Chairman Communication

Perform your prescribed duty, for action is better than inaction. A man cannot even maintain his physical body without work. - Bhagavad Gita 3:8

While being self-explanatory, the shloka makes it crystal clear that actual, physical work performed in an attitude of duty is needed for one’s internal purification. Even the basic bodily activities like eating, bathing, and maintaining proper health require work. These obligatory actions are called nitya karm. To neglect these basic maintenance activities is not a sign of progress, but an indication of slothfulness, leading to emaciation and weakness of both body and mind. On the other hand, a cared for and nourished body is a positive adjunct on the road to spirituality. Thus, the state of inertia does not lend itself either to material or spiritual achievement. For the progress of our own soul, we should embrace the duties that help elevate and purify our mind and intellect.

Taking this forward, WIRC looks to ensure that members not only continue on this path but are encouraged to make progress by providing the right knowledge at the right time.

Aarohan - Maharashtra Sub Regional Conference

Hosted by the Akola and Amravati Branches of WIRC of ICAI, ‘Arohan - Rising Upwards’ was the first Sub-Regional Conference to be held at Shegaon. With almost 600 participants, this truly remarkable event witnessed stalwarts of the profession including past Presidents of ICAI conduct technical sessions on topics such as ‘Current Scenario of CA Practice – Global Opportunities and New Avenues’; Charitable trusts and Critical Issues in Capital Gains to name just a few.

We acknowledge and thank the efforts of the hosting Branches viz. Akola and Amravati Branches of WIRC and their Chairpersons comprising Akola Branch Chairperson CA. Seema Jalaj Baheti and Amravati Branch Chairman CA. Vishnukant Soni as well as Managing Committee Members and all the WIRC Branches of Maharashtra whose collaborative efforts towards participation and their support have been instrumental in making this conference a great success. I would also like to acknowledge efforts of CA. Jalaj Baheti without whose endeavours this conference would not have been possible.

Council Meeting in Goa

WIRC received a rare opportunity to host the Council Meeting which was held in WIRC at Goa. It was an inspiring experience to witness our esteemed council at work and their unwavering commitment towards the fraternity under the leadership of our President and Vice President.

Independence Day Celebrations

As always, with utmost pride we at WIRC marked our Independence Day by conducting our flag hoisting ceremony at ICAI Tower, BKC, in the presence of Chief Guest Mr. Vikas Dimri, Banker, Mountaineer and Ironman Triathlete and WIRC Office Bearers by hoisting the National Flag. Mr. Dimri is an inspirational personality who moved the audience with his experience of unfurling the Indian tricolour at the top of the World- Everest. This was followed by a tree plantation drive and ‘Swacchha Bharat Abhiyan’ wherein members contributed to increasing our green cover and keeping our surroundings clean.

Interactive Meetings

• Dr. Pramod Sawant, Chief Minister of Goa: This interactive meeting was highly relevant as the Hon’ble Chief Minister was apprised of the positive initiatives carried out by the Institute and our local members for the progress of the State.
• Hon’ble Shri Vasantkumarji Khandelwal, MLA, Maharashtra: Representing the Akola-Buldhana-Washim MLC seat, Shri Khandelwal was pleased to learn about the various activities carried out by WIRC to improve the profession for better services to clients as well as undertakings such as career counselling for students.
• Hon’ble Shri Gulab Raghunath Patil, Minister of Water Supply & Sanitation, Maharashtra: We were pleased to meet with the Minister and inform him of WIRC’s planned events to uplift the profession and the youth through education guidance for careers in accounting and finance.
• Smt. Shalini Agarwal, IAS, Surat Municipal Commissioner, Surat, Gujarat: We met with the Surat Municipal Commissioner and acquainted her with the role played by WIRC towards social and professional development in the Region. She was pleased to hear of our initiatives and encouraged us to continue with the same in the future as well.

Residential Refresher Course

• WIRC RRC at Keshav Srushti: The two day course focusing on GST brought members up to date with current judgments as well as provided insights into preparing for Appeals in GST and also Practice Management and Emerging Practice Areas for IDT Professionals.
• WIRC RRC at Treat Resorts, Silvassa: Focusing on RERA, IBC and in providing motivation to participants, this two day RRC provided knowledge in a holistic manner for all.
• Vapi Branch RRC at Pluz Resort, Silvassa: The RRC looked to enhance members’ professional & spiritual health. Members appreciated discussions on Income-tax & GST with spiritual sessions and presentations by CMP of ICAI to boost members’ practice.

RERA Compliances, Certification and Audit

The intensive, one day workshop on RERA Compliances, Certification and Audit took members across the critical factors which CAs need to implement and be aware about to enable smooth functioning of RERA processes. Hon’ble Shri Sanjay Deshmukh, IAS (Rtd.), Chief Consultant, Maharashtra Real Estate Regulatory Authority (MahaRERA) was Chief Guest on the occasion who also delivered the keynote address at this workshop. The workshop also focused on highlighting the various opportunities that CAs can access in this area and was the perfect platform for WIRC to release a booklet on form No. 3 and 5 of MahaRERA. The workshop was highly appreciated for its deep study and knowledge dissemination of the same.

