Category: Society News

1. Blood Donation & Platelet Donation Awareness Drive held on Friday 13th February 2026 @ BCAS.

On Friday, 13th February 2026, the BCAS Foundation, jointly with the Seminar, Membership & Public Relations Committee of BCAS, held the annual “Blood Donation Drive”, enlisting the support of Tata Memorial Hospital (TMH).

Doctors and technicians from TMH screened 63 potential donors using a detailed questionnaire they completed. 54 units of blood were collected from eligible donors, including the former president, the Hon. Joint Secretary, the Convenors of the SMPR committee, and BCAS members and staff.

To raise awareness and dispel myths about platelet donation, a “Platelet Donation Awareness Drive” was also held, with donors providing a blood sample for a platelet donation eligibility check.

In recognition of their invaluable contribution, each blood donor was presented with a “Life Saver” medal. NSS volunteers from H R College of Commerce & Economics and Dharma Bharathi Mission canvassed around the area to spread awareness of the drive and encourage interested parties to come and get their eligibility confirmed for donating blood to the noble cause.

2. Public Lecture Meeting on Direct Tax Provisions of Finance Bill, 2026 held on Saturday, 7th February 2026 @ Yogi Sabhagruh Auditorium, Dadar East.

The public lecture on Direct Tax Provisions under the Finance Bill 2026 was delivered by noted tax expert CA Shri Pinakin Desai before a packed audience at Yogi Sabhagruha, Dadar. The session assumed particular significance as this is the first Budget where amendments operate simultaneously in two legislations — the Income-tax Act, 1961 and the new Income-tax Act, 2025, which is set to come into force from 1 April 2026.

Shri Desai described the Budget as largely calibrated and balanced, but cautioned that certain policy-level concerns emerging from the transition to the 2025 Act merit closer professional examination. He observed that while the Joint Parliamentary Committee largely confined itself to administrative aspects, some substantive policy shifts embedded in the new legislation may require representation and deeper deliberation at professional forums.

Certain deliberations from his session are covered here in brief:

1. Broad framework:

Unlike prior years, there were virtually no changes to slab rates. The focus was on structural rationalisation:

• Calibration of Securities Transaction Tax (STT) to moderate speculative activity.
• Rationalisation of TDS/TCS rates.
• Reduction of TCS on overseas tour packages from 20% to 2%.

2. Corporate and Structural Reforms

MAT Regime:

From 1 April 2026, companies continuing under MAT may lose MAT credit going forward, effectively nudging domestic companies towards the concessional regime. Foreign companies, lacking this option, appear disproportionately affected.

ICDS and Ind AS Integration:

A proposal to merge ICDS with Ind AS has been introduced. Concerns remain regarding compatibility with IFRS-based accounting standards.

Transfer Pricing and Safe Harbour:

Safe harbour margins for IT-enabled services have been consolidated at 15% with an enhanced turnover threshold of ₹2,000 crore. Correlative relief is now provided to foreign companies where APAs lead to secondary adjustments.

Data Centres and GCCs:

Foreign companies procuring specified data centre services in India are granted tax protection up to 2047, reducing litigation around income attribution.

3. Computation and Compliance Amendments

Dividend and Interest:

No deduction of interest expenditure will be allowed against dividend or mutual fund income under “Income from Other Sources,” raising concerns on taxation of gross income principles.

Employees’ PF Contribution:

A relief measure now allows deduction if employees’ contribution is deposited before the due date of filing the return under section 139(1), even if delayed under the PF Act.

Buyback Taxation:

Buyback proceeds will be taxed under capital gains from 1 April 2026 instead of as dividend income. Promoter-category shareholders face higher specified tax rates, raising interpretational issues.

Unexplained Income:

Voluntary disclosure in the return attracts tax at 30%. If detected in an assessment, immunity from penalty requires payment of tax plus 120% additional tax.

4. Litigation and Procedural Changes

Decriminalisation:

Several prosecution provisions have been removed or diluted, with reduced imprisonment terms and enhanced monetary thresholds — a significant compliance reform.

Retrospective Amendments:

Four retrospective amendments, including one dating back to 2007 relating to DRP timelines, were introduced — a development viewed with concern.

Mandatory Fees:

Certain penalties are proposed to be converted into mandatory fees, removing discretion and the opportunity of hearing.

Combined Assessment and Penalty Orders:

Assessment and penalty may now be passed through a combined order. While the recovery of the penalty may remain stayed on appeal, concerns were expressed about potential bias and increased litigation exposure.

5. Other Notable Clarifications

Sovereign Gold Bonds:

Exemption on redemption will apply only to primary subscribers holding bonds till maturity, though coverage is extended to all bond series prospectively.

Compulsory Acquisition:

Exemption relating to acquisition under the land acquisition law is now incorporated into the Income-tax Act, though limited to individuals and HUFs, creating possible interpretational issues for companies.

In conclusion, Shri Desai remarked that although the Budget may outwardly appear minimalist, it contains several nuanced structural changes with long-term implications for corporate taxation, transfer pricing, litigation strategy, and compliance architecture.

The meeting witnessed an enthusiastic response, with over 400 participants attending in person and more than 11,491 viewers online and still counting.

The lecture meeting can be viewed on the BCAS YouTube channel at the designated QR code.

3. 26th Course on Double Taxation Avoidance Agreements held from Monday 15th December 2025 to Thursday 29th January 2026@ Virtual.

Following the highly successful and well-received Silver Jubilee edition of the Course on Double Taxation Avoidance Agreement, which featured a revised format, this edition returned to the traditional format of live sessions covering all topics. The course broadly included the following:

• 28 sessions on various international tax topics and covered almost all the key articles of the DTAAs.

• An overview of FEMA / MLI / GAAR, Transfer Pricing/ key provisions under the Income-tax Act/ TDS on payments to non-residents/ Dispute resolution under MAP, APA, etc.

• A Brain Trust session with distinguished panelists, and key current issues were debated, with panelists sharing divergent perspectives.

The sessions were relevant for beginners and intermediate levels of knowledge in international tax, with emphasis on case studies and sharing of practical insights.

More than 150 participants from more than 30 cities attended the course.

Scan to watch online at BCAS Academy

4. Direct Tax Laws Study Circle Meeting – “Analysis of Section 56(2) (x) of the Act with Practical Scenarios” held on Wednesday, 28th January 2026@ Virtual.

Section 56(2)(x) is a significant anti-abuse provision that aims to tax receipts of money or specified property without, or for inadequate consideration. The session highlighted key tax provisions, legal principles, and practical considerations involved in interpreting and applying the provision, particularly in the context of varied practical transactions.

Speaker: CA Chaitee Londhe

• The session provided an overview of Section 56(2) (x) as a residuary charging provision and explained the conditions governing its applicability.
• The expanded scope of the provision covering all categories of persons and specified properties was discussed.
• Judicial principles laid down by courts on the classification of income under appropriate heads were briefly highlighted.
• Practical implications of receipt of money or property without or for inadequate consideration were examined.
• Key scenarios involving compensation and indemnity receipts, distress-driven transactions, and waiver of loans were analysed.
• The taxability of issue and receipt of shares, including valuation-related aspects, was deliberated with reference to case law.
• The interplay between Section 56(2) (x) and Section 68 was discussed to highlight practical assessment issues.
• Certain complex and evolving scenarios, including transactions involving relatives and digital assets, were briefly touched upon.

The session was highly interactive, with active participation from the members. The speaker presented the complex provisions of Section 56(2) (x) in a structured and practical manner, enabling participants to gain clarity on its application across varied scenarios.

5. Lecture Meeting on Decision of Supreme Court in Tiger Global and it’s ramifications held on Friday, 23rd January 2026 @ Virtual

The lecture meeting, arranged to discuss the Supreme Court (SC) ruling in the case of Tiger Global pronounced on 15 January 2026, received wide interest from across India, given the ramifications of the decision. The chairman of the Session, Shri R. S. Syal laid down the context of the decision. The moderator CA Mahesh Nayak took the participants through the decision before opening the floor for brainstorming. Other Panelists, CA Rajan Vora and Adv. Rajesh Simhan addressed barrage of questions arising from the SC ruling in the Tiger Global. The Chairman, Adv. R. S. Syal also provided his thoughts on each of the questions raised to the panelists.

The discussion was focused on how one reads some of the observations of the Supreme Court as well as practically, how the decision impacts taxpayers, as well as Chartered Accountants who certify the taxability on foreign remittances. Some of the questions posed to the panel were:

• Whether the decision of the Supreme Court is only prima facie or is it a final ruling on the taxability?

• Can Judicial Anti-Avoidance provisions apply when GAAR rules are already in force?
• What is the difference between an investment and an arrangement, and what is grandfathered under the GAAR rules? Various other practical nuances (such as reopening of past matters / pending matters) were discussed.
• The Lecture meeting was attended by around 745 participants

The lecture meeting can be viewed on the BCAS YouTube channel at the designated QR code.

6. Lecture Meeting on Ancient Roots, Global Routes: Reimagining Global Leadership for the Indian CA held on Wednesday, 21st January 2026 @ Mathuradas Vasanji Hall, Grant Road, Mumbai

Seminar, Membership & Public Relations (SMPR) Committee organized a Lecture Meeting was held “Ancient Roots, Global Routes: Reimagining Global Leadership for the Indian CA” – by CA Shourya Doval on 21st January 2026. CA Shourya Doval, in his address, stated that India is emerging as a major economic power, now ranked fourth globally. “There can be no global peace and no global order without India,” he said. The session focused on how Chartered Accountants must navigate a rapidly evolving international economic and financial landscape while remaining anchored to core principles. The discussions centred on ethical leadership and value-based decision-making as essential foundations for developing future leaders in the global economy.

