History of the Branch
Salem Branch of the Institute of Chartered Accountants of India has a great background.
To recollect, the Founding Fathers of our Great profession of Accountancy started with Sri M.S. Krishnasamy as early as 1930’s followed by Sri N.C. Rajagopal, Sri. U.R. Subramania Iyer, Sri.U.R. Ganapathy Iyer, Sri G. Sankaran and then M/s.Rajamani & Sankaran, Sri.V.V. Soundararajan, Sri.N.V. Subramaniam, Sri.K.S. Iyer, Sri.Rajarathnam Chettiar and Sri.P. Natarajan
They all belonged to fraternity of holders of Government Diploma in Accountancy of British Government of 1930”s. Later Sri.M.S. Krishnasamy moved to Madras who later on became First Vice President of ICAI after its formation in 1949. GDA was subsequently followed by Registered Accountants and Sri.R. Ramasamy came to profession. On formation of ICAI in 1949 all GDA holders and Registered Accountants had the honour of becoming the FOUNDER MEMBERS of ICAI.
The Founding fathers built up such an excellent reputation in Accountancy Profession because of their honest and sincere services to the Community that our profession was gaining more and more reputation along with other Professions. Till 1960, the members of the Profession met periodically to air their Views and make representations for specific directions on grivences to the Commissioner Of Income-tax during their camps at SALEM.
In 1961, the members felt the need to have an association to voice their Concern as a result of which Salem Chartered Accountants Association was formed with Sri.G. Sankaran as President, Sri.V.V. Soundararajan & Sri.N.V. Subramaniam as Vice Presidents and Sri.G. Ranganathan as Secretary. In 1963, the Association had the honour of receiving Sri.P. Brahmayya, the then President of ICAI along with Central and Regional Council members and later, Past presidents Sri.R. Venkatesan and Sri.V.B. Haribakthi also visited Salem. The Association started making representations not only before Commissioner of Income-tax but also with CBDT, Finance Ministry etc., Hon’ble Sri.K.C. Pant, Minister of State for Finance addressed our Association in 1968 and at the request and representation of the members immediate sanction for an office of I A C and A A C at Salem was made. Earlier they were camping from Madras, Trichy etc., Another noteworthy achievement of our Association was the Representation made in person by delegates from our Association at New Delhi in 1969 when provisions of Sec.40(A)(3) of Income-tax Act was introduced and met the then Hon’ble Finance Minister Sri.Y.B. Chavan, Hon’ble Minister of State Sri.V.C. Shukla and K.C. Pant along with Sri.R.T. Parthasarathy, M.P., and Sri.Era Chezian M.P., After a detailed discussion and patient hearing by the Hon’ble Ministers the Board’s clarification for Rule 6 DDJ and subsequent amendment to Income-tax Act were made by the Govt. Our Salem Association was the first Association to make such a representation and come out with success.
In 1969 our Association organized a full-day conference at Thyagaraja Polytechnic, Salem on Direct and Indirect Taxation and was presided over by Justice Mr.E.S. Venkatramaiah of Karnataka High Court (who later on adorned as Chief Justice of India) and leading advocates from Madras presented papers.
Our Member Late K. Sivaramakrishnan (who died in Air Crash in 1976) was elected to SIRC and became the Chairman of SIRC in 1970, during whose period the meeting of SIRC was held at Salem. He could not make up to the Central Council since he lost by very narrow margin. It was due to his untiring efforts, the approval for a Branch at Salem covering the then Salem District and Erode was given by ICAI and the Salem Branch was inagurated on 18-08-1971 with the following as First members of the Governing Body
Sri.V.V. SOUNDARARAJAN CHAIRMAN Sri.P. NATARAJAN VICE CHAIRMAN Sri.M.A. KANDASAMY SECRETARY Sri.M. CHINNAYAN (ERODE) TREASURER
The Branch started its activities in a determined and more and more purposeful manner for the benefit of its members and profession. Weekly study circle meetings, seminars in between were the highlights of the Branch in earlier years. The Branch was originally functioning in Hindu Modern Hotel and later in rented places at Town Railway Station road and Dr.Sundaram Nursing Home annexe while seminars were held in conference halls of Hotels, Thiagarajar Polytechnic and Co-operative Bank hall. In view of more and more activities, increase in membership and participation by members, the then Chairman Late Sri.K.R. Sarangapani took the initiative to look for suitable land/buiding of our own.
