As I write this message, rejuvenated after a short break for the Diwali holidays, my mind is looking for some positive feed to look forward to one more festive year to feast on. While I do find some, what completely unsettles me are the two news items that perhaps reflect mindsets of the eco system we live in. Let me share them with you.
First is the Supreme Court landmark judgement explaining General Public Utility vis-a-vis Charitable Institutions. The landmark ruling, in the context of "advancement of general public utility", holds that anybody involved in "trade or commerce" charges markedly over and above cost would cease to be a Charitable Institution for the purpose of the Income-tax Act.
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A voluntary organisation established on 6th July 1949, BCAS has more than 9,000 members from all over the country at present and is a principle-centred and learning-oriented organisation promoting quality service and excellence in the profession of Chartered Accountancy and is a catalyst for bringing out better and more effective Government policies & laws and for clean & efficient administration and governance.