CV of the ICAI President

CA. VED JAIN, PRESIDENT, ICAI 2008-09

CA.VED JAIN, FCA, New Delhi, aged 54 years has been elected as President, The Institute of Chartered Accountants of India (ICAI) the apex body of the profession of Chartered Accountants in India for the year 2008-2009 on 5th February 2008. Academically brilliant, he is a rank holder in both CA Inter and CA Final. A Triple Bachelors Degree Holder he has done his Bachelors of Science from Punjab University in 1973. A true follower of Continuous Professional Education, after completing his chartered Accountancy in 1973, for the love of the subject he did his Bachelors in Arts in Economics in 1979. His thirst of knowledge was not slaked still and he completed his Bachelors Degree in Law in 1980 from Delhi University. A Fellow Member of ICAI with more than 3 decades of standing, CA.Ved Jain was elected to the Central Council of ICAI for the first time in 2004 and thereafter in 2007. 

He has held the position of Chairman and Vice-Chairman of Fiscal Laws Committee and Chairman of the Audit Committee. Besides the above, he has also served as a member on several committees namely – Executive Committee, Disciplinary Committee, Accounting Standards Board, Auditing and Assurance Standards Board, Committee for Members in Industry, Committee on Financial Markets and Investors’ Protection, Professional Development Committee, Board of Studies, Committee on Ethical Standards, Editorial Board, Continuing Professional Education Committee, International Affairs Committee and Committee on Accounting for Local Bodies. 

A soft spoken, unassuming person, he is practical and down to earth. A true believer in the adage that teamwork and coordinated efforts help to get the work done better and faster. He is an expert in interpersonal skills and a natural team builder and team leader par excellence. 

Currently, he is a member of the National Advisory Committee on Accounting Standards constituted by the Ministry of Company Affairs, Govt. of India and also Co-Chairman of the Committee on Direct Taxes of ASSOCHAM. He was also a member of Committee on Accounting Standards constituted by Central Board of Direct Taxes (CBDT), Ministry of Finance, Govt. of India. Recently he has been appointed as Member of the Developing Nations Committee of International Federation of Accountants (IFAC). 

He has been actively involved in the drafting of Form No.3CD, Guidance Note on Tax Audit, issues on Tax Audit, Fringe Benefit Tax, Guidance Note on MAT, Transfer Pricing Rules, Audit Report and Guidance Note thereon, study on Value added Tax, Pre-Budget and Post Budget Memoranda being submitted by the ICAI every year. His incisive, precise and apt observations clearly reveal the depth of his assimilation and comprehension of Tax Laws. 

He has been a member of the Income Tax Appellate Tribunal, Ministry of Law, Justice and Company Affairs, Govt. of India in the rank of Additional Secretary, Govt. of India. He is also on the Editorial Board of selected orders of ITAT (SOT). A prolific writer, he has authored many books on Direct Taxes and regularly contributes articles on tax matters in various journals, newspapers and frequently makes his presence on various television channels.

To develop Internationally comparable infrastructure with state of the art in house computer centers is his vision for ICAI. He envisages a fully equipped Role Model Board of Studies and he aims to pursue his mission with relentless passion and single-minded devotion and to bring it to fruition.