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‘Demonetisation throws up more opportunities to CAs’
Speakers at the inaugural of the two-day Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI)
- Two-day SIRC meet of ICAI begins in pilgrim city
- Around 2,500 delegates from southern States are attending the meet
Tirupati: Speakers at the inaugural of the two-day Southern India Regional Council (SIRC) of the Institute of Chartered Accountants of India (ICAI) which began here on Tuesday observed that the demonetisation has opened up more opportunities to the Chartered Accountants (CAs). Terming the demonetisation as a welcome step as it would help in channelising the national resources to the growth and development of the nation, they exhorted the CAs to take the opportunity to guide and assure the public in the right direction and contribute towards curbing the parallel economy.
Canara Bank Chairman Padmasri N Manoharan, who was the chief guest of the function, said that the CAs have a pivotal role in bringing awareness among the public on the government initiatives to contain black money, more so the recent demonetisation drive and mitigate their difficulties. In this connection, he cited the huge deposits were accumulated in the banks following the withdrawal of Rs 500 and Rs 1000 notes.
He wanted the CAs not to entertain the clients whose deposits are not under exempted category like agriculture income or from the proper sources. “For the sake of national security and inclusive growth, all members of ICAI should guide their clients and general public in the best interests of the nation, so that the country gets freedom from the menace of black money,” he averred. However, Chittoor TDP MP N Sivaprasad felt that the demonetisation ultimately resulted in the black money holders laughing while the common man weeping. Though the demonetisation is a laudable measure to unearth black money, the Central government failed to implement it as the people are facing lot of inconvenience, the TDP MP opined.
ICAI president M Devaraja Reddy felt that the demonetisation drive will help in promoting financial discipline and also accelerate the efforts for inclusive finance. Saying that it is a bold decision on the part of Prime Minister Narendra Modi even risking his government, he said adding that in the long run it would benefit the country in many ways.
In his welcome address, SIRC Chairman E Phalguna Kumar said that the SIRC had organised several awareness programmes on the Government of India initiatives including Income Declaration Scheme, demonetisation, GST etc. for the benefit of the members and also to the general public. He added that more such programmes are planned in the coming days to help CAs update their professional knowledge. He said 2,500 delegates from southern States are attending the two-day CAs meet titled as Abhigna (Knowledge).
Local MLA M Suguna, SIRC secretary Jomon K George, ICAI Tirupati chapter chairman K Raghurami Reddy and others were present.
Expo attracts delegates
Tirupati: The exhibition organised as part of the two-day convention of the SIRC of ICAI proved a major attraction of the meeting of Chartered Accountants, here on Tuesday. Delegates were seen visiting the stall put by various establishments, trade organisations and industries including HMTV and The Hans India, Kapil IT solutions and others. The delegates were seen eagerly going through The Hans India, English daily, at the stall.
