BCAS Vice President CA Mihir Sheth’s Message for the Month of April2022

Dear BCAS Family,

A fundamental question about life was bothering me for a long time. One quiet evening, during the weekend walk on the beach, I suddenly found an answer to that question. I was myself surprised at the situation in which I found an answer. I thought it would be worth sharing the whole story with you.

The question that had been bothering me was this. “Each person keeps striving hard to get happiness in his life. He keeps running around in pursuit of it, amassing wealth, power and position believing that it would provide him what he is seeking. Yet, the true joy continues to elude him. If that is the reality, then what is the way in which an ordinary human can find joy of living? The state of the being that could give unmitigated bliss without demanding too much of resources or super human effort?” The answer I found was simple. “It is the art of Giving with unconditional love that can give the kingdom of joy one is seeking”. Let me share the experience in its entire perspective. But before I do that, I must share with you the situation in which I found an answer.

While taking a stroll on the beach I saw a street urchin, a young girl of about eight years being given a packet of biscuits by a Samaritan.?Happy at getting food the street urchin ran to find a secure place to eat. I was keenly watching her. The girl really looked hungry and deprived. Suddenly she stopped in her track when she saw a street dog hovering around the food stall being beaten by the vendor ruthlessly. The girl went near the dog keeping safe distance from the vendor lest he beat her too. She pointed the food at the dog and started running. The dog pursued her. Once at a reasonable distance, the girl gave away her most biscuits to the dog. From the body language of the girl my sense told me that the dog was no friend of hers and she had perhaps never seen him. I changed my track and went little closer to observe them. The girl was in complete bliss oblivious to the world singing a song to the dog while feeding him.

I was deeply shaken up by what I witnessed. Here was a girl perhaps as hungry as the dog with no guarantee of her next meal. She was too young to even bargain pity or sympathy. And yet happily she gave away her only morsel to the dog she did not know. What prompted her? What was the driving force that still made her look so happy? After deep thinking, I realized that at her young age she had mastered some fundamental truth of life what many cannot do even at an advanced age, even despite being blessed with all the material possessions! The girl had learnt the art of giving with unconditional love. May be without being conscious about it. That is what perhaps filled her heart with bliss. As if there is nothing else that exists but the moment and the nectar of the joy shared with the receiver.

This episode helped me find the answer I was seeking.

?Joy does not come through possessions. In fact, they act contrary to the purpose and increase worries about them being snatched away. It shifts one’s focus from living in the moment to living for the future with no certainty about the coveted future moment of contentment and bliss. When one learns to give others in need, one affirms his faith in God that HE will look after him. This helps him find a treasure-trove of pleasure as a reward for being an instrument of God.

Sharing this experience with a few friends gave me some new insights. Many admitted that giving selflessly not only gave them immense joy but also made them realize that by some strange cosmic law the good deeds returned with greater intensity. It did not deplete them of what they gave but filled them with much more in addition to some unfathomable sense of contentment and joy. Bingo- that was my answer. Giving multiplies and not subtracts. Preservation actually shrinks your wealth. We need to just look around to realize how the most greedy and stingy people have died with misery despite all their possessions. Joy of giving is much more than the joy of receiving because it creates a web of positive vibrations that multiplies at both ends. This is what a common man can easily do. He can give smile, comfort, patient hearing or love if he does not have material possessions to give. Even that would bless him with the joy that he is seeking.

The life we live comes with a choice for living happily. Why not decide to enjoy every moment of life with happiness that comes by ‘giving’ with unconditional love? I have made my choice. Have you made yours?

?Tit-Bits

Hon. President and Vice President of The Institute of Chartered Accountants of India, CA Debashish Mitra and CA Aniket Talati, paid their customary visit to the BCAS office and met with the Managing Committee members and a few past presidents of the BCAS on March 11, 2022. The meeting was interactive and provided good platform for brain storming on various matters concerning CA profession.

BCAS had an opportunity to meet with CBDT Chairman, Shri J.B. Mohapatra, in person, at New Delhi on March 06, 2022. BCAS has submitted a detailed representation to the CBDT Chairman on the Direct Tax Laws provision the Finance Act, 2022.

The Parliament passed a bill to amend the Chartered Accountants Act, 1949, (including the ICWAI & the ICSI). The implications of these provisions will be huge for the profession. This should be taken as red flag for the profession and the entire CA community will need to buckle up for the challenges that lie ahead.?

BCAS celebrates 60th year of publication of the BCAS Referencer, a very well respected publication that is a must for Chartered Accountants. This will be a momentous occasion for the BCAS and tribute to the dedicated efforts of all those silent volunteers who have ensured that year after year the Referencer raised its bar.

?Events

The Managing Committee of the BCAS organized a virtual talk on “Direction of Tax Policies in India” by Shri J. B. Mohaptra, Chairman, CBDT, on March 09, 2022. The Chairman gave his insight on the topic and gave a perspective from the government point of view. A large number of professionals attended the meeting and benefitted.

The SPR & MD Committee of the BCAS, in association with Monster.com, conducted a job fair on March 15th & 16th, 2022, at the BCAS office where thirteen companies conducted interviews with over 115 fresh Chartered Accountants. On March 15, 2022, the Committee felicitated Chartered Accountants who qualified in immediately preceding two examinations of the ICAI. The BCAS provided complimentary membership to five rank holders Chartered Accountant. Over 150 CAs attended the felicitation programme.

International Taxation Committee of the BCAS concluded with 22nd Long Duration Course on DTAA in virtual mode. Over 150 participants received the prestigious certificate for learning the intricate provisions of the DTAA.

On March 26, 2022, the Accounting & Auditing Committee of the BCAS conducted a full day hybrid Workshop on Recent Amendments in Companies Accounts and Audit Rules including Disclosures and Reporting at Babubai Chinai Hall, IMC. The experienced faculties shared their in depth knowledge with over 200 professionals.

The Taxation Committee of the BCAS organized a hybrid Seminar on LLP – 360 perspective (Legal, Tax, FEMA). The event was well attended and the eminent faculties shared their knowledge lucidly.

The International Taxation Committee of the BCAS has scheduled a Four Day Course on FEMA, spread over fifteen session including a panel discussion among experts in the field. I appeal to members at large to enroll and get the benefit. The event shall be conducted in hybrid mode.

The Indirect Tax Committee of the BCAS has scheduled its 16th Residential Study Course at The Westin, Goa. After two years, a full-fledged event is panned and the BCAS has received an extremely encouraging response. '

Yours truly

CA Mihir Sheth,

Vice President

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