Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

April 2012

FROM THE PRESIDENT

By Pradip K. Thanawala
Reading Time 5 mins
fiogf49gjkf0d
Dear Members,

This has been a rather disappointing month. The Railway budget presented in Parliament raised so much controversy that one wondered whether the Finance Minister would be able to keep his scheduled date for presentation of the Budget. Perhaps, the Railway budget was to an extent a precursor of what was to follow. Although the speech of the Finance Minister on the floor of the house while presenting the budget did not inspire much confidence, after one read the fine print in the Finance Bill one felt really devastated. Much has already been said about the Budget. In fact, the editorial discusses retrospective amendments and questions their advisability. At the Society, we have already made our post-budget representation, and we hope that our voice will be heard in the corridors of power.

Talking of representations I often hear a refrain among many professionals, particularly the younger lot, that making such representations is an exercise in futility. Being an eternal optimist I do not concur with this view. I believe that as an institution of professionals it is our duty to bring to the notice of lawmakers the difficulties and problems that would arise if the provisions are enacted in the form they are proposed. The manner in which such a representation should be made, so that it attracts the requisite attention, can be discussed, but the making of representations cannot be dispensed with. It is often said that communicating with a stubborn bureaucracy is like banging your head against a wall. Many a time this is true, but there are exceptions. In a majority of cases the head is likely to suffer injury, but sometimes the ball will give me one.

Recently, all taxpayers are facing substantial hardship with their refunds being adjusted against non-existing demands. The Society has continuously been following both on formal and informal basis this issue with the authorities concerned. We were pleasantly surprised by the response of some officials in Mumbai as well as some of their counterparts in Bangalore. Although the effect of their action may not be all pervasive, even if it brings solace to some taxpayers, the representation of the Society and its efforts will have been rewarded. We hope that many more proactive officials are appointed in relevant positions, so that some of the hardships faced by taxpayers will be mitigated.

While the Budget has failed to provide any relief, the news of various scandals continues unabated. The anger and frustration of the Indian public is mounting, but it needs to be channelised, or else it will give way to despondency or indifference. Unfortunately, those who are currently spearheading the fight against corruption seem to have lost all clarity of purpose. One had hoped that after the break that they had taken, they would marshal their resources in a more efficient way and with better purpose. In a battle against corruption, the media hype can never replace a well-knit organisational structure. Some rounds of a battle against corruption may be won by sporadic action, but to win the war one will require a well thought-out strategy and substantial patience. One does not find this in the existing leadership of the movement against corruption.

Finally, one of the legends of Indian cricket Rahul Dravid called it a day. I have always admired the grace with which he carried himself both on the field and off it. There are very few cricketers for whom one can use the term gentleman, and Raul Dravid is one of them. The world has always been fascinated by the achievements of Sachin Tendulkar, but we forget that many a time the master was able to achieve what he did on account of the strength of the “wall”. I join the entire nation in saluting this fine person. In fact, politicians have quite a few things to learn from this man. He played life with a straight bat and retired with grace. If many of our politicians emulated his example their parties, and the nation would thank them.

Last July, you had entrusted me with the responsibility of leading this organisation. I have tried to shoulder the responsibility to the best of my ability. My only regret is that our members and the readers of this Journal do not express themselves about what they feel about the organisation. It is only if we at the Society hear from you that we will be able to change track if we are going wrong. I would be very happy to receive bouquets of praise, but I am also willing to face brickbats, because I am sure that they will be well intentioned and in the interests of the Society. It is only when there is total silence that we office bearers worry whether we are traversing the right path. Therefore, it is my earnest request to all of you to please communicate with me or any of the office bearers with your feedback.

We are coming to the close of what has been a turbulent financial year. All of you have worked very hard and deserve a small break. So let us look forward to a small vacation before we begin the daily grind in the new financial year. Therefore, before I sign off, let me wish all of you a very happy and prosperous new financial year!

You May Also Like