During the session, he was asked an insightful question: Coming from a proud Indian Military family, what inspired him to pursue Chartered Accountancy? His response reflected both depth and foresight. He explained that until 1990, global leadership was defined by military power, but the world thereafter began to be shaped by economic strength. His father had told him that future global influence would rest with nations built on strong economic foundations — a perspective that deeply resonated with him and ultimately inspired his decision to become a Chartered Accountant, contributing to the economic engine that drives nations forward.

The event concluded with interactions and networking among participants, underscoring BCAS’s focus on professional development and leadership preparedness within the Chartered Accountancy fraternity.

The lecture meeting was positioned alongside a guided tour specially conducted for BCAS members of the Jyot Foundation Exhibition “Vasudhaiva Kutumbakam Ki Oar 4: The 12 Principles That Can Shape a New World Order,” designed to provide attendees with an expanded cultural and philosophical understanding of the Global Leadership dialogue.

7. Members’ Awareness Drive on Practice Management held on Saturday, 15th November 2025 to Saturday, 17th January 2026 @ Virtual.

The Seminar, Membership and Public Relations Committee of Bombay Chartered Accountants’ Society (BCAS) organised the “Members’ Awareness Drive on Practice Management – Reimagining Practice: Awareness, Opportunities & Excellence – Empowering Every Member – One Area at a Time”. It was a 10-session virtual series held every Saturday from 15th November 2025 to 17th January 2026, with the objective of strengthening BCAS members’ practice management capabilities. In acknowledgement of the unwavering support displayed by the members to the flagship event of BCAS, all registered participants of the (then) upcoming 59th Members’ Residential Refresher Course were offered an opportunity to attend the series gratis.

The series focused on equipping practitioners to manage and grow their firms beyond technical competence, covering people management, technology adoption, profitability, collaboration, and future-readiness.

Session Highlights

1. CA Mrinal Mehta addressed practical challenges and common errors in GST Annual Returns and reconciliations, offering actionable compliance insights
2. CA Samit Saraf shared effective tools and techniques to strengthen internal audit processes and enhance audit value.
3. CA Vivek Shah provided a practical roadmap for setting up a CA firm in Dubai, covering opportunities, challenges, costs, and market considerations
4. CA Anand Banka discussed key nuances and practical complexities under IND AS with real-life application perspectives.
5. CA Lokesh Nathani emphasised the power of networking in professional growth and building long-term practice sustainability.
6. CA Nikunj Shah demonstrated how Artificial Intelligence can be harnessed to improve efficiency and competitiveness in CA practice.
7. CA Mangesh Kinare shared practical insights on financial reporting for SMEs, drawing valuable learnings from disciplinary matters.
8. CA Milin Mehta elaborated on strategic collaborations and firm mergers as growth drivers for small and mid-sized practices
9. CA Sushrut Chitale guided members on building a future-ready firm through structured processes, technology, and strategic vision.
10.  CA Chirag Mehta explained practical aspects of E-Invoicing and automation solutions tailored for small practitioners.

The sessions witnessed enthusiastic participation from the practising members, fostering meaningful discussions and the exchange of practical experiences.

8. BCAS NXT – Learning & Development Bootcamp – Overview of the New Income Tax Act, 2025 held on Friday, 16th January 2026 @ Virtual

The Human Resource Development Committee organised a BCAS NXT Learning & Development Bootcamp on “Overview of the New Income Tax Act, 2025” on Friday, 16th January 2026, from 5.00 pm to 7.00 pm.

The session was led by Ms Shravani Erram, a CA Final student, who delivered a detailed presentation covering an overview of the Income Tax Act, 2025, explaining the rationale behind the introduction of the new Act and the key structural and drafting changes. She highlighted important concepts such as the distinction between tax year and financial year, along with major comparative changes in heads of income, TDS, and TCS provisions. CA Aditya Pradhan, the mentor for the session, provided valuable insights and guidance throughout, offering expert interventions as needed.

The bootcamp was held in person at ASDT & CO and was also streamed online, with active participation from students across India.

More than 150+ students benefited from this session.

Scan to watch online on YouTube.

9. GST Compliances & Returns – A Practical Walkthrough: BCAS Initiative for Students held on Tuesday, 13th January 2026 @ N M College.

The session on GST Compliances & Returns – A Practical Walkthrough was organised for third-year B.Com students, with 46 students participating. The objective of the programme was to provide students with a practical understanding of GST compliance and the return filing framework, bridging the gap between academic concepts and real-life application.

The session conducted by CA Mansi V. Nagda focused on the GST return mechanism and process flow, explaining the compliance cycle from reporting of transactions to filing of returns. A structured explanation of GST utility forms was undertaken, covering GSTR-1, GSTR-2A, and GSTR-3B, with key terminologies, functional flow, inter-linkages, and commonly encountered compliance issues.

Emphasis was laid on understanding outward and inward supply reporting, reconciliation aspects, summary return filing, and the importance of accuracy and timeliness in GST compliance. The session adopted an interactive approach, enabling students to clarify conceptual and procedural aspects of GST returns.

10. Lecture Meeting on The World in 2026 and Beyond held on Friday, 12th December 2025 @ BCAS (Hybrid)

The joint lecture meeting of the Bombay Chartered Accountants Society and the Chamber of Tax Consultants featured Mr Sundeep Waslekar, Founder of Strategic Foresight Group and an internationally recognised expert on geopolitics and future studies. The session examined the evolving global order in 2026 and beyond, focusing on geopolitical tensions, artificial intelligence, economic uncertainty and strategic realignments.

The speaker framed the present period as a transitional and potentially turbulent phase in world history, where the existing global order is weakening while a new framework has yet to stabilise.

Key Global Themes

– Western Political and Economic Strain- Persistent geopolitical conflicts, particularly the prolonged Ukraine war, combined with economic stress and political polarisation, could create instability in parts of the West. Such shifts may alter global power balances and open strategic space for emerging economies.

– The AI Arms Race – The competition between the United States and China has moved beyond consumer AI applications to AI-driven scientific discovery. Advanced systems capable of generating new insights in biology, chemistry and physics could redefine global technological leadership. Risks discussed included AI-enabled cyber warfare, biological threats and even autonomous military escalation, underscoring the need for ethical and strategic safeguards.

– Competing Models of World Order- If large-scale conflict is avoided, the next phase may involve a philosophical contest over models of global governance and power concentration. Current geopolitical manoeuvres were analysed in this broader context.

IMPLICATIONS FOR INDIA

India’s balanced geopolitical stance was described as strategically prudent. However, the speaker cautioned that India must invest more deeply in foundational scientific research and advanced AI systems, rather than limiting itself to application-level innovation. Space technology and next-generation computing were identified as important opportunity areas.

While moderate global growth remains possible, geopolitical shocks and rapid AI investments could significantly influence economic trajectories. The Gulf region’s rise as an AI and data infrastructure hub was noted, though accompanied by regional vulnerabilities.

The session concluded with a balanced perspective — acknowledging serious global risks while emphasising that the majority of nations and people seek stability and prosperity. The coming years will determine whether cooperative global leadership can prevail over destabilising forces.

The lecture witnessed active participation from members across regions, reflecting the profession’s growing engagement with global developments that increasingly influence economic and professional landscapes.

The lecture meeting can be viewed on the BCAS YouTube channel at the designated QR code.

II. BCAS INITIATIVES

•  BCAS Signs MOU with SIMSREE

The Bombay Chartered Accountants’ Society (BCAS) has signed an MOU with Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE) to establish a framework for cooperation in the areas of capacity building, training & skill development between the two Insititutions.

The MOU between BCAS & SIMREE is to facilitate and conduct the following activities as mutually agreed upon:

1. Workshops & Seminars
2. Curriculum Development
3. Invitation to select Programs & use of each other’s premises
4. Research & Advocacy

The MOU Signing Ceremony was conducted in the presence of President CA Zubin Billimoria, Vice President CA Kinjal Shah, Joint Secretary CA Mandar Telang, SMPR Committee Chairman CA Uday Sathaye & Past President CA Pradip Thanawala.

III. BCAS IN NEWS & MEDIA

•  BCAS has been featured in several news and media platforms, showing our active involvement, professional contributions, and commitment to the field. This reflects the growing recognition of BCAS in the public and professional space.

Link: https://bcasonline.org/bcas-in-news/

QR Code:

BCAJ Admin

1. Finance, Corporate & Allied Law Study Circle – REIT n InvIT as Investment avenues held on Thursday, 13th February, 2025 @ Zoom.

CA Harry Parikh explained the concepts of REIT and InvIT, their features, structural overview, eligibility criteria, investment conditions, etc. He highlighted that REIT or InvIT are investment products and not a tax-saving product. He dealt with the decision-making criteria for investing in REIT or InvIT vis-a-vis traditional investment with the help of examples of REITs. He also enlightened on the key differences between Equity vs. Mutual Fund vs. REIT vs. InvIT, and tax implications thereof. He also shared his insights on factors to be considered for investing in REIT.

More than 70 participants enriched out of the masterly analysis of REIT, InvIT as investment avenues.

Youtube Link: https://www.youtube.com/watch?v=GxO-5VpL-xk

2. Public Lecture Meeting on “Union Budget 25 — Indirect Tax Proposals” held on Wednesday, 12th February 2025 @ Zoom.

The lecture meeting on the Union Budget 2025 and its Indirect Tax Proposals, held on 12th February 2025, featured CA Sunil Gabhawalla discussing various amendments in the Finance Bill 2025. He focused primarily on GST provisions while briefly touching upon customs, excise, and service tax amendments.

He began by explaining the concept of ‘input service distributor,’ detailing its position in the pre-GST regime, GST regime until 31st March 2025, and the post-2025 scenario. He highlighted differences in the definition of ‘Input Service Distributor’ (ISD) between the existing and proposed regimes, emphasising the potential for varied interpretations and possible litigations. Using the draft circular issued by the CBIC and other relevant jurisprudence, he illustrated cases falling under the ISD and Cross Charge Mechanisms.

