BCAS Vice President CA Chirag Doshi’s Message for the Month of January 2023
Professionals – Be Future Ready
I recently visited the Museum of Future and also watched a few videos on this topic. I learnt many new things which I would like to share with you with the intention that we should also start thinking about the future of various professions given the kind of changes we are witnessing in the areas of technology, economy, medicine, sustainability, digital currency, metaverse and many more.
Some of the technological advancements and innovations that will make the World a different place in year 2050 and beyond are:
Energy & Environment
a. Solar panels placed on another planet transmitting energy to the receiving stations on the Earth for onward dissemination.
b. Storing of DNA of plants, insects, birds and animals which are in extinction and then using them to recreate these extinct species.
c. A straw that will generate water from air directly.
Food, Clothing, Transport and Education
d. Adding proteins to the roots so the fruits and vegetables are more nutritious.
e. Food at home could be pills only which would give the body the required nutrition and people may go for outside or restaurant food for occasions only.
f. Robots would prepare the food and serve you with minimum human intervention.
g. Artificial intelligence helping evolution of flying cycles, automated or driverless cars, supersonic starships and much more to make travel much easier.
h. Tailors replaced with robots keeping up with different trends and style.
i. Education in online or hybrid mode or huge screens where teachers and students can see other or may be classrooms could be replaced by metaverse environments.
Fintech
j. Traditional banks giving way to people operating in digital currency with distributed ledger technology.
k. Payment through chips in your fingers.
Political and Judicial System
l. Political systems could have more robots even the president or prime minister could be robots who will take informed and unbiased decisions.
m. Judicial systems might still need humans as robots don’t have mercy
Medical & Wellness
n. Robots might perform the surgeries with human doctors guiding them through screens or remote technologies.
o. 3D printers even for human body parts like prosthetic legs, drones delivering them along with other products.
p. Wellness with sound, smell, and music therapies.
q. Replacement of Organs with help of tissues and cells.
Such things also make me think how would our profession be in future; auditing through robots or AI technologies, individual also budgeting like corporates and planning their taxes, would taxes be replaced with social contributions, physical verification through robots and drones, auditing the black-box and no more around the black-box, single tax structure for the globe, single currency in the business world and more.
Emerging professionals could be game changers and would need to think innovative ways to build trust in the technology changes I have mentioned above.
In our day to day operations are we missing to read and research on future of our profession and innovate new ideas relevant to the growth of our profession? Please write to me at vp@bcasonline.org with your innovative ideas related to future of our profession.
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Events
A. The Reality And Depth Of Homoeopathy
Hybrid Meeting on The Reality and Depth of Homoeopathy – on Meditation to Cure the Mind was organized by HRD study circle on Thursday, 15th December, 2022 at Bombay Chartered Accountant Society office.
For more details, visit – https://www.youtube.com/watch?v=1RGiTNm9bNc
B. Lecture Meeting On Metaverse
The world is on the verge of experiencing the beginning of a new era of the Internet; and considering this, the Society organised a lecture meeting on Metaverse and Web3 Technologies on 14th December 2022.
For more details visit – https://www.youtube.com/watch?v=GJ8YgVgc600
C. Study Circle Meeting For Budding Entrepreneurs
The Human Resources Development Committee organized a hybrid study circle meeting titled “Kal, Aaj aur Kal for Budding Entrepreneurs” – Insights about how to win the battle called 2030 with Right Strategies, on 13th December, 2022, at the Bombay Chartered Accountants Society office
For more details visit – https://www.youtube.com/watch?v=A_hy2gQfW4w
D. Meeting To Highlight Changes In Reporting In Gstr 9 And 9c
The Indirect Tax Study Circle organised a meeting on 9th December, 2022 to highlight the changes in re-porting in GSTR 9 and 9C for FY 2021-22 as compared to previous FYs.
E. Meeting – ‘recent landmark sc rulings’
On 5th December, 2022, the Direct Tax Study Circle held a meeting on ‘Recent Landmark Rulings’. The landmark Supreme Court Rulings discussed included Singapore Airlines Ltd vs. CIT [2022], New Noble Educational Society vs. CCIT [2022], Dinesh Vazirani vs. PCIT [2022], PCIT vs. Wipro Ltd [2022], Seema Jagdish Patil vs. NHRC Ltd & Ors [2022] and S.A. Metro Plots (Pvt.) Ltd vs. ITO [2022].
F. ‘Enterprise Risk Management (Erm) 101’- A Joint Program With Irm, India Affiliate
The Society has entered into an MoU with the Institute of Risk Management (IRM), India Affiliate, to provide knowledge and learning opportunities about ERM concepts to students and young professionals. The Socie-ty organised a program titled ‘Enterprise Risk Management (ERM) 101 on 3rd December, 2022 at the Jio World Convention Centre, Mumbai.
G. Lecture meeting – “decoding global financial market and changes in regulations – odi”
The Society organised a Lecture Meeting on “Decoding Global Financial Market and Changes in Regulations – Overseas Direct Investment” on 30th November, 2022 on Zoom and was telecast live on YouTube.
H. Online meeting – ‘reverse change mechanism’
The Indirect Tax Study Circle of the Society organized an online meeting on ‘Reverse Change Mechanism – Is it a better proposition for seamless credit?’ on 28th November, 2022. The speaker presented 11 case studies on Reverse Charge Mechanism.
I. Meeting – British Economy Challenges
ON 23rd November, 2022, the International Economics Study Group of the Society conducted a meeting on the topic ‘Decline of British Economy, Downfall of British Empire and Londongrad and Current status of Economy & Markets”.
