Shrikrishna : But Ganesh festival is only in a few states.
Arjun : What you say is right. But Mumbai is the financial capital. So the
social life of Mumbai has to be considered by the government. And there were
disastrous floods in Maharashtra. This year, there was a record rainfall.
Shrikrishna : Why don’t you tell all this to the government?
Arjun : Further, all our experienced CA trainees are on exam leave in
September. Government – especially bureaucrats – are least bothered about our
problems.
Shrikrishna : This would be the problem of all seasonal businesses and professions.
Arjun : And all compliances almost coincide with each other. Tax audits, tax
returns, GST, company law compliances, AGM – everything simultaneously. How can
we cope up with all these?
Shrikrishna : But your clients also have to take it seriously. Don’t they co-operate?
Arjun : That is another hazard! All clients appear at the 11th hour
only. Each one is under the sweet impression that he is our only client. They
are relaxed when we are slogging day and night for them! They feel that we are
doing all these compliances for our own sake only! They have nothing to do with
any paper work. Accounting Standards, Auditing Standards and other regulations…
Shrikrishna : Then let them suffer penalties.
Arjun : That is true! But again they blame us! And the present-day tax
terrorism is depressing. For every small default, there is disproportionate
penalty and even prosecution.
Shrikrishna : Why don’t you employ more qualified staff?
Arjun : Bhagwan, in today’s grave recession, we find it difficult to pay
salaries to even the existing staff. Again, newly-passed CAs do not wish to
enter this profession. I am told, even the number of new students joining the
course has reduced by more than half.
Shrikrishna : But I know that you have a common practice of backdating the signatures!
Arjun : Ha! Ha! Ha! But now, that is also restricted. We need to generate ‘UDIN’.
Shrikrishna : What is that?
Arjun : Unique Document Identification Number. Actually, it is in our interest
only as there were many instances of forgery of CAs’ signatures on financial
statements. Now, after signing the audit, we have to generate our UDIN for each
document within 15 days.
Shrikrishna : That means, from all angles, you are trapped. That should curb many unethical
practices.
Arjun : Bhagwan, finally all our discussions turn to the topic of
ethics. For your information, non-generation of UDIN is also now regarded as a
professional misconduct.
Shrikrishna : Then you need to be extra careful. In a hurry and confusion, you may
forget to do so in a few cases! I suggest you better establish a proper system
of recording the dates of signatures and creation of UDIN. The best way is not
to sign any document without UDIN.
Arjun : Bhagwan, it is an ideal or dream situation! Never possible in a
typical CA’s office. The pressure of
uploading is too acute – rather, suffocating.
Shrikrishna : Then really, all of you should come together; and think of a real
solution to this perpetual, never-ending problem. You only take a lead and God
will support you!
Arjun : Yes, My Lord! I will do it next year!
Om Shanti.
(This dialogue is based on the yearly
problem of tax compliances in CAs’ offices and the requirement of UDIN in Code
of Ethics)