He also examined the impact of retrospective amendments in the GST law, referencing the Hon’ble Supreme Court’s decision in the Safari Retreat’s case and highlighting open issues post-amendment. Further, he discussed issues arising from the amendment that incorporates additional conditions for self-adjustment of taxes based on credit notes. He provided guidance on addressing these issues, especially in light of the mandatory Invoice Management System (IMS) introduced by GSTIN in October 2024. He cited practical examples to highlight various aspects taxpayers should consider when dealing with the IMS mechanism. Additionally, he explained how the proposed track and trace mechanism would complement E-way Bill provisions. The meeting emphasised the government’s intent to gather maximum data and use artificial intelligence to curb tax evasion, leading to increased compliance and affecting the ease of doing business.

Finally, he covered miscellaneous amendments related to ‘local authorities,’ ‘vouchers,’ amendments in Schedule III concerning supplies by SEZ / FTWZ units, and the rationalisation of pre-deposits required under appellate proceedings in disputed orders imposing penalties.

The lecture was attended by approximately 325 participants online.

BCAS Lecture Meetings are high-quality professional development sessions which are open to all to attend and participate. The readers can view the lecture meeting at the below-mentioned link:

Youtube Link: https://www.youtube.com/watch?v=yAzBv4CAHNw

3. Public Lecture Meeting on Direct Tax Provisions of Finance Bill, 2025 held on Thursday 6th February, 2025 @ Yogi Sabhagruh Auditorium Dadar East

The public lecture on Direct Tax Provisions under the Finance Bill 2025 was a comprehensive discussion led by noted tax expert CA Shri Pinakin Desai. The session emphasised the significant changes in income tax slab rates and corresponding rebate provisions, which were perceived positively. The lecture highlighted that this year’s budget prioritises stimulating consumption over infrastructure investment, marking a substantial increase in tax-free slab rates compared to previous years. Notably, there was a significant shift anticipated as taxpayers may transition from the old tax regime to the new one, leading to increased discretionary spending and ultimately contributing to GDP growth.

Shri Pinakin Desai provided insights into several key provisions of the Finance Bill, 2025 analysing changes to tax rates, corporate taxation, TDS rationalisation, and the taxation of charitable trusts. The lecture also discussed new provisions concerning Tax Collection at Source (TCS) and implications for companies undergoing amalgamations. Shri Pinakinbhai’s thorough analysis offered clarity on how these changes would affect various stakeholders and emphasised the need for careful navigation of the new tax landscape.

KEY INSIGHTS

• Increased Tax-Free Income Thresholds: The new regime allows individuals to earn up to ₹12.75 lakhs without incurring tax, significantly benefiting middle-income taxpayers. This change is expected to uplift the overall spending capacity of households, resulting in higher consumption rates and positively influencing economic growth.
• Charitable Trust Registration Validity: The extension of the registration period for small charitable trusts from five to ten years represents a significant reduction in administrative burdens for these entities, encouraging more charitable initiatives and financial stability among smaller trusts.
• Tax Deductions for Rent Payments: The amendment reducing the threshold for tax withholding on rent from ₹2.4 lakhs annually to ₹50,000 monthly for companies is a notable change.
• Implications of Changes in applicability of Rebate: The decision to disallow rebates for special rate incomes under capital gains could reduce tax relief for many taxpayers, necessitating careful consideration of investment strategies to optimise tax liabilities.
• Restrictions on Loss Migration: The amendment aims to curb the indefinite extension of loss carry-forwards through repeated amalgamations, ensuring a fair and consistent tax treatment. Previously, amalgamated companies could extend the carry-forward period indefinitely, effectively resetting the 8-year limit with each new amalgamation. The amendment aims to prevent this perpetual “evergreening” of losses. Shri Pinakinbhai explained the impact of this amendment through various illustrations.
• Non-Resident Tax Incentives: The concessional tax rates for foreign entities providing technology and services to specified manufacturing industries reflect India’s strategy to foster foreign investment in critical sectors such as electronics, enhancing competitive advantages and technological development. A new presumptive taxation scheme introduced for non-residents providing services or technology to Indian companies engaged in the manufacture of electronic goods. Shri Pinakinbhai also highlighted possibility of a drafting error in the proposed legislation, mistakenly suggesting that both payment and receipt of 100 rupees result in a taxable consideration of 200 rupees which should be corrected to align with sections 44B and 44BB, of the Income-tax Act.
• Extension of time limit for passing Penalty Orders: The time limit for completing penalty orders related to assessment has been changed from 6 months from the month of receiving the order from the tribunal to 6 months from the end of the quarter of receiving the order.
• Transfer Pricing Assessment: Instead of annual assessments, a block of 3 years for determining the Arm’s Length Price (ALP) is introduced. Once the methodology is settled in the first year, it remains binding for the next two years. Taxpayers can opt for this block assessment, either during or after the Transfer Pricing (TP) assessment. He also mentioned that the effectiveness of these new measures shall depend upon the rules to be prescribed in this regard.
• Updated Return Filing: The provision now allows updated returns to be filed up to the end of the third or fourth year, with additional taxes of 60 per cent and 70 per cent, respectively. This provision aims to promote compliance by offering a structured approach for taxpayers to rectify errors or omissions, albeit with significant additional tax implications for later filings.

In summary, the lecture delivered by Shri Pinakin Desai provided a detailed analysis of the Finance Bill 2025, shedding light on various changes that will impact individual taxpayers, businesses, and charitable organisations alike. The meeting was attended in person by 450 plus participants and encouraging response of over 26,000+ viewers online.

The readers can view the lecture meeting at the below-mentioned link:

Youtube Link: https://www.youtube.com/watch?v=ncVT3ejAtPA

4. Felicitation of Chartered Accountancy pass-outs of the November 2024 Batch held on Friday, 31st January, 2025 @ IMC.

Milestone 2.0 — Felicitation of newly qualified CAs of the November 2024 batch.

A felicitation event for the newly qualified chartered accountants of the November 2024 batch was held on 31st January, 2025, at the Walchand Hirachand Hall of the Indian Merchant Chambers building at Churchgate by the SMPR Committee. The event was highly successful and close to 400 candidates attended the event. The theme for the event was Milestone 2.0, and the guest and mentor for the event was Past President CA Naushad Panjwani. He guided the participants by taking them through the Japanese concept of Ikigai and drawing parallels to their phase in life where they should aim to find their Ikigai, which would lead them to success and happiness. The participants diligently listened and also provided their perspectives on the matter. Rankers were felicitated first, and they addressed the audience subsequently and shared their experience throughout the journey of becoming a CA. A celebratory cake was cut and then all the successful newly passed CAs were felicitated. The excitement on everyone’s faces was visible, and that is testimony to the success of the event.

5. Indirect Tax Laws Study Circle Meeting held on Friday, 31st January, 2025 @ Zoom.

Group leaders CA G. Sujatha & CA Archana Jain prepared and presented various case studies on Government Supplies and explained the concepts of Central Government, Government Authority, State Government, etc.

The presentation covered the following aspects for detailed discussion:

1. Concept of Supplies by Central Government, State Government, Local Authority.

2. Supplies liable to tax or part of sovereign function.

3. Taxability of charges paid to the Ministry of Corporate Affairs at the time of registration & subsequently do both enjoy the exemption.

4. Detailed discussion on mining rights and other rights associated with land and fees paid for getting rights.

Around 60 participants from all over India benefitted by taking an active part in the discussion. Participants appreciated the efforts of the group leader & group mentor.

6. ITF Study Circle Meeting held on Thursday, 30th January, 2025 @ Zoom.

Group Leaders – CA Nemin Shah and CA Dipika Agarwal

Guidance for Application of Principal Purpose Test under India’s treaties vide CBDT Circular 1/2025 dated 21st January, 2025 (Circular) — Group Leader CA Nemin Shah.

During the session, CA Nemin Shah discussed the context relating to the Principal Purpose Test (PPT). For this, he extensively discussed the basics of MLI and PPT. Another perspective which was discussed was whether PPT was for general anti-avoidance or a specific anti-avoidance. The Group Leader went on to discuss the key points of the Circular, such as the application of PPT is based on an objective assessment of the relevant facts and circumstances, its applicability in cases where the PPT has been incorporated through bilateral negotiations or through MLI, the scope of grandfathering provisions under the treaties which will remain outside the purview of PPT. He went on to discuss the various issues that could arise, such as its applicability to the India-Mauritius tax treaty, which MLI does not cover.

SC Lowy P.I. (Lux) S.A.R.L, Luxembourg v. ACIT [2024] 170 taxmann.com 475 (Del-Tribunal) – Group Leader CA Dipika Agarwal

CA Dipika explained the facts and the arguments of the assessee and revenue. She discussed the Tribunal’s findings. One of the key focus points of the discussion was that it appeared from the Tribunal’s order that PPT was not invoked at the assessment level, but discussed only at the Appellate level. Further,
there was no discussion in the Tribunal’s order for choosing Luxembourg over the Cayman Islands for making investments. The group discussed the implications of the same. The Group Leader went on to discuss the Tribunal’s findings in relation to Tax Residencey Certificate (TRC) and Limitation of Benefits (LOB). With respect to the PPT clause, the assessee’s incorporation in Luxembourg was not for the principal purpose of obtaining tax treaty benefits, as it had substantial investments, which it continues to hold.

7. 22nd Residential Leadership Retreat — Living in Harmony held on Friday, 24th January, 2025 and Saturday, 25th January, 2025 @ Rambhau Mhalgi Prabodhini Keshav Srushti Bhayander (West)

The 22nd Leadership Retreat was held on the theme of `Living in Harmony’ under the guidance and training of Mr M. K. Ramanujam and Mr R Gurumurthy. 27 participants including 6 couples attended, of which, more than 15 participants were attending the Leadership Retreat for the first time.

The key learnings are summarised as follows:

• Harmony is unity in diversity which brings joy, peace, happiness, satisfaction and fulfilment.
• One has to focus from zoom in to zoom out. i.e. look at the wider picture from a broad perspective for a higher purpose over a long span and come out of small and micro views. Zooming out is like a compass of values to find the right meaning in life.

