Dear Professional Colleagues,

At the outset, as we embark upon Vikram Samvat 2082, I extend my warm wishes to all with happy and prosperous Vikram Samvat to everyone. October was a grueling month of Tax Audit season blended with festive celebration of Diwali. As per the Press Information Bureau, around 34.09 lakh Tax Audit Reports were filed last year. This number is growing by 4-5% every year. Thus, with the new opportunities every year there is also an increased responsibility of Tax Auditors.

India’s economic landscape is undergoing a decisive transformation, anchored in the government’s broader vision of simplification, transparency, and investor confidence. The landmark reforms in rationalizing GST tax slabs and reducing compliance burden, generational shift in new Income Tax Act by replacing the legacy of 1961 Act and the forthcoming Insolvency and Bankruptcy (Amendment) Bill, 2025 seeking to address certain pain points and strengthening creditor confidence.

Joining this growth engine, ICAI has floated an exposure draft that proposes significant amendments to its Code of Ethics: relaxing certain restrictions on advertising, partnerships with other professionals (for example in insolvency/resolution vehicles), revising auditor-independence norms (including stricter non-audit service restrictions for Public Interest Entities (PIEs). This revised Code of Ethics blends global best practices supporting the Honorable Prime Minister’s vision for aggregation, collaboration and global branding of Indian firms.

Keeping in view that our members are updated and benefitted in their professional endeavors with exciting times ahead, Association had planned and organised many events.

Events in Retrospect:

The Study Circles continue with the usual enthusiasm. With the intention of giving impetus in CA practice and food for thought for our members, we had an online session by CA Malay Damania on “Building a Rs.5 crore CA firm – Mindset, Clients, Teams & Systems”. In the series of Gyan Ganga Publication, Association published its next publication on “Investment options for Senior Citizens” in Kutchi Patrika. With the vision of embracing technology, our Association’s News & Views repository of last several years is going live on the web blogpost. Also, as a part of a recreational activity for young members, a garba night was organised in conjunction with Kutch Yuvak Sangh on the day of Dasshera.

Forthcoming Events at CVOCA:

Dadar (E) CPE Study Circle has announced a Residential Refresher Course which is hosted by Goa Branch of WIRC. It is proposed to be held on January 9, 10 and 11, 2026 at Club Mahindra – Assonora, Goa. I would like to encourage all members to register and participate for the same. We also continue with the discussion on Sectoral Analysis and Investment strategies under the aegis of Value Investing Club for which forthcoming session is also planned in the month of November. We have planned various other professional/ technical events for members and students for their professional development. One of the most anticipated recreational activities is our auction-based cricket for members and their families. So, looking forward for your active participation in forthcoming events.