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Interview with CA Pramod Jain

He is a commerce graduate [B. Com (H)] from Shri Ram College of Commerce (SRCC). He is a fellow member of the Institute of Chartered Accountants of India (FCA). He is a fellow member of the Institute of Companies Secretaries of India (FCS). He is a fellow member of the Institute of Cost Accountants of India (FCMA). He is a Bachelor of Law (LL.B). He has qualified Information System Auditor [DISA (ICAI)]. He is an Insolvency Professional. He is also a member of All India Management Association (MIMA). He has passed certification course NCFM of National Stock Exchange of India (NSE). He has also done certification course CAAT of ICAI. He has also done post qualification certificate course on Valuation of ICAI.

He is Senior Partner of M/s LUNAWAT & CO., Chartered Accountants. He is president, founder convener and member of various associations, circles, committees, etc. of ICAI, ICSI and other prestigious bodies and associations. Financial Reporting Review Board of ICAI has appointed him as Technical Reviewer to review the financial statements of various listed Companies. He is a Peer Reviewer with Peer Review Board and also Technical Reviewer with Quality Review Board. He has authored books on “Chartered Accountant’s Documentation and Compliance for Audits and Reviews”, Limited liability Partnership – A Complete Resource Book”, “Chartered Accountant’s Documentation and Compliance for Audits and Reviews”, “Importance of LLP after Companies Act, 2013”, “Chartered Accountant’s Documentation and compliance under Companies Act 2013, Peer Review and Quality Review”, “Limited Liability Partnership – Law, Procedures and Taxation”, “Documentation for Chartered Accountants”, “Limited Liability Partnership – Law and Procedures with Ready Reckoner”, “Fringe Benefit Tax & Banking Cash Transaction Tax”, “Documentation for Audits” and “Accounting Standards and CARO”.

He is delivered more than 500 lectures on various topics of Income Tax, Corporate Laws, LLP, Peer Review, Quality Review etc. at more than 90 forums throughout the country. Most of his presentations since 2013 are available for free download from www.lunawat.com

He has written various articles on taxation, company law and audit in various journals. He has a vast practical experience in taxation, audit and corporate laws field and he has been giving consultancy to various corporate and non-corporate entities on taxation matters.

What is your biggest achievement it may include the something about clients plus the seminars you have taken.

All achievements are big, nothing is small from my point of view. From public point of view, no big achievement as such, but I am satisfied with my view. However, delivered more than 500 lectures at around 90 forums. Sharing all my presentations since past 3-4 years with public at large by hosting them for free download at www.lunawat.com Sharing all updates with public at large on all laws through free mobile app ‘LUNAWAT’ containing updates since year 2007.

What is the worst condition you have to face in life? It may include some unsuccessful attempts in life or some disappointments.

No disappointment as such. All hurdles were great experience and gave strength and added experience. God has been very kind to me. Taking out positives even from not so positive events has never led to any major disappointments. Some persons might think that not getting in ICAI Central Council elections in 2015 was a setback, but in my view, that was the greatest strength I got. I learnt a lot and met so many people. The love and blessings I got from one and all is unparalleled.

Some incidence when your self belief and hope were the only thing you have but it turned into positive

When we launched our mobile app LUNAWAT few years back, not many were convinced as it has not revenue model but only costs. However, my intention was to share knowledge as much as possible. My sincere wish to share as much knowledge as possible. Today this app is used by thousands and my intention to share knowledge has brought immense satisfaction to me.

What should be the approach for a newly qualified profession.

First of all love yourself and love whatever you do. Only a person who loves his work can succeed in his life and career.
Be truthful and sincere to yourself and your clients. Small time gains would not benefit in long run. Put efforts to develop your client, if he grows, we too grow.
Keep your knowledge updated and participate in as many discussions as possible leaving a positive impact on the discussion participants.
Work over your knowledge and personality, as ultimately as the saying goes ‘you have to sell yourself’.

How you manage to spare time for studies in a busy schedule.

Delegation with faith in your colleagues gives you enough time to plan and study. If you do all the work and have no time to spare, you can’t initiate or think about anything new. Further the passion to learn more keeps the light of studying glowing in you.

What suggestion you would like to give to young practicing professionals.

Love your profession, never crib over it. Always remain positive about yourself, about the profession and about whatever you do. Keep meeting people and be social (specially with business and service class) and leave an impact about your knowledge on the subject. Develop and maintain good ethics, that would create a big brand and value for you in the long run. Charge appropriate fee for whatever services you render. Not charging fee means no services rendered at all and it also demeans the value of the professional.

What suggestions you will give on team building

Team can be built only if you have faith in others and let them develop themselves. Everyone wants to grow, if you appreciate this and take care that they also grow, then only a good team can be built. When you create leaders, the team is built. Have the role of each team member specifically carved out and the team member should believe and understand the importance of his/her role in the team. Appreciate small efforts and achievements of each team member.

What are your views for professionals who left their core work and engages themselves into malpractices

Any practice which is legal is quite fine. There need not be just the hard core tax and audit practice. Other areas could be developed like those of entrepreneurship, other laws like Insolvency, Benami, Financing, Operational management, etc.

What is your suggestion for the professional who want to resign from their jobs and join practice. What should be there approach

Believe in yourself and the profession. There is enough work for all. Whenever want to start your own practice, have proper plans, some starting assured clients or any field in which you are expert and are sure with talks in advance that some work would come in start. Always keep a positive frame of mind. Meet as many persons as possible, be social and let them know through discussions, what are you capable of. Choose a specialized area if possible, develop a team and you are a master of your own.

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CA Pramod Jain Sr. Partner of M/s LUNAWAT & CO

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New Delhi, India

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