WIRC Online Knowledge Initiatives

• Niryat Series: To give members on-ground knowledge of the taxation scenario in Dubai, as part of the ‘Niryat Series’, WIRC organised a Dubai focused event which highlighted the Dubai Corporate Tax scenario for members.
• WOW Series: The importance of the ‘Role of CA in ESG’ was discussed as well as the opportunities by and for the Women members of WIRC.
• MahaRERA: Many members have taken up the opportunities in this sector and to keep them updated this event clarified the ‘Compliances and updates to be done by Builders and Developers’ for better understanding of all.
• Relearn Series in Corporate Taxation: Keeping current is a vital aspect of excellent service and hence, WIRC organised the Relearn Series. The Direct Tax in Corporate Taxation session provided a well-rounded update of Corporate Taxation, the differences in the Regimes, MAT as well as various features such as S.28 (iv), Deduction U/S 37, Disallowances U/S 40, etc.; Income Computation & Disclosures Standards - Applicability, Comparison with Accounting Standards & Practical Approach which ensured that all members were brought up to date with the latest knowledge on this subject.
• Friday Fundas: This initiative to create a virtual learning space for the whole Region saw two interactions last month. The first session focused on ‘Exploring Derivatives for Consistent Income’ highlighting new avenues for wealth and income while the second session was on different ways to consider ‘Employee Benefit Valuations’ covering valuations of types of loyalty points, ‘Impact of Social Security Code on Gratuity’ and also ‘Provident Fund’.  

Tech Edge Series

• Knowledge Management using Generative AI: To provide members an authentic insight regarding the claims of the many AI apps and software currently in the market, this session was organised to answer their queries and provide a clearer picture of Generative AI and its uses.
• Workshop on Tally: This workshop updated members on new features in Tally to enable members audit faster, generate GST Returns & Reconciliations faster via live case studies.
• Practice Management Software (PMS) for CA practitioners & CA firms: Features of PMS and process flow to register, implement and development of the PMS were highlighted to members for better and faster functioning.
• Workshop on Accounting & Automation: We organised this two day workshop on accounting and relevant automation to assist members function at higher levels of efficiency and speed.
• Workshop on Artificial Intelligence: To provide members an edge, this workshop on AI highlighted the use of AI applications, its benefits as well as how to build basic AI applications without programming, which members found very useful.
• Workshop on Forensic Accounting: To fulfil the growing demand and empower CAs to provide better services in this sunrise arena, this workshop highlighted methodologies of gathering & evaluating evidence, role of CAs in prevention, detection and investigation of frauds, etc., as well as discussions on case studies for practical understanding of forensic accounting.

Seminar on the Maharashtra Settlement of Arrears of Tax, Interest and Penalty or Late Fee Act 2023

WIRC initiated this reach out program with GST Department by hosting a seminar organised by Joint Commissioner, GST Department, Nodal 12, Mumbai on ‘The Maharashtra Settlement of Arrears of Tax, Interest and Penalty or Late Fee Act 2023’, commonly known as Amnesty Scheme 2023. The seminar was graced by Shri Nitin Patil, IAS, Hon’ble Spl. CST, Maharashtra GST Department, and attended by numerous Additional Commissioners and other high ranking officers as well as members.

Project Prerna

Practice. Redesign. Empowering. Resourcefulness. Nurturing. Adopting. – PRERNA. To make a stronger impact, presence and create personal branding for CAs across the Region is the mandate of Project Prerna. With this initiative we will increase the visibility as well as empower members to have their own branding which will ultimately raise the profile of the profession and members of WIRC.

Lok Kala Mahotsav

Organised jointly with Lokmat this was a unique event created to promote the traditional local folk artwork and handicrafts. I am pleased to state that the WIRC along with the Ahmednagar branch of WIRC participated at this cultural event.

World Youth Day

The Maharashtra Times invited us to attend and speak on ‘World Youth Day’. We took this opportunity to motivate students and highlight the importance of choosing the correct vocation which would lead them to having a strong career and thus contribute to the growth and stability of themselves and their family.

Chaitanya - WIRC Regional Conference

It gives me great pleasure to share with you about WIRC’s upcoming Regional Conference on the theme ‘Chaitanya’. I am confident that the various topics and knowledge dissemination at the Conference will indeed bring Chaitanya’ into our professional lives. ‘Chaitanya’ is a very powerful word and has multiple meanings including ‘consciousness, intelligence, energy’ and many more and all of the meanings are directly related to our profession. With this as our theme, I am confident that we will do everything we can to broaden and increase our consciousness to progress personally and professionally. I look forward to our dynamic members getting ready to make this Conference a great success through their enthusiastic support and participation.

I want to ask members what they think that highly successful individuals like Warren Buffet, Richard Branson, Tim Cook, etc. have in common. The fact is that not only are they professionals at the top of their game, but that they all work out and consider being physically fit integral to their success. 

In fact, Richard Branson has been known to clearly state the benefits of keeping fit to be more productive, once stating in an interview that he could definitely achieve twice as much by keeping fit. But he’s not the only billionaire to praise the benefits of fitness and its ability to help you find more success. Many other billionaires have a strict exercise regime as well, regardless of their age.

Chanakya clearly states,

‘Wealth, a friend, a wife, and a kingdom may be regained; but this body when lost may never be acquired again.’ Meaning that taking good care of your health is essential.

The common thread across everything that we at WIRC advocate, encourage and implement whether education, holistic health or career growth is ‘Consistency’.

Consistency is the critical driver for success. Being consistent means dedicating yourself to your goals and staying focused on the things and activities to achieve them. However, it requires a long-term commitment and involves sustained effort in doing actions repeatedly until you achieve your target. This ethos is aptly summarized in the line below…

धीरे-धीरे रे मना, धीरे सब कुछ होय, माली सींचे सौ घड़ा, ॠतु आए फल होय।

CA. Arpit Jagdish Kabra
Chairman