Power of Professional Unity

1. Power of Professional Unity Presented by CA Vishal D. Langalia vishal@langalia.com

2. Thanks to all CAS Members & others for providing wonderful suggestions to strengthen our association and to create brand image for professionals. Keep sending more suggestions in different areas and be an active part of our unity. CA Vishal D. Langalia

3. The power of Professional unity, when practiced diligently, can be a very powerful tool. It is not oriented to any one religion, it is accepted universally and practiced by almost all faiths on the planets. It is through unity that you can ultimately find your inner being. CA Vishal D. Langalia

4. Power of Unity will address the imbalance that exits in all of us and will guide us to come to terms with the things we need to do. Eventually, becoming better at understanding who we are, what we are and in particular why we are here. This in turn will bring us to who we can be. CA Vishal D. Langalia

5. If your life has to mean something, it must start today. Every one of us is bound to be world-class champion in particular field of endeavour. We are duty bound to find the field. But doing the same things everyday cannot deliver new results. To change the results you are getting, you need to change what you are doing. You must transform the way you live your life. Changing the way you live means changing how think. Changing how you think means changing what you have come to believe or accept about life. This is very hard. So hard that even when you so desperately want to change, you prefer to hang on to the misery because it is familiar and it is comfortable. CA Vishal D. Langalia

6. Your life is not yoursuntil you risk it. There are basically two kinds of people: lions and sheep. Ninty percent of people are sheep. Because we like to follow the norm. The norm being our comfort zone. The comfort zone is where we get to drown slowly and luxuriate in it as we do. Change require risk. But how much are we willing to risk? The funny thing is, the things we are so scared of risking are like chips in a casino, useless unless they are risked. CA Vishal D. Langalia

7. Ways of Earning We all know ways of earning and cost-reduction as we all are known to be keen in the areas to our clients. However, believe me friends, so much of opportunity are waiting for us and give us an indication to select please………if we are united. I like to through lights on few of them: CA Vishal D. Langalia

8. Man-power Pooling • Since last number of years, we all are facing: • Shortage of Man-power for particular unplanned work • Excess of Man-power for particular period of time • We face high level of hassles in getting experienced Man-power related to unique work at the same time other professionals are with the situation of Excess Man-power. • We all can earn money by sharing our excess staff with other professionals and at the same time other professional can manage his unplanned work hassle-free. CA Vishal D. Langalia

9. Books, Magazine, Stationary etc. • We all professional are incurring expenses towards books, Magazine, stationary etc. Further 80% of the total cost is towards for the purchase of the same books that all other CAs are purchasing. • We will be offered with more discounts by purchasing that in bulk. CA Vishal D. Langalia

10. Operating System for PC • Most of us are using pirated operating system for PC in the offices. Accordingly we are not supported by the company. • Even, most of us, are not in pipeline to switch to License version as the cost of the same is relatively higher. • In the field of globalization, day not far, when we bound to use license versions only. • We all can either switch over to other free operating system like linex (with all support) or we can bargain for great discount with current operating system provider. CA Vishal D. Langalia

11. Softwares • Most of us using different accounting, income tax, sales tax, service tax and other softwares developed by different companies. • Most of the times, the companies do not care for services need to be provided to professionals as we are not united. • Further, as edge of your database in the software are getting older, services are getting poorer. • By power of unity, we can bargain for the new installation and for renewal charges as well with effective service ratio. CA Vishal D. Langalia

12. Submission of Income Tax returns / Sales Tax returns • We professionals are sending our staff to Income Tax Department / Sales Tax Department or to NSDL Centers for submission of Income tax / Sales Tax returns or for application of PAN Card / TDS returns etc. and accordingly incurring expenses towards utilization of Man-power and conveyance etc. • If we all outsource the activity to any single Agency (Courier), the facility can be available to us at very economical rate (Agency work includes collection of documents at office, Submission to Department, Delivery to office) • Please note that submission to Department outside Ahmedabad (i.e. ITO Mehasana, Nadiad, Himatnagar, Baroda, Gandhinagar, Modasa, etc.) can also be asked as per need with effective rates. • Again the same Agency (courier) will pick all other courier from our office at discounted rates. CA Vishal D. Langalia

13. Trainee – Staff • To reduce the cost of Man-power for routine work, we all can have association with the Educational Institute for Workshop / Project of Three-four months at CA office before a student starts carrier and after completion of study. • The trainee can be made available to us at very economical rate. • This will also increase our Brand image to normal class of the society. CA Vishal D. Langalia

14. ECS Have we ever think about anytime that we can also collect our fees by ECS (Electronic Clearing System)….? Again that to for normal quantum of clients with power of unity Just think, on a particular day, say on 1st April of every year you get most of your clients income-tax fees are getting credited to your bank account. (It may be charged in advance also) CA Vishal D. Langalia

15. PAN Database Income tax department is going to stop “PAN Verification” facility on 20th July, 2008. i.e. we are unable to see Name of PAN holder on the base of PAN Card Number. However, as informed by department, the facility is available on enrollment with an annual fees of Rs. 12,000/- only. CA Vishal D. Langalia

16. Reminder Software for clients Most often our staff members are used to remind the clients for various reasons like due dates, documents requirements, fees collections, etc by telephone or through letter. We can reduce the cost of communication by installing reminder software at client place. CA Vishal D. Langalia

17. AMC of Computers More of us are having AMC (Annual Maintenance Contract) of Computers. However, they are not providing in-time services to us, even after charging reasonable amount for AMC or per Visit. By power of unity, we can: 1. ask for in-time high quality services 2. get heavy discount for the services CA Vishal D. Langalia

18. Salary structure for Employee We can structurised Salary level for skilled, semi-skilled and other employees in our organization. It will help us to retain our staff and to control our overheads. CA Vishal D. Langalia

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22. Revenue increment in other areas Yet we have thrown some lights on revenue earnings areas by cost reductions only. However, there are lot of other areas, where we can earn more with better services to clients just with Power of Unity. e.g. Insurance, Mutual Funds, Equity markets, Loans etc. CA Vishal D. Langalia

23. Examples • Term insurance tie-up of ICAI with LIC for the benefits of the members • Bulk purchases and retail sales by MALLs • Tie-up of Veritas with United India Insurance Company. • Tie-up of Centurion Bank of Punjab with Aviva Life Insurance Company • And more………………………….. CA Vishal D. Langalia

24. Thank You I believe now, on completion of the session, you will walk away refreshed, reorganized and redirected. At worst, you will walk with, at the very least, more thoughts to ponder upon. Waiting for your valuable suggestions. Email: vishal@langalia.com CA Vishal D. Langalia