To identify challenges, zoom in and use an emotional filter to zoom out.

• P R E M A: The acronym represented Positive Emotions, Relationship, Engagement.
• (Karma Yoga), Meaningful Life and Achievement – selfless service for a noble cause. This could be the guiding light.
• Listen vis-a-vis Silent. Listen with empathy and compassion. Words “Silent” and “Listen” are complementing. So, engage in listening to be silent within and establish connect outside.
• R A S (Reticular Access Syndrome) explains that whatever one focuses on, expands in the mind. We see the world as we are. So, one can use this to reinforce the attention to important things in life.
• Nature operates on contrast. Sattva, Rajas and Tamas are like an interplay of darkness and light. The contrast of bright and dark, light and dark, day and night, white and black, happiness and sadness, joy and gloom. Contrast is natural. Negative things help us to appreciate the value of positives. Pain is a warning signal to pause. Self-acceptance guides us to Harmony. Therefore, one can transform from fear to faith, anger to care and work to relax.
• Practice Harmony by observing without being judgemental.
• Understand the basic needs, physical, social, spiritual, personal, interpersonal. The needs are distinct from wants. Needs are expressed through feelings. Listen to the feelings. One can understand that anger moves us away, whereas Love and compassion bring us closer to Harmony. Human pursuit (Purushartha) is for Kama, Artha, Dharma & Moksha. The purpose of human life is Moksha, for which doing Kama or pursuing Artha should be based on Dharma, respecting the highest universal values and principles.
• Like a peel on the surface of a juicy fruit, the outer layer may have an unpleasant taste, but with faith and conviction, one can have the taste of juice and nectar within.
• Bring inner transformation by working from Gratitude with Empathy & compassion.

In the penultimate session, discussion was on the film Peaceful Warrior and the inspiring message coming out from the film’s dialogues.

In the concluding session, the participants shared the key points of learning from the camp.

8. Fireside Chat on “Return of Trump – What does it mean for America, India and the World” held on Monday, 27th January, 2025 @ BCAS

Speaker: Shri Natwar Gandhi

Moderator: Shri Rashmin Sanghvi

Widespread fear about various executive orders signed by Mr Trump is misplaced as most of them have been challenged and will have to pass the test of constitutional validity.

America has a strong democracy and deep-rooted institutions. No president can make fundamental changes at his will. Even with a majority in Congress and Senate, constitutional changes are not going to be possible in his four-year term.

One can expect him to use tariffs as a negotiating tool to gain trade favours. However, in the long term, it will hurt the US as well as the country on which high tariff is levied because it will lead to higher costs and consumer resistance. That will not augur well for the USA.

The USA will continue to be a dominant world power as long as the majority of trade uses USD as currency for settlement.

Tall claims about taking over some territories should be discounted as election rhetoric.

The US economy, despite popular perception, is doing well, with average household income (even in the most backward area) still much above par with the rest of the world. With the new administration, one can expect business-friendly policies and a return to manufacturing.

It will be difficult to reduce bureaucracy as all policies require ground-level staff to implement. The USA, with its large size and federal structure, will make such reduction only ornamental.

A large deficit close to USD 35 trillion will not curtail any growth initiatives as the world still uses America as its investment and wealth destination.

Despite threats, it will neither be possible nor practicable to deport almost 10 million illegal immigrants out of the US due to procedural and logistic challenges. By rough estimate, the cost and time of that purge will be 1 trillion USD and will take more than 10 years for the current number.

White supremacy lobby will continue to flourish, and borders will see very strong protection to prevent illegal immigrants from entering the USA. Despite that America is likely to become a Hispanic state with so many migrants from Latin America.

Skilled labour will be there to stay as the big business will not be able to operate without them. Hence, despite all the shouting about work visas, they will stay.

9. Webinar on Recent Important Decisions under Income Tax held on Friday, 24th January, 2025 @ Virtual

The Taxation Committee of the Bombay Chartered Accountants’ Society organised a Webinar on Recent Important Decisions under Income Tax.

Adv. Devendra Jain delivered an in-depth presentation on reassessment proceedings. He explained the evolving judicial perspective on reassessment, especially in light of recent amendments and rulings by the Supreme Court and the High Courts. His session provided clarity on the crucial points to be considered while representing matters on reassessment cases.

Adv. Ajay Singh began the session by providing a detailed analysis of key judicial decisions that have significant implications for the interpretation and application of Income tax laws. He highlighted the judgments relating to capital gains, gift tax under section 56(2)(x), reduction of share capital, Condonation of delay in filing forms, interest on IT refund, penalty provisions and share transactions, focusing on their impact on taxpayers and professionals alike. He emphasised the importance of understanding these rulings to develop better compliance and advisory strategies.

The session provided participants with a comprehensive understanding of recent developments in Income tax law and practical insights to navigate legal complexities.

Youtube Link: https://www.youtube.com/watch?v=FlL13OSdCOw

10. 25th Silver Jubilee Course on Double Taxation Avoidance Agreements held from Monday, 2nd December, 2024, to Tuesday, 21st January, 2025 @ Zoom.

The Society successfully conducted its 25th Silver Jubilee Study Course on ‘Double Taxation Avoidance Agreement’ via an online platform spanning from 2nd December, 2024 to 21st January, 2025.

Based on participants’ feedback and consultation with seniors in the Committee, for this 25th Silver Jubilee Course on Double Taxation Avoidance Agreements, BCAS has come up with a unique concept of sharing the recordings of the 24th DTAA Course undertaken in December 2023 as an option to the participants followed by multiple panel discussions. One introductory session on “Overview of International Taxation & DTAAs” and ten panel discussion sessions were planned to take forward the learnings by discussing the intricate and practical issues on the topics of International Taxation, making the course more interactive. Participants were also provided an option to share the queries or issues to the panellists by way of Google form before the respective panel discussion. Eminent tax professionals of the country were the panellists as well as moderators for the series of panel discussions.

All sessions of the course, including last year’s recorded sessions, covered all articles of DTAA, an overview of FEMA / BEPS / MLI / GAAR, Transfer Pricing, Source Rules under the Income Tax Act, 1961, TDS under section 195, Substance v/s Form, and other relevant provisions. The course included complex topics such as Taxation of Specific Structures (e.g., Partnership, Triangular Cases, AOP, etc.) and Selection of Structures.

More than 200 Participants from 15 states spread over 30 cities attended the course which was well-received and appreciated by the participants.

11. Revolutionising CA Practice with Generative AI: Practical Use Cases for Efficiency and Growth held on Thursday, 9th January, 2025 @ Virtual

CA Rahul Bajaj recently led an insightful 2-hour webinar, “Revolutionising CA Practice with Generative AI: Practical Use Cases for Efficiency and Growth,” showcasing how AI can transform Chartered Accountancy practice. The session delved into real-life applications of Generative AI, highlighting its potential to enhance productivity, streamline operations, and improve client servicing. Participants learned how AI can be used to draft professional emails, generate legal documents, automate data entry in Tally, and prepare financial forecasts, all while saving time and reducing errors.

Key takeaways included using AI to create checklists, templates, and peer review documentation like Engagement and Appointment Letters. AI also supports the generation of client training materials, social media content, and even notices, helping firms stay engaged with clients while improving efficiency. By automating repetitive tasks such as bank statement analysis, CAs can focus more on strategic activities, boosting overall productivity.

The session concluded with CA Rahul Bajaj emphasising the importance of integrating AI into CA practices for long-term growth. With tools that enhance accuracy and decision-making, AI is positioning itself as a game-changer, enabling Chartered Accountants to provide higher-value services and streamline their operations for greater success in an increasingly digital world.

The excellent response that the webinar got in terms of enrolment from across various cities of India and from persons of various age groups, as well as the feedback received at the end of the webinar, is testimony to the growing importance and popularity of AI in the CA fraternity.

12. BCAS Turf Cricket Tournament 2025 held on Sunday, 5th January, 2025 @ Andheri Sports Complex, Azad Nagar, Andheri West

The BCAS Turf Cricket Tournament 2025 held on 5th January 2025 at Andheri Sports Complex, was a resounding success, hosting 12 men’s and 2 women’s teams in a thrilling display of sportsmanship and camaraderie.

The tournament was exclusively for CA Members, Students, and BCAS Staff was well received with overwhelming participation.

The format in Men’s category was of four groups of three teams each, which formed the league stages followed by knockout rounds of Quarter-finals (8 teams), Semi-finals (4 teams) and the Finals. The 12 Men’s teams that competed in the Tournament were Bansi Jain Warriors, Bathiya Bravehearts, BYA Titans, CNK Super Strikers, G&S Gladiators, Kirtane & Pandit Maestros, KNAV Smashers, MAS Mavericks, MCS Super Kings, MGB Yoddhas, NPV Challengers and TeaMPC whereas the 2 Women’s teams were NPV Thunderbirds and BCAS Queens.

The tournament was filled with exciting matches, impressive individual performances, fun-filled live commentary and enthusiastic support from the spectators. The 8 teams that qualified for the Men’s quarterfinals were MAS Mavericks, Kirtane & Pandit Maestros, CNK Super Strikers, MGB Yoddhas, G&S Gladiators, NPV Challengers, KNAV Smashers and Bathiya Bravehearts. The Semi Finals were then played between the 4 teams viz. Kirtane & Pandit Maestros vs. NPV Challengers and CNK Super Strikers vs Bathiya Bravehearts.

The day culminated in a nail-biting Men’s final between Bathiya Bravehearts vs Kirtane & Pandit Maestros, with the former emerging victorious whereas BCAS Queens emerged as winners in the Women’s category.

The tournament left a lasting impression on all participants and thus setting the stage for future editions of this exciting event.

