As per Income Tax act, a long term asset is that asset which is held for more than three years. And this long term asset, if sold Capital Gain is taxable @20% flat rate.
Friends articleship period in CA course is also of three years. And these three years are enough to make you a long term asset. Many of students usually criticize that three years period of articleship is a long period. But if we do analysis of these three years, majority of students take leave for approximately six months (four months for exams, one month for graduation exams &one month for other reasons). Now talk about remaining two and half year, six months require for a student to understand the work. What is remaining, only two years. Now ask yourself whether the period of 2 years is long? No not at all. As far as I think so it’s sufficient period to learn. Because its general saying anybody require one year for stability. And after that you have only one year for dive in the sea of knowledge.
Many of students take articleship as a burden & never serious about it. I have seen people complaining that nobody teach us how to do work. Our Boss is not supportive. Friends Friends Friends tell me are you INFANTS? NO, then why you require a person who hold your finger & make you walk.
Never forget “Opportunity never knock your door, you have to create it”.
Apply your mind and follow the rule of read & implement. Don’t forget that you are IPCC passout & had read audit & tax in IPCC. This is high time to apply in practical life what you read in books.
“GOD HELPS THOSE, WHO HELP THEMSELVES”.
You people are rough diamond & require to be polished. Your office is polishing centre & articleship is the period required to get diamond polished. Friends never forget that everybody has some unique qualities and also you have. These unique qualities make anybody different from crowd. But how one can recognize this uniqueness.
Your three golden years of articleship is enough to recognize your uniqueness. Explore yourself in these years. Learn real life experiences along with the professional experience. In these 3years work on yourself: hobbies, passion, interest& caliber. Do your SWOT analysis. Definitely you will able to understand what you are & where you will be?
WHY THIS ARTICLESHIP PERIOD IS GOLDEN PERIOD OF LIFE?
Let me tell you a common quality of great people “THEY HAVE A CLEAR VISION”. Difference between successful & unsuccessful is clarity of vision. If your vision is not clear you can’t achieve heights. Very first requirement is clear vision, than you can focus. This golden period helps you to make your vision clear. I have seen many people who create their vision during articleship period and do well in their life. Why? Because during articleship period they realize their strengths, make their vision & focus toward that. You have so many options after your degree but you have to choose right one. Otherwise results can be unfavorable. Think about that with