It was only in 1993 due to the efforts of the then Chairman Sri.G. Ranganathan a land measuring 2900 Sq.ft. was purchased at Sri Ramakrishna Road, Salem in the name of ICAI. Plan for the proposed building was prepared and obtained the approval of the Salem Municipal authorities. The foundation for the building was laid by Sri.N.C. Sundarajan, Past President of ICAI in December, 1994. The Chairmen of subsequent years were very actively taking steps to raise sufficient funds for the building and it was on 03-11-1998 the dream became true during the Chairmanship of Sri.V.S. Varadarajan the building with a Ground floor of 1480 Sq. ft. and a first floor of same size was declared opened by Hon’ble Thiru. Veerapandi S. Arumugam, Minister of Agriculture of Govt. of Tamilnadu in the presence of Sri. Rahul Roy, the then President of ICAI, Past Presidents Sri.R. Balakrishnan, Sri.N.C. Sundararajan and members of Central and Regional Council. During the Chairmanship period of Sri.V.S. Varadarajan the branch celebrated GOLDEN JUBILEE of ICAI and honoured the members who have completed 50 years, 40 years and 25 years of membership. The branch got provision of infrastructure facilities like furniture, Dish antenna for teleconference etc., The branch was in receipt of grants from ICAI for buildings, furniture, Dish antenna and library. The branch had introduced Annual seminar fees scheme for members. The branch won active Branch Award from SIRC for all the three years during the Chairmanship period of Sri.V.S. Varadarajan. The building at the First Floor was air-conditioned and a mini hall in the second floor was constructed during the period of Sri M.V. Rengarajan and the second floor hall was extended during the period of Sri.G. Chennakesavan for computer centre and conducting coaching classes. The branch is fully equipped with all infrastructure facilities, a good library, facilities for teleconference etc., in addition to other facilities.
This has been possible because of various grants given by ICAI and generous donations from public of Salem and members Silver Jubilee, Golden Jubilee of ICAI, SIRC and Silver Jubilee of the branch were celebrated in a fitting manner and we hold annual oration lectures on allied and general laws under G. Ranganathan endowment.
The Branch is very popular for the excellent coaching classes for the Students and the faculties, who are mainly our own members are doing a commendable job year after year. The SICASA is very active.
The Branch has won many Commondation awards, Active branch awards and as a feather to our cap, the Branch was adjudged as Best Branch in 2007 for medium size branches at All India level.
Many Presidents of ICAI and Chairmen of SIRC have visited our Branch. It is our duty to place on record the excellent services rendered by the Chairmen, Secretaries and members of the Governing Body of the branch all these years and let us pledge to dedicate ourselves for the growth and dignity of the profession. At present the Branch covers Salem, Dharmapuri, Krishnagiri and Namakkal Districts.
Under the leadership of Chairman of various years the Branch has grown from strength to strength and at present Salem Branch is one of the prestigeous Branches of ICAI.
Under CPE Programme, Faculty Members are invited from far & near, to address the members Residential and Non Residential seminars, one day annual conference are regular features of the branch. Our own members are motivated to address at study circles, Seminar etc., Few of our members are regularly addressing in other branches and at regional level seminars.
The branch has brought out the Members Directory for the first time with full details and photograph.
Coaching classes for PE I, PE II, CPT, were conducted. GMCS courses and Computer coaching classes, for students. ISA classes, CAAT courses are also being conducted.
Few of members are coopted in the non-standing committees of ICAI & SIRC.
Many members have qualified themselves in CISA & DISA.