13. BCAS Nxt Learning and Development Bootcamp on Idea to IPO: A Beginner’s Guide held on Saturday, 4th January, 2025 in hybrid mode

The Human Resource Development Committee of BCAS organised a BCAS NXT Learning & Development Bootcamp on “Idea to IPO: A Beginner’s Guide” on Saturday, 4th January, 2025. The session was led by Mr Aditya Rathod, a CA Final student, who delivered a comprehensive presentation on the fundamentals and key regulations governing IPO in India. His presentation covered a wide range of topics, including essential definitions, various IPO methods, and an overview of the IPO process and its approach. He also shared practical experiences to help beginner article students navigate the complexities of the IPO Listing Process.

CA Rimple Dedhia, the mentor for the session, provided valuable insights and guidance throughout, offering expert interventions as needed. The boot camp was held in person at the Mehta Chokshi & Shah LLP office and streamed online, with active participation from students across India.

Youtube Link: https://www.youtube.com/watch?v=-WYuPDeOJus&t

14. Series of Sessions on Standards on Auditing and Key Learnings from NFRA Orders held on Friday, 13th December, 2024 to Friday, 3rd January, 2025 @ Zoom

BCAS has always been a pioneer in equipping its members, in particular and other stakeholders at large with the knowledge in the arena of Accounting Standards, Ind AS and Standards on Auditing. The challenge of the auditor is to address the risks posed while providing assurance services within the regulatory framework of ICAI and NFRA. Compliance with Auditing Standards is of utmost importance while carrying out audits.

Considering these challenges that the auditor has to address while performing duties, the Accounting & Auditing Committee organised a well-designed series of virtual sessions covering Auditing standards and Key Learnings from NFRA orders, which should be kept in focus while executing audit assignments along with practical guidance. The Sessions were held on Fridays for 2 hours each, totalling 8 hours.

The main objective of designing this series of sessions was to delve deeply into the subjects affecting the audit fraternity and to provide a platform for the Members in Practice to come together and get the opportunity to have deep insights into the practical challenges which crop up while implementing the complicated standards.

Course Segments: 4 sessions of 2 hours each

The sessions were designed to give practical and case study-based insights to the participants on various topics.

The course was inaugurated with the opening remarks from the Chairman of the Accounting and Auditing Committee CA Abhay Mehta and the President of BCAS, CA Anand Bathiya, both underline the importance of knowledge sharing and the role of the BCAS in conducting such programs. To make the course effective, faculties with specialised knowledge and relevant experience were engaged to give participants practical insights and wholesome experiences.

The course started with the session of Ms Vidhi Sood Secretary, NFRA, where she updated the participants on various NFRA orders, practical examples and issues and learnings from the same.

The session of Audit Documentation SA 230 by CA Amit Majmudar broadly covered the areas pertaining to the Assembly of Audit Files, Key Audit Workpapers and guidance on ICAI Audit Documentation

The Session on SA 600 — Using the work of another auditor by CA Pankaj Tiwari mainly covered existing SA 600 & procedures adopted by the Auditor, various lapses highlighted by NFRA in the audit of CFS, Key elements of Circular issued by NFRA & potential challenges in implementation of the Circular.

The session on Planning Risk Assessment and Related Matters by CA Murtuza Vajihi broadly covered the scope, objective, and documentation of the standard along with practical examples of the standards and also reference to NFRA and QRB learnings on these standards.

The above sessions generated a lot of interactions between the participants and the respective faculties. The course commenced on 13th December, 2024, and ended on 3rd January, 2025. 111 participants attended the Course, and was well received with the overall feedback from the participants was very encouraging.

REPRESENTATIONS AND SOCIAL MEDIA

1. NFRA Representation: Addressing Duplication in Fraud Reporting for Statutory Auditors

BCAS has submitted a representation to the National Financial Reporting Authority (NFRA) regarding the fraud reporting requirements for statutory auditors of regulated entities. The representation highlights the need to eliminate the duplication of reporting to various authorities, aiming to streamline the process and simplify the regulatory framework for entities such as banks, insurance companies, and NBFCs. By reducing redundant reporting, the proposal seeks to create a more efficient and effective regulatory environment.

Readers can read the entire representation by link: https://bit.ly/NFRA-Representation

2. Union Budget 2025: 8th Consecutive Budget by FM Nirmala Sitharaman — BCAS’s Pre-Budget Memorandum Available Online.

As Finance Minister Nirmala Sitharaman presents her 8th consecutive Union Budget, BCAS continues its proactive role in representing the views of its members and the wider community. We are pleased to announce that BCAS has submitted the Pre-Budget Memorandum for the Finance Act 2025-26 to the Union Minister of Finance and the Ministry of Finance, Government of India.

Readers can read the entire representation by link: https://bit.ly/Pre-Budget-Memorandum-2025-26

3. BCAS Reimagine Conference: Exclusive Videos Now on YouTube, with Thousands of Views!

BCAS hosted the ReImagine Conference, a three-day event in January 2024 that explored progressive topics crucial to the professional landscape. With an overwhelming response, the discussions held the potential to shape the future trajectory of our profession.

In line with BCAS’s mission of knowledge dissemination for professional development, the event videos are now available on YouTube, completely free of charge. Featuring a wide range of topics presented by industry experts and professional stalwarts, these videos offer valuable insights for professionals at all levels.

Playlist Titles:

1. Reimagine India – Keynote Address by Padma Bhushan Shri Kumar Mangalam Birla

2. Digital Infrastructure – A Game Changer

3. Reimagine the new age professional firms

4. CFO Round Table – Technology, Innovation and Sustainability

5. Use of AI / Tech-Data as Evidence in Tax Cases – Direct Tax and Indirect Tax

6. Reimagine India’s Capital Market Landscape

7. Changing Corporate Landscape – Professional opportunities

8. The Victorious – A Model for Leadership

9. New Age Wars – Future of the World – Role of Professional

10. One World – One tax – VasudhaivaKutumbakam

11. Ride the Capital Market – Take the Bull by its Horns

12. The Future of Audit Profession

13. One Giant Leap – Start-ups – Importance of Professionals in Start up Journey

14. Interchanging Roles – Practice to CFO, CFO to Practice, CA to Nation Building

15. Reimagine – Closing Ceremony & Vote of Thanks

YouTube link: https://bit.ly/Reimagine-Conference

4. BCAS YouTube Channel Hits 1 Million Views

The BCAS YouTube channel has reached a significant milestone, surpassing 1 million views. Over the years, it has evolved into a valuable resource, offering a wealth of professional content and knowledge. With an expanding collection of open-for-all sessions, the channel continues to serve as a hub for valuable learning. Members who have not yet subscribed are encouraged to do so and stay updated with the latest content.

Youtube Link: https://www.youtube.com/channel/UC3cxrmOi8hRA31LxBEXGpUQ

5. Interactive meeting of managing Committee Members with Dr Harish Mehta and Mr Rajiv Vaishnav

Dr Harish Mehta and Mr Rajiv Vaishnav were invited to interact and share their experience of building and successfully running the NPO with the BCAS Managing Committee members on 8th January, 2025.

Dr Harish Mehta is a founder member and former Chairman of NASSCOM and Rajiv Vaishnav is former President of NASSCOM. They shared experience in building brands, nurturing teams, and growing organizations. During the interaction, Dr. Harish Mehta and Mr. Rajiv Vaishnav appreciated the work done by BCAS and emphasised the importance of valuing volunteers, building trust, and promoting unity, especially during challenging times. They also advised that before making representations to government authorities, it’s essential to gather collective opinions from members.

Dr Mehta autographed copies of his book, “Maverick Effect: The Inside Story of India’s IT Revolution”, for the committee members.

BCAS IN NEWS

Link: https://bcasonline.org/bcas-in-news/

BCAJ Admin

LEARNING EVENTS AT BCAS

1. The webinar on “The (AI)mazing Future of CA Services: Guide to AI & Chat GPT Implementation” conducted by the Technology Initiatives Committee was held on 17th February, 2024, in Online Mode.

The webinar was conducted to provide Chartered Accountants and their teams with invaluable insights into the successful integration of AI in accounting, data analysis, auditing and more.

It began with CA Dungarchand C Jain explaining to the participants the features of ChatGPT — how it works, comparative analysis of GPT-3.5 (free) and GPT-4 (paid) versions, etc. He also explained the limitations of ChatGPT, how to write prompts and additional plugins. The live demonstration of queries posted to ChatGPT and how it could be used for day-to-day operations by a CA firm was well appreciated by the participants.

In the second part, CA Nikunj Shah explained the use of ChatGPT for data analysis, including, trend identification, and anomaly detection, to derive actionable insights from financial data. He further emphasised that AI-driven audit technologies can automate compliance checks, identify potential risks and enhance the accuracy and reliability of audit procedures.

Both the speakers are members of the Technology Initiatives Committee.

The webinar had 235+ participants from more than 40 cities. The webinar ended with a well-deserved vote of thanks to the speakers and all the participants.

2. The workshop on “GST Skilling up – Writing, Responding and Representing” was held on 9th and 16th February, 2024 @ BCAS.

An impressive two-and-a-half-day physical workshop with faculties CA Raman Jokhakar and CA Tejal Mehta was designed to provide practical experience in drafting and representation skills. There were about 35 participants.

The speakers explained how to draft letters / replies / emails in short without using long sentences and being repetitive and using plain and simple language so that what is desired to be conveyed is properly conveyed. They also explained to the participants the dos and don’ts of appearing before a Revenue Officer and how to make their representation impactful.

It also included a mock Role Play where the participants were required to prepare a reply to a Show Cause Notice / ASMT-10 notice and represent their case before a Revenue Officer. At the end of this, the mistakes or shortcomings in their drafting / representation were explained, and how best they could have been avoided.

The participants were issued a Certificate for participating in the workshop.

The faculties were ably supported by CA Vikram Mehta and Shannel Jacinto.

3. Indirect Tax Study Circle Meeting on “GST Case Studies on Place of Supply” was held on 15th February, 2024, in Online Mode.

