BCAS President CA Anand Bathiya’s Message for the Month of February 2025
Last month, your Society uploaded all videos from the landmark BCAS Reimagine conference to its YouTube channel. Since then, these exclusive videos have accumulated thousands of views in a short period.
In one such video, being a dialogue on ‘The Victorious’ with living-legend Viswanathan Anand, the grandmaster shares insights on his deep-passion for leveraging his personal learnings and achievements towards creating a virtuous, self-propelled chess ecosystem in our country. The true impact of this endeavour revealed itself when young Gukesh Dommaraju, his prodigious pupil, was crowned the youngest world champion in the history of the game.
Often times we underestimate the power of a single person, the power of a single idea and the power of a single organisation. From just one grandmaster in 1987 (being ‘Vishy’ Anand himself) to more than 85 Indian grandmasters today, with 6 out of top-20 world players being Indians and 3 out of top-6 world junior rankings being Indians, it was so apt when chess legend Garry Kasparov commented: “Children of Vishy Anand are on the loose”.
Anand’s initiative, being superbly supported by the local government in Tamil Nadu, schools in Chennai, local coaches, capital providers alongwith technology access, has ushered a new era in Indian chess; it being highly speculated that the 2026 world championship title clash will be an Indian-vs-Indian clash. It’s a moment of pride, satisfaction and inspiration when in a short-span our country leads the world-pack, in a sport that was also historically invented in our beloved country itself, thousands of years ago.
As individuals and as organisations, there remain deep lessons in driving goodness and change through small-but-focussed interventions, powered by a supportive ecosystem. The single-most important reason for this ‘renaissance’ in Indian chess has been the contribution by multiple Indian Grandmasters who are ready to give-back-to-society by creating a further line of champions. As an organisation itself, the BCAS think-tank aligns itself and continuously draws inspiration by such thoughts whilst constantly yearning to bring positive change for the members and the community it serves.
The resurgence of Indian chess, co-incidentally also had the Finance Minister Mrs Nirmala Sitharaman highlight the rise in Indian Grandmasters during her Union Budget speech last year. Whilst a year has gone by and Indian chess has created further records, our country’s excitement to the upcoming Union Budget in 2025 remains consistent.
Union Budget 2025
By the time you read this message, the Finance Minister would also have accomplished her own record of presenting the highest number of consecutive Union Budgets. The budget for the financial year 2025-26 will mark her eighth consecutive Union Budget, a new record in India’s Parliamentary history.
The upcoming annual Union Budget on 1st February, 2025 is also the first full-year budget in the third-lap of the Modi government. In the backdrop of (a) a stable coalition government with runway for next four years, (b) no major upcoming election rush and recent positive wins in state elections and (c) buoyant all-time high tax collections with simplification expectation, seen in contrast to (x) early sluggishness spotted in economic numbers, (y) anxiety in middle income earners towards impactful taxes and (z) impact of geo-political shifts and Trump effect, the stage is set for this Union Budget to make its presence felt.
Not having the benefit of her thought-process and the fine-print under the Finance Bill, 2025, I will not risk speculating on the coverage under the Union Budget, but the formal BCAS expectation from the Union Budget, through a pre-budget memorandum has been submitted to the Finance Ministry, copy of which can be accessed at the society’s website. As Chartered Accountants, it will also be of immense interest to understand the outcome of the government’s initiative attempting to simplify the Income Tax Act, 1961.
The annual BCAS Budget Analysis publication is now available for pre-booking and we will strive to roll-out the publication, as soon as possible, post the Finance Bill, 2025 being available. The much-anticipated open-for-all BCAS Public Lecture Meeting on Direct Tax Provisions under Finance Bill, 2025 is scheduled to be held on 6th February, 2025 at 6:15 pm Yogi Sabhagruh, Dadar, Mumbai by learned Shri CA. Pinakin Desai, Past President – BCAS.
NFRA Representation
Separately, the Society has submitted a representation to NFRA regarding the fraud reporting requirements for statutory auditors of regulated entities. The representation focusses on the need to eliminate the duplication of reporting to different authorities, streamline the reporting process and simplify the regulatory framework for entities like banks, insurance companies, and NBFC’s by avoiding multiple reporting.
Open-for-all sessions and the BCAS YouTube Channel
Since inception, the BCAS has endeavoured to conduct open-for-all lecture meetings each month. In the month of January, the BCAS conducted 4 (four) such open-for-all lecture meetings. These sessions on (i) Navigating the Insolvency and Restructuring Landscape, (ii) Managing Challenges in Profession Today: Gita’s Perspective, (iii) Recent Important Decisions under Income Tax and (iv) Return of Trump – What does it mean for America, India and the World, were well received by our community. Most of these open-for-all sessions are also available through the BCAS YouTube channel. Over the years the BCAS YouTube channel has grown into a treasure trove of professional content and knowledge. Last month the BCAS YouTube channel touched a record 1 million views. With an ever-increasing content repository through open-for-all sessions, members not having subscribed, may choose to subscribe the BCAS YouTube channel.
Residential courses – 2025 season
The 2025-season of Residential Refresher Courses (‘RRC’) has officially started with the successful completion of the Residential Leadership Retreat in January. Next up:
1. Members’ RRC: At Lucknow/Ayodhya from 26th February to 1st March, 2025. Registrations closed!
2. IND-AS RRC: At Lonavala from 20th March to 22nd March, 2025.
3. International Tax and Finance Conference: At Jaipur from 3rd April to 6th April, 2025.
4. GST RRC: At Kolkata in June 2025.
The concept of RRC’s was pioneered by the BCAS. Experience the magic of top-notch learning, networking, thought-leadership and unparallel bonding at the BCAS RRCs. Join us for your preferred RRC and we look forward to interacting at the RRCs.
