From The President
Dear Esteemed Readers,
At the outset, my greetings to all of you on the ensuing
happy occasion of Deepawali – the festival of lights, which we celebrate to mark
the victory of ‘Good’ over ‘Evil’. The Ramayana notes that the people of Ayodhya
celebrated ‘Deepawali’ by lighting lamps and distributing sweets to mark the
victory of Rama over Ravana. Later, during King Vikram’s reign, this celebration
was linked with the New Year, which is why it has become a popular festival for
millions in India.
The war within the Ramayana is symbolic. Every person has a
battlefield within, where there is a constant fight between good and evil. We
have to conquer all our negative emotions with a positive attitude and courage.
On a positive note, India can take pride in the successful
organisation of the Commonwealth Games. The world was stunned by the spectacular
opening as well as by the scintillating closing ceremony. The depiction of
cultural and traditional India, marking the opening ceremony, was one of the
most creative ways which the world would never forget. The Commonwealth Games (CWG)
“aerostat”, unveiled at the inauguration ceremony, was another star attraction.
Our athletes and sports persons brought pride to the country by winning
sufficient number of gold medals to keep India at second position. The power of
creative visualization was evident as India achieved its targeted second
position. India is now poised to make its mark at the forthcoming Asiad Games in
China between 12th and 27th November 2010.
However, the huge expenditure of about Rs. 70,000 crores for
the CWG is mired in allegations of massive corruption. I think India did a
fantastic job in CWG but for the corruption, which has not only tarnished the
image of our country, but has also made the life of the aam aadmi
miserable to the core. Isn’t it an irony that the apex court had to comment that
“it is high time that the Government fixes price tags of bribes for getting work
done from the Government Department?” In spite of such severe strictures, our
spineless politicians remain unruffled. The gravity of “corruption” is aptly
shown in the Marathi film, “Ek Cup Chya”. This film, with English
subtitles, screened at BCAS for the benefit of its members on 6th
October 2010 is about an honest bus conductor who receives an abnormally high
electricity bill and how he fights the mighty system and the “babus”
through the weapon of “Right to Information Act”. He succeeds ultimately, but
the amount of hardships and sacrifices that he and his family have to endure for
treading the path of truth and honesty is memorable indeed. Mrs. and Mr. Julio
Ribeiro (Ex Police Commissioner) were amongst the distinguished guests at this
movie screening.
India is a land of paradoxes. On the one hand, tonnes of food
grains get spoiled due to improper storage facilities. On the other hand, almost
one third of its population is starving. Several orders and directions from the
Supreme Court to distribute food grains to the poor and needy have not
fructified. Another area of concern is conversion of thousands of hectares of
agricultural land into non agricultural use in the name of development. With a
one billion plus population and low productivity, India would find it extremely
difficult to feed its teeming populace in future, unless such conversion is
halted forthwith.
On 1st October, 2010, BCAS, jointly with IMC, had
an interactive meeting with the Commissioners of Service Tax department S/s
Ravichandran and K. K. Sharma, at which several issues concerning service tax
compliances and policy matters, including implementation of e-filing, etc. were
discussed. The meeting was a step towards co-operation and discussions between
professionals and revenue authorities which would go a long way in developing an
atmosphere of mutual trust and support. At the end of the meeting, both parties
felt the need to meet more often and exchange views as everyone is in the
learning curve, the law being in the developing and unfolding stage.
On 12th October, 2010, the BCAS Foundation,
jointly with the Public Concern for Governing Trust and IMC, celebrated the 5th
anniversary of the Right to Information Act at the IMC. Hon’ble Justice Suresh
Hosbet, former Judge of the Mumbai High Court, was the chief guest of the
evening. In his keynote address, he emphasized on the need for well informed
citizens such that they can participate in the affairs of the country. He
referred to various decisions of the Supreme Court, which are helpful in better
understanding of the RTI Act. Amongst other notable speakers were S/s Suresh
Joshi, retired Chief Information Commissioner, Maharashtra, Julio Ribeiro and
Narayan Varma. An educative and instructive street play on the RTI Act was
enacted by young artists of the “Umang” Group.
On the unique day “20102010”, a lecture meeting on the topic
of “Taxation of Real Estate – Some Important Aspects including Project
Completion Method, S. 50C, development and Redevelopment & 80-IB (10)” addressed
by Past President, Mr. Pradip Kapasi, elicited an overwhelming response with
about 400 members attending at the IMC.
A study course on FEMA organized by the International
Taxation Committee of the Society on 22nd and 23rd October
2010 also received a very good response, with more than 100 members attending
and benefiting therefrom.
It is said that October heat is worse than summer. Mumbai
experienced unprecedented heat this month, contributing to epidemics such as
Malaria and Dengue. Widespread construction and consequent debris and filth have
only added fuel to the fire. BCAS lost one of its dedicated and hardworking core
group members, Mr. Manesh Gandhi, on 10th October 2010. He succumbed
to Dengue after a brief illness of just two days. In him, the Society has lost a
committed member of the Taxation Committee and Convenor of the Study Circle on
Direct Tax Laws. May his soul rest in eternal peace!
The much awaited Residential Refresher Course has been
finalized at the picturesque and lush green hill station of Maharashtra, namely,
Matheran, during 22nd to 25th January 2011.
The Noble Peace Prize for 2010 has been awarded to Mr. Liu
Xiaobo, who is a political prisoner in China. He believes that freedom of
expression is the foundation of human rights. In China, he fought for this right
and got imprisoned, whereas in India, we not only enjoy this right but often
times, abuse it and get away with it. In life, we don’t value a thing which we
get easily. It is high time that we realise the value of freedom of expression
and use it wisely. This applies to every walk of life, be it professional,
political or personal. Someone has aptly said, “As per Biological Science, the
hurt on tongue gets healed very fast, but as per Science of Knowledge, hurt
caused by tongue never gets healed.”
I conclude wishing the readership a happy Deepawali and a
prosperous New Year, once again.