Group leader CA Rishabh Mishra dealt with the case studies and gave a presentation covering various issues and challenges faced by taxpayers in regard to the Place of Supply under the GST law and was guided by Group Mentor CA Jigar Doshi. The case studies covered the following aspects for a detailed discussion on the place of supply:

• Separate contracts for the supply of materials and supply of allied services like transportation, insurance, etc., including issues due to cross-fall breach clauses.
• Testing services in relation to goods sent to India by overseas entities with options of sending the goods back or kept in India. Testing of pre-designed software for holding co. was also discussed.
• Services of soliciting subscribers to the issue of securities by overseas managers for Indian entities.
• Place of supply in relation to immovable property in India to a service recipient outside India for the development of 3D models.
• Turnkey project for design, development, construction, supply, and installation of plant, machines, solar power, packing lines, residential quarters, canteen, guest house, etc.
• Services of conducting a market survey, assistance in marketing events, advertising policy, appointment of distributors, etc., on cost-plus basis by an Indian Subsidiary to a Foreign Holding company.
• Works contract services provided by an Indian entity to a foreign entity in a foreign land through outsourcing to another Indian entity with the foreign branch.

4. Felicitation of Young CAs of November 2023 Examination & Fireside Chat on the topic “Get Future Ready” was held on 20th January, 2024, at the BCAS Hall by the Seminar, Public Relations & Membership Development (SPR&MD) Committee.

A special event was organised for the freshly qualified Chartered Accountants of the November 2023 examination under the aegis of the Seminar, Public Relations & Membership Development (SPR&MD) Committee. The event attracted a full house of 150 participants.

The evening commenced with the esteemed speakers addressing the young champions on the subject, ‘Get Future Ready’. The first speaker, Past President of the BCAS, CA Ameet Patel candidly shared his views on a wide range of subjects — how to find the right fit in the initial years, the steps one can take to build on and solidify one’s repertoire, how it’s ok to change tracks if things are not working out, the very critical role that BCAS can play in shaping one’s future, and the importance of networking, developing a hobby, cultivating a passion, etc.

The second speaker, Ms. Dipika Singh spoke about the significance of investing in oneself, owning the room, projecting the right body language, radiating confidence, creating interesting content and posting it on the right platforms, getting noticed in a crowd and creating and nurturing a brand within oneself.

This was then followed by an interesting round of floor questions for both speakers. The evening ended with the felicitation ceremony. Labdhi Sanghvi securing All India Rank 47 was the first to be felicitated and was then invited to share his thoughts. The event showcased the vibrancy of the participants, many of whom showed great interest in signing up to be members of the BCAS.

Link to access the session: https://www.youtube.com/watch?v=U4jUpZ0X4OY&t=870s

5. Full Day Seminar on “Charitable Trusts – A Tax, Regulatory & Management Perspective” held on Friday, 19th January, 2024 @ BCAS

The successful full-day event commenced with a compelling keynote address by Shri C V Pavana Kumar, CIT (Exemptions) Mumbai, setting the tone for the day by addressing the pivotal role of Charitable Trusts in India in societal development, the Department’s technology and tax initiatives, the relevance and context of the recent changes in the tax regime relating to Charitable Trusts, and the importance of navigating the associated challenges by learned professionals and assessee.

It was followed by a power-packed Panel Discussion by CA Anil Sathe, and Mr. Noshir Dadrawala, CA (Dr.) Gautam Shah, moderated by CA Gaurav Save. The session not only provided a practical approach to the Litigation issues regarding Charitable / religious Trusts, but also provided a comprehensive overview of common errors encountered in ITR-7 filings and shed light on challenges pertaining to sections 10B, 10BB and FCRA compliance.

Thereafter, CA Suresh Kejriwal took the participants through the recent amendments to the Foreign Contribution Regulations Act, posing additional cautious compliance responsibilities.

CA (Dr.) Gautam Shah enlightened the gathering about the procedural requirements under the Maharashtra Public Charitable Trusts law and also talked about patiently dealing with the Charity Commissioner’s office.

The participants also benefitted from a comprehensive presentation on the emerging concept of Social Stock Exchange by Mr. Hemant Gupta. He discussed the nitty-gritty, emphasising how this platform can be a game-changer for charitable organizations, providing a new dimension to fundraising and visibility.

The same was followed by an enriching session by Mr. Noshir Dadrawala on Corporate Social Responsibility (CSR) compliance. He coined the mantra “Comply Strictly (by) Rules”, emphasising compliance with CSR provisions and highlighting the far-reaching implications of non-compliance.

The event concluded with an informative presentation by CA Deven B Shah on the maintenance of Books of Accounts by Charitable Organizations in accordance with Rule 17AA of Income Tax Rules, well-equipping the participants with the vital, differentiating aspects thereof.

Each session suitably dealt with and addressed the queries of the participants.

This event was a collaborative effort to empower the charitable sector, offering a holistic perspective on navigating the legal, tax and management intricacies associated with Charitable Organizations in India. We extend our gratitude to all participants, speakers and organizers for contributing to the success of this enriching and informative day.

6. Corporate & Commercial Law Study Circle Meeting “SBO and Demat of securities – Need of the hour” was held on 16th January, 2024, in Online Mode.

Speaker CS Sudhakar Saraswatula addressed the participants on the provisions relating to Significant Beneficial Ownership, as have been notified for Limited Liability Partnerships. He further discussed the inception and rationale behind the SBO provisions and the compliance requirements thereof. Certain challenges faced in the implementation of SBO provisions and its practical approach were also shared.

The discussion further shaped to how private companies other than small companies are also now mandated with the compulsory dematerialisation of securities within the given time frame, along with other related matters such as the holding of securities by the promoters of / issue of securities by unlisted public companies, conversion of share warrants held in physical form, action points for demat of securities by private companies as well as security holders and penal provisions for non-compliance.

7. आDaan-प्रDaan (Season 3) — “Speed mentoring program for Chartered Accountants” was held by the Seminar, Public Relations & Membership Development (SPR&MD) Committee in Online Mode.

Conducted during November and December, the program provided a platform for invaluable guidance and support from 25 mentors, where an impressive 28 mentees engaged in the first round of season 3 — with 17 hailing from 10 different states across India, showcasing the program’s ability to transcend geographical boundaries and empower CAs nationwide.

Throughout the sessions, mentees delved into various aspects of professional life, seeking insights on practice management, people management, growth strategies, guidance for changing careers, essential skill acquisitions, etc. Mentors, drawn from a rich tapestry of practicing Chartered Accountants and industry stalwarts, offered guidance tailored to the mentees’ aspirations and challenges, enabling mentees to navigate critical decision points with confidence and clarity.

The heartwarming display of gratitude through generous donations to the BCAS Foundation by the mentees exemplified the tradition of Guru Dakshina, reinforcing the bond between mentors and mentees in the CA community.

With heartfelt appreciation extended to all participants and mentors, the ‘आDaan-प्रDaan’ initiative continues to pave the way for growth, excellence and collaboration within the profession. The Committee is planning to conduct the second round of season 3 shortly.

BCAJ Admin

Human Development Study Circle Meeting on
“Business Environment in India – Evolution, Opportunities, Challenges” held on
10^th January, 2017

Human Development and Technology Initiatives Committee  (HDTI) of BCAS conducted a Human Development
Study Circle Meeting on “Business Environment in India – Evolution,
Opportunities, and Challenges” on 10^th January, 2017 at BCAS
Conference Hall. 

Dr. Anil Naik, a Management Consultant, MBA from IIM Calcutta
and winner of many prestigious awards, having wide experience in Industry and
also visiting faculty at top Management Institutes in India and Abroad, gave
the presentation and covered the following topics- .

1.  Evolution of Business Environment in India
since 1991.

2.  Challenges of the Indian businesses to be seen
for :

• Family Owned & Family Managed Businesses

• Family Owned Professionally Managed Businesses

• Corporate Sector consisting of Indian
Companies, Foreign Companies operating in India and Collaborations of Indian
& Foreign Companies.

3.  He also cited the examples of companies
operating in India like Tata Motors, Kodak, Shapoorji Pallonji, Ballarpur
Industries and Kirloskar, etc.

The major basic issues discussed were:

·        
Major changes in Transportation Industry and
many others.

·        
Factors for success i.e. Adaptability to new
technology, Personality Skills, Pursuing Aspirations etc.

·     Stark realities of dynamic environment – No more
secrets, security is uncertain, Allegiance, Time is short – we need to run fast
to take up right opportunities at right time at great speed, Order of today’s
time is not clear – international business, supremacy of product plays vital
role.

·    India has 16 cultures. Cultural Differences.
Internal Culture of the organisation matters. Asian culture v Globalised
scenario. Adopting right mix of culture is challenge of today’s times.

·        
Business environment is Dynamic, turbulent and
unstable. How to become flexible. Opportunities for organic flexibility,
adaptability, innovation, accepting change and uncertainty are natural state of
things in the current environment.

·        
Ensure that institutions have capacity to serve.
Employees’ skills, motivation and capabilities play an important role.

Inescapable reality of new economy – 1) Seek and create
breakthrough changes. 2) Outsiders see it first 3) Right balance between
incremental improvement and radical innovation 3) Shortage of resources is not
necessarily serious, but shortage of imagination is certainly fatal 4) Nothing
lasts forever under its original momentum 5) Success contains the seed of its
own destruction 6) Primary challenge of leadership today is to create adaptive
organisation which has a built in capability to renew itself over and over
again.

The meeting was very fruitful and the participants benefitted
a lot from the Speaker’s rich experience.

Workshop on Merger & Acquisition held on 27th & 28th
January 2017

Corporate & Allied Laws Committee [‘C&ALC’] organised
a two days’ Workshop on Mergers & Acquisition at Hotel St. Regis, Lower
Parel, Mumbai. The event received an overwhelming response.

86 participants attended the workshop out of which almost 30
participants were from industry. Further, around 32 were outstation
Participants from cities like Ahmedabad, Vadodara, Hyderabad, Chennai and
Nagpur.

