Chandigarh Member of Parliament, Mr. Pawan Kumar Bansal today said with city becoming a corporate hub, chartered accountants have an important role to play.

The MP said there was no denying in the fact that tax as a subject has its own importance in the economy today, adding that deliberations on the subject in the conference will bring out important conclusions.

He was speaking at TaxCon 2014, a conference at Hotel Mountview organized by Chandigarh Branch of The Institute of Chartered Accountants of India. “Chandigarh is already a financial, health and educational hub, and is fast becoming an IT hub of the region. While we don’t have a supportive industrial policy, but all industrial houses around city have their corporate offices in city. Hence CA’s have a very significant role”, said Mr. Bansal.

He said there are 2 lakh chartered accountants in the country and over 10 lakh students pursuing this profession, which itself explains their growing demand keeping in mind growing economies across the world.

Mr. Bansal said some crucial laws are not simple and complexities are on the rise and professionals are required in the financial sector. Seeing the presence of CA students in the audience, the MP said they should work hard to attain success and should not be afraid of facing failure.

“The way you manage things when you have nothing and the way you behave when you have everything” is the mantra of success, he said, stressing on the need to accept ups and downs and how you manage your failures, which defines life. The MP said CA’s have a major challenge to redress financial matters with their expertise.

The Chief Commissioner of Income Tax, Mr. Swatantra Kumar, Additional Commissioner Income Tax Garima Singh, and ICAI Chairman Krishan Joshi were also present on the occasion among others.