J. Workshop – ‘Macros recording for GST compliances’
The Indirect Taxation Committee of the Society organized a half-day workshop on ‘Macros Recording for GST Compliances’ on 19th November, 2022 at the Babubhai Chinai Hall, IMC.
K. Seminar – ‘Business Restructuring’
On 14th November, 2022, the Taxation Committee of the Society, in association with the IMC Chamber of Commerce and Industry and Bombay Chamber of Commerce and Industry, organised a hybrid seminar on ‘Business Restructuring’.
For more details visit – https://bit.ly/3HTbQJ4
L. Workshop – Tax Issues In Redevelopment Of Immovable Properties
The Taxation Committee of BCAS organised a workshop on ‘Income Tax Issues on account of Redevelopment of Immovable Properties’ in hybrid mode on 11th November, 2022.
For more details visit – https://bit.ly/3HTbQJ4
M. Lecture meeting – “Growth Based Investing”
On 9th November, 2022, The Society organized a hybrid Lecture Meeting on ‘Growth-based Investing’ in Hybrid mode.
For more details visit – https://www.youtube.com/watch?v=U5DqRzteM54
N. Study Circle Meeting – Positive Ageing
The Human Resource Development Committee of the Society organised a Study Circle Meeting On the topic of “Positive Ageing” on 8th November, 2022 at the BCAS office, Mumbai.
For more details visit – https://www.youtube.com/watch?v=ZTARZvPXOZs
O. Webinar – Sc Decision On Charitable Trusts Exemptions
The Taxation Committee of the Society organised a Webinar on 7th November, 2022 to discuss the recent SC decision laying down the law on Charitable Trust exemptions. The speaker, Adv. Saurabh Soparkar, discussed the far-reaching effects of the SC judgment in the case of Ahmedabad Urban Development Authority on Charitable Trusts.
For more details, visit – https://www.youtube.com/watch?v=SBqh8urf670
Forthcoming Events:
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Topics
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Date
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Speaker Name
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Fees
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Regn. Link
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Workshop on GST Law – Organised Jointly By GSTPAM, AIFTP(WZ), CTC, MCTC
& WIRC OF ICAI
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17th January to 16th March 2023
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Various Speakers
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Member Fees: Rs. 3,000/- plus 18% GST
Non- Member Fees: Rs. 3,500/- plus 18% GST
Member Fees: Virtual Mode Rs. 1,500/- plus 18% GST
Non Member Fees: virtual Mode Rs. 2000/- plus 18% GST
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Click here
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Workshop on Penalties under Income Tax Act 1961
1.Penalty provisions under sections 271AAC,
271AAD,271D,271DA,271E,271J 2.Penalty provisions under sections
270A,270AA,273B
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Thursday, 19th January, 2023
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Advocate Mihir Naniwadekar & CA Jagdish Punjabi
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Members: Rs 750 + GST
Non-members: Rs 950 + GST
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Click here
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Training Workshop on Effective Public Speaking and Business Presentation
Skills
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3rd, 4th, 10th & 11th Feb 2023
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Pramod Palekar (faculty Mentor)
Jameer Mokashi (Counsellor and motivator)
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CA Final Students: Rs 4000 + GST
CA Members: Rs. 6000 + GST
Non-Members: Rs 8000 + GST
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Click here
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Master class on mergers and acquisitions
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February 10th & 11th, 2023
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Various Speakers
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Members Rs. 5300/- (Incl of GST)
Non-Members Rs. 6500/- (Incl of GST)
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Click here
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Prosecution for Cheque Bouncing – Overview of the law, issues and
solutions
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Monday, 13th February, 2023
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Kartik Garg
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BCAS MEMBERS ONLY
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Click here
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56th Residential Refresher Course
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Thursday to Sunday
23rd to 26th February, 2023
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Various Speakers
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Residential INR Rs.27,730/- Incl.of GST
Non Residential option
For local BCAS members with
Coimbatore address: Rs. 13,570/- Incl.of GST
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Click here
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Lecture Meeting on Social Audit of Social Enterprises
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Wednesday, 1st March, 2023
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CA Sangeeta Kumar
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Free to All
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Click here
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10th YRRC
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17th, 18th & 19th March 2023
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Various Speakers
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Early Bird Upto 31/01/2023
Members: Rs. 15,000 + GST
Non-Members: Rs. 16,000 + GST From 01/02/2023
Members: Rs.17,000 + GST
Non Members: Rs. 18,000 + GST
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Click here
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27TH INTERNATIONAL TAX & FINANCE CONFERENCE
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Thursday, April 6 2023 to Sunday April 9 2023
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Various Speakers
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Early birds upto 31st January 2023
Members: Rs. 24,500 + 18% GST
Non-Member: Rs. 27,500 + 18% GST
From 01/02/2023
Members: Rs. 27,500 + 18% GST
Non-Member – Rs. 30,000 + 18% GST
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Click here
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17th Residential Study Course on GST
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Thursday, 22nd June 2023 to Sunday, 25th June 2023
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Various Speakers
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DEEP DISCOUNT:
Enrolments on or before 20-01-2023 – Members: Rs. 22,000 + GST 3,960 = Rs. 25,960
Non- Members: Rs. 25,000 + GST 4,500 = Rs.29,500
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Click here
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Thank You!
With Best Regards,
CA Chirag Doshi
Vice President
Please feel free to write to me at vp@bcasonline.org
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