CA. Chetan Shah, President, welcomed the participants. CA.
Kanu S. Chokshi, Chairman of C&ALC gave a brief idea on the necessity of
such programme.

The Workshop was inaugurated by Dr. Lalit Kanodia, Chairman,
Datamatics Group. Eminent faculties addressed the participants on the relevant
topics along with their presentations. A 
booklet of the presentations made by various speakers at the workshop was
provided to the participants.  The event
was conceptualised by CA. Naushad Panjwani, Past President of BCAS, with the
help of Dr. Anup Shah. CA. Naushad Panjwani also shared his thoughts on certain
mergers at the said workshop. Advocate Praveen Veera chaired the session on
‘Stamp duty’ and CA. Shrenik Baid shared the dais along with CA. Kanu S.
Chokshi during the session on ‘Accounting Implications’.

The sessions of the said workshop on Merger & Acquisition
are summarised below:

Session I: Keynote Address – “Key negotiating
techniques used by buyers and sellers in a Merger & Acquisition
transaction” by Dr.Lalit Kanodia – Chairman, Datamatics Group.

Dr. Lalit Kanodia

He inaugurated the workshop and shared his practical
experiences in Merger and acquisition.

Session II: Alternative Disputes Resolution in
Merger & Acquisition by CA. Suresh Kotak –Chairman, Kotak Group.

CA. Suresh Kotak

He addressed the participants.& talked about steps taken
in area of ADR

Session III: Stamp Duty by Dr. Anup Shah, CA.
Pravin P. Shah & Co.

CA. Anup P. Shah

He covered various implications of  stamp duty under different modes of mergers
& acquisition. He also analysed stamp duty on CD, Debentures, Gift etc.

Session IV: Companies Act & Bankruptcy Law by
Adv. Sharad Abhyankar – Sr. Partner, Khaitan & Co. 

Adv. Sharad Abhyankar

He analysed
transaction charges, some of the procedural aspects and gave a mapping in
Merger & Acquisition. He also gave an overview of Insolvency and bankruptcy
code in relation to Merger & Acquisition.

Session V: SEBI Takeover Regulations by Adv. Akil Hirani –
Managing Partner, Majumdar & Co.

Adv. Akil Hirani

He took the participants through takeover code and insider
trading regulations with respect to, an open offer, in case of Merger &
Acquisition.

Session VI: Legal Due Diligence by Adv. Tushar Ajinkya.

Adv.Tushar Ajinkya

He highlighted the Due Diligence aspects with the typical
structure requirement, key areas to be checked, IPR and litigation issues.

Session VII: Financial due Diligence by CA. Rajesh
Khairajani – KNAV.

CA. Rajesh Khairajani

He touched upon various facets of financial due diligence on
both, buyer and seller side, inter alia, emphasising upon physical verification
of assets in  Merger & Acquisition
deal.

Session VIII: FEMA & Cross Border by CA. T. P. Ostwal,
T. P. Ostwal & Associates.

CA.T. P. Ostwal

He explained salient
features of various treaties of India & Mauritius /Cyprus/Switzerland; and
choice of jurisdiction. He also took 
participants through Automatic route vis-à-vis Approval route;

Session IX: Strategy & Value Creation by
Mr. Sudhir Valia – Executive Director, Sun Pharma.

Mr. Sudhir Valia

He shared his rich experience  in guiding participants as to how to proceed
for Merger & Acquisition.

Session X: Income Tax-Domestic/ International (in case of
cross border) by
CA. Hiten Kotak & CA. Falguni Shah.

The speakers explained the funding structures – Key
consideration, recapitalisation and repatriation and indirect transfer and tax
thereon with practical examples.

Session XI: Accounting
Implications by CA. Himanshu Kishnadwala, CNK & Associates.

CA. Himanshu Kishnadwala

He gave an overview of provisions relating to M & A
contained in Companies Act 2013 and SEBI Regulations. He also dealt with the
applicability of Accounting Standard and Ind AS to Merger & Acquisition and
explained Accounting in Merger & Acquisition with an illustration.

Session XII: A typical Merger & Acquisition
process by CA. Sridhar Swamy.

CA. Sridhar Swamy

He explained the nitty-gritty of the Merger & Acquisition
process including identification and understanding buyer, process documents and
presentation to the Management. He also briefly explained legal documentation
in Merger & Acquisition.

Session XIII: Post Merger Integration by CA. Mitil
Chokshi.

CA. Mitil Chokshi

He drew attention of the participants to the difficulties
faced in integration Post Merger, some of the important factors peculiar to
each industry which could result in a possible threat to success of a Merger
& Acquisition deal. He also shared his experience regarding solution on
some of difficulties in Merger & Acquisition deals handled by him.

CA. Manish Reshamawala, Convener, with his untiring efforts
coordinated the programme with the support of CA. Preeti Oza, Convener. The
participants benefitted from the rich experience of the Speakers.

Experts chat @ bcas on “Internal audit 2017: global trends
and outlook” held on 30th January, 2017

An experts chat on “Internal Audit: Global Trends and
Outlook” was held at the BCAS Conference Hall on 30^th January, 2017.

The program commenced with the signing of a Memorandum of
Understanding (MOU) between BCAS and the Institute of Internal Auditors –
Bombay Chapter (IIABC). This MOU will enable BCAS and IIABC to jointly
collaborate and develop mutually beneficial programs in the field of internal
audit, projects and activities for its members in the field of internal audit,
as well as to offer members of both parties to attend programs of each other.

President CA. Chetan Shah,
on behalf of BCAS and President CA. Sunil Gaitonde, on behalf of the Institute
of Internal Auditors – Bombay Chapter (IIABC) did the honours.

President CA. Chetan Shah then welcomed Mr. Richard F.
Chambers, the President and Chief Executive Officer of The Institute of
Internal Auditors (IIA), the global professional association and
standard-setting body for internal auditors. The IIA serves more than 1, 85,000
members in over 170 countries and territories and is the internal audit
profession’s most widely recognised advocate, educator, and provider of
standards, guidance, and certifications.

L to R : Mr. Richard F. Chambers in the fireside chat with CA. Nandita Parekh

Mr. Chambers made a detailed presentation on the emerging
trends in internal audit, more particularly, the reporting structure, critical
focus areas, need to understand the audit culture of the organisation,
cyberspace audit, audit of big data. His talk was generously interspersed with
interesting statistics and results of survey done by Internal Audit Foundation,
across various continents and organisations.

Mr. Chambers shared a list of five strategies for every
internal auditor to equip himself with:

·        
Respond to the voice of the customer

·        
Strive for agility

·        
Transform your talents

·        
Revolutionise your processes

·        
Elevate your image’

Mr. Chambers’ presentation was followed by an engaging
fireside chat, which was moderated by CA Nandita Parekh, a senior member of the
Core group with expertise in the area of internal audit.

Mr. Chambers candidly answered questions on matters including
how to earn a seat at the (management) table, need for an internal auditor to
adjust the sails (i.e. the audit scope) to steer through the external and
internal changes, etc.

Questions posed by participants were also answered by Mr.
Chambers.  

The event witnessed an impressive turnout and was also
available for viewing through live streaming. The live streaming facility was
made available to members of IIA and IIABC.

“Public Lecture Meeting on Direct Tax Provisions of the
Finance Bill 2017” held on 7^th February, 2017

The 52^nd Lecture Meeting of the Society on the
Direct Tax Provisions of the Finance Bill 2017 by Senior Advocate Shri S.E.
Dastur was held at Yogi Sabhagruha, Dadar. This was 29^th consecutive
year of address by Shri. S. E. Dastur.

Mr. S. E. Dastur (Speaker)

The lecture meeting was streamed live and was witnessed by
more than 15,000 persons including online viewers. President CA. Chetan Shah
welcomed and introduced the speaker Shri S. E. Dastur citing that his
intellectual charm is what makes this session special. He Shah also touched
upon the concept of liberalisation and digital revolution.

Shri Dastur started his speech by detailing the memories of
the previous budgets since 1948-49. He talked about the Finance Minister’s
speech having laid emphasis on the digital economy. He discussed the various
new insertions in areas of capital gains, changes in assessment and
reassessment procedures. He also explained the concept of primary and secondary
adjustment under transfer pricing.

After covering all significant provisions the eminent speaker
dealt with other amendments. He also covered provisions under the Companies Act
and Accounting Standards, the taxability of carbon credits. He commented on the
amendments to the Search provisions under section 132.

The audience was spell bound by his speech. His lucid
analysis of the provisions benefitted all those who witnessed his presentation.
The meeting ended with a huge round of applause and appreciation by the
participants.

FEMA Study Circle Meeting held on 8^th February,
2017

FEMA Study Circle Meeting was held on the topic of
“Investment by Foreign Venture Capital Investor (FVCI) and in Real Estate
Investment Trust (REIT)” on 8^th February, 2017 at BCAS Conference
Hall. The meeting was chaired by CA Shabbir Motorwala and led by CA Amit Dhoot,
CA. Monica Wadhwa and CA. Rashmi Shetty. It was great to have such
knowledgeable bench of leaders.

The speakers took participants not only through important
FEMA provisions applicable to Investment by FVCI and REIT but also issues
related to structuring, SEBI registration, important conditions etc.
which gave participants a 360 degree perspective of the subject. They also
explained the advantage of FVCI over FDI.

For investment in REIT, the speaker explained the challenges
why REIT is not yet picking up pace in India and how can India learn from other
countries.

The chairman shared his practical experience which was an
icing on the cake!

CPR workshop with medical camp held on 11th February, 2017

CPR (Cardio Pulmonary Resuscitation) training workshop with
medical camp was held jointly with Asian Heart Institute ( which stood as the
‘India’s Best Private Cardiac Hospital’ for two years in a row) on 11th
February, 2017 at BCAS conference Hall. Around 65 participants including members
and their families availed benefit of the workshop. The medical camp covered
the health checkup for random blood sugar, blood pressure, ECG and consultation
by doctor from Asian Heart Institute.

