President’s Message | January 2024
My dear KSCAA members,
In 2023, while the rest of the world faced challenges such as the Israel-Palestine conflict, high interest rates in the US, Banking sector under significant challenges, and a strong dollar, India experienced economic prosperity and it was a memorable year for India. As we say goodbye to 2023, let’s welcome 2024 as a year of comprehensive growth in every aspect of life. Invest valuable time in nurturing meaningful relationships for a fulfilling year ahead.
In the pursuit of the goal “Recraft Yourself,” emphasis should be placed on the “D” that stands for Deliberate. Attaining our objective requires prioritizing choices, and these choices are predominantly driven by two emotions called pain and pleasure. Indeed, a fundamental fact of life is that a disciplined process often involves pain and challenges, but it ultimately leads to fruitful outcomes. Persistence, dedication, and a commitment to ongoing hard work play crucial roles in navigating difficulties. Success often requires pushing through adversity with a resilient and determined mindset. As the saying goes, “Discipline is the bridge between goals and accomplishments”
Let’s catch up on the recent events that are relevant to our profession:
- Events within the professional sphere:
- The increasing sophistication of cyber attacks, facilitated by AI and automation, has elevated the threat level, placing India among the select group of nations most significantly impacted by ransomware.
- Parliament has passed The Parliament has approved the Bharatiya Nyay Sanhita, Bharatiya Nagrik Suraksha Sanhita, and Bharatiya Sakshya Bill, signaling a comprehensive overhaul of colonial-era criminal laws. This initiative encompasses revisions to contentious statutes like the sedition law and reinforces legal protections for women and minors.
- The BCAS’s 75th year celebration, with the theme “Reimagine” Conference, hosted in Mumbai, saw the active participation of numerous members from Karnataka. The event offered valuable insights that are highly relevant to the current times, and it facilitated discussions on reimagining various aspects of our professional practice. Panel discussions delved into the comprehensive exploration of these ideas across different spheres.
- Events at KSCAA:
- On December 5th, the Direct Tax Committee organised a program addressing the Income Tax implications related to the issuance of securities. The event was well-received and offered valuable insights
- The Residential RERA Practice Enabler program witnessed active participation from members across various districts of Karnataka. The event featured engaging group discussions, paper presentations by team leaders, and insightful perspectives from domain experts. The practical experiences shared by RERA Board members added an enriching dimension to the program.
- KSCAA collaborated with ASSOCHAM to host a program titled “Insolvency & Bankruptcy Conclave 2023.” The event received a positive reception, marked by its success and was particularly beneficial for numerous insolvency professional practitioners.
- On December 22nd, the Women Empowerment Committee orchestrated an exclusive session for Chartered Accountants, focusing on untapped opportunities within the MSME sector for professionals.
- Sports & Cultural Meet was arranged on December 17, 2023, to commemorate Kannada Rajyotsava and promote indoor sports. The cultural and family-oriented activities fostered strong emotional bonds among the members.
- Upcoming Event:
- The Residential Refresher Course on GST is scheduled to be held on 2nd to 4th of February 2024.
Please stay connected with us through our Website and WhatsApp to actively participate in every event organised by KSCAA.
As I sign off, let’s make a collective pledge to make every day of the upcoming 365 days count, to build our legacy, and together, let’s contribute to shaping a new world..
Happy Reading!
Best Regards
Sujatha G
President