Participants in the CPR Workshop

The doctors conducted CPR workshop for the participants
enrolled and provided practical training for CPR in case of medical emergency
arising out of cardiac arrest which was very useful for understanding the
subject.

The doctors involved in the workshop were experts in their
field which helped in conducting the workshop successfully.

Report on Three Days 7^th Residential Study Course
(RSC) on IndAS held on 16^th -18^th February, 2017

IndAS is being implemented in India in phases. FY 2016-17 is
the first year of applicability for phase I companies with comparatives for FY
2015-16. Several challenges are being faced by companies in this implementation
effort, more particularly on fair value, financial instruments, business
combinations and so on.

BCAS has always been in the forefront to assist professionals
to face challenges and be equip them to implement such changes. The 7^th
BCAS IndAS Residential Study Course was planned by the Accounting and Auditing
Committee to address the implementation challenges being faced as well as to
impart knowledge of implementing IndAS to the professionals to have a smooth
transition for the corporate sector.

The RSC was organised from 16^th to 18^th
February, 2017 at Ras Resorts, Silvassa. This year’s RSC was structured with
three sessions based on case studies prepared by three eminent professionals
covering different aspects of IndAS implementation. These case studies based
papers involved group discussions through three groups formed amongst the
participants, led by knowledgeable group leaders. There were two more papers
for presentation by eminent faculty which were on other accounting standards
applicable to corporate and non-corporate entities viz. Accounting Standards
for non-IndAS companies and ICDS vs. IndAS. Another unique feature of this
year’s RSC was a Panel Discussion on Ind AS 109 – Financial Instruments –
Implementation Issues.

Immediately after the reporting of the delegates in the
morning, there was a group discussion on the first paper by CA. Arvind Daga on
“Case Studies on Business Combinations/Consolidation”. The case studies were
highlighting the various complexities involved in carrying out accounting for
business combinations and consolidation as well as the evaluation of the
relevant consolidation standard in specific circumstances.

CA. Arvind Daga

Later, post lunch, there was the inaugural session. The
session commenced with the inaugural address by the President of BCAS, CA.
Chetan Shah. He conveyed his satisfaction about the response received to the
course from all over India and was particularly happy to have a strong
participation from industry. Later, the Chairman of the Committee CA. Himanshu
Kishnadwala gave introductory remarks on the design and structure of the course
and the purpose of selection of the topics for group discussion as well as
presentation and panel discussion.

CA. Paresh Clerk

Immediately after the inaugural session, there was the
presentation on the first paper by CA. Arvind Daga, who aptly dealt with the
case studies and also covered the issues raised during the group discussion in
very immaculate manner. Thereafter, CA. Paresh Clerk took the participants
through a Presentation paper on “Accounting Standards for Non-IndAS Companies”,
where he dealt with the major changes in some of the standards to bring them
ont par with IndAS for recognition and measurement.

CA. Anand Subramanian

Second day started with group discussion on paper by  CA. Anand Subramanian on “Case Studies on
Real Estate/Infrastructure Companies”. The case studies highlighted the
intricate issues arising from Service Concession Arrangements as well as
Construction Contracts which is of utmost importance for recognition of revenue
for such companies. Later, he, made a presentation on his paper and shared his
vast experience, which was of immense value to the participants.

CA. Sudhir Soni

Post lunch there was group discussion on paper by CA. Sudhir
Soni on “Case Studies on Revenue Recognition – Impact on Different Sectors”.
The case studies dealt with typical situations in retail and pharma sectors and
also some other related issues.

During the evening at the request of BCAS, the newly elected
President of ICAI, CA. Nilesh Vikamsey addressed the participants’ through
skype, as,  though he would have wished
to, time constraints did not make it feasible for him to be physically present.
The three way Skype call wherein CA. Nilesh Vikamsey, President of BCAS CA.
Chetan Shah and the participants participated live was the first such effort by
BCAS. CA. Chetan Shah welcomed CA. Nilesh Vikamsey and CA. Himanshu Kishnadwala
also updated him about the conference. Later, CA. Nilesh Vikamsey addressed the
participants and briefed them about some IndAS implementation issues and how
ICAI is addressing them.

He also updated the participants regarding the efforts of
ICAI to be partners in nation building and also commended BCAS for its
activities which are complementing the efforts of ICAI towards the profession.

In the evening, there was a brief and crisp presentation on
the case studies by CA. Sudhir Soni which also provided expert insights to the
case studies.

CA. Gautam B. Doshi

Last day commenced with a Presentation on “ICDS Vs IndAS” by
CA. Gautam Doshi. In his immaculate style he provided bird’s eye view of the
major differences between ICDS and IndAS. Though not included in the original
schedule, at the request of the organisers, he also dealt with the impact of
MAT on IndAS financials on the basis of the proposed amendments to Income Tax
Act as per Budget 2017 for corporate preparing IndAS financials for the FY
2016-17.

Last session was a unique one, introduced for the first time
in IndAS RSC, which was Panel discussion on “IndAS 109- Financial Instruments –
Implementation Issues”. The panelists were CA. Gautam Doshi and CA. Charanjit
Attra. The discussion was ably moderated by Ashutosh Pednekar. The session was
appreciated by many participants as the posers which were discussed were very
relevant for banking, finance as well as insurance companies.

The concluding session was presided over by CA. Himanshu
Kishnadwala and he acknowledged contribution of the faculty as well as active
participation of all for the success of the RSC. Some of the participants gave
their views on the course and conveyed their satisfaction at the format and
structure of the course.

Interactive Session with Students for Success in CA Exams
held on 18^th February, 2017

HDTI committee jointly with Rajasthan Vidhyarthi Gruh (RVG
Hostel) organised half day programme for students on 18^th February
2017 at RVG Hostel, Andheri. Joint Secretary Sunil Gabhawalla welcomed the
participants.

L to R: CA. Sunil Gabhawalla, CA. Mukesh Trivedi and CA. Srinivas Joshi

In the first session, CA. Srinivas Joshi discussed about ICAI
Exams with the help of PowerPoint presentation, which included expectation from
students’ and their performance. Being past Central Council member of ICAI, and
having vast first-hand experience as a Member of Examination committee, he
shared in detail, information with insights as to how ICAI exams are conducted,
how confidentiality and professionalism is maintained, what quality and level
of knowledge is expected from students, balanced, consistent and 100 percent
advance study, writing habit, group discussion, problems solving, overcoming
and controlling time wasters, etc. were important guidance factors.

He also guided students on various important topics viz. how
to study, prepare, plan and manage time before the exams, how to actually write
papers, how to ensure success while writing papers and many other important
issues. Students received his presentation very well. Many doubts and incorrect
impressions were cleared.

Second session commenced with personal experience and tips
shared by three successful CAs. Piyush Lohia, Chinmay Dharap and Harshal Gupta
passing with 2^nd, 5^th and 34^th rank
respectively in final exam of ICAI.

Young CA. Mudit Yadav, a success coach, TEDx speaker and a
motivator shared his personal journey from ordinary school and college career
to qualified CA effectively, with emotions and humour. He encouraged all students
to appear and prepare for CA exams with mindset, resolution and planning.

Convenor CA. Mukesh Trivedi proposed vote of thanks and CA.
Bharat Oza presented memento to the speaker.

Overwhelmingly satisfied and better guided, all Students
carried home clarity and insights with positive resolution to succeed in CA
exams.

About 70 students attended the programme.

BCAS joined hands as a knowledge partner with the Finance
and Investment Cell of Narsee Monjee College of Commerce and Economics for
their event “Insight Conclave 2017” held on the 18^th & 19^th
February 2017.

Insight Conclave 2017, NM College’s first ever business,
finance and economics meeting was held on 18^th and 19^th
of February 2017. Though it was the first year of the fest, it turned out to be
a huge success on account of its innovative events and outstanding speaker
sessions. BCAS joined hands as a knowledge partner for the Event.

The first day, 18^th February, started with
Parliamentary Debate, which was based on the format of the Asian Parliamentary
Debate.This was followed by the main highlight of the day, THE PANEL
DISCUSSION, which was covered by CNBC Awaaz’s show “Pehla Kadam” and anchored
by the host of the show himself, Mr. Anil Singhvi, a CA himself. As the day
progressed, various events based on the lines of Finance and Business like
Moneyball, Newton’s Cradle, Empire and Corporate Restructuring took place.
Alongside, a special session in association with BCAS was organised which was
very well hosted by CA. Ameet Patel, Chairman of Taxation Committee at BCAS.
Apart from this there were eminent speakers from various fields. CA. Vaibhav
Manek talked upon the future of the profession.

The participants was really excited about the event ‘Coffee
with Luminary’, where Mr. Ambareesh Murty, founder and CEO of the online
furniture retail company, Pepper fry and Mr. Mahesh Murthy, the founder of
Pinstorm were invited. The most awaited event THE YOUTUBER’S WAY, had Mr. Sahil
Shah, member of the very famous East India Comedy that was a great end to the
day one of the event.

The second day was amazing, with exciting personalities and
series of Conclave along with brainstorming events awaiting the students. The
events targeted various sectors like the event Airwars which was based on the
pricing strategy of the airline sector. Other than this, an event named
Gaflawas also hosted where the participants had to defend themselves and their
company from the false allegations made against them.The Business Conclave had various
interesting and engrossing segments of which Pioneering Professions was one. It
saw speakers like Mr. Trishneet Arora, CEO of TAC Securities, Mr. Dhruv
Sitwala, two times Asian Billiards Champion and Mr. Neil D’Silva, the global
storyteller. Other segments had the speaker’s discussion on Disruption-is it
the new normal? which was conducted by Mr. Nayan Shah, founder Mayfair Housing
& Jitendra Gupta, founder Citrus Pay.

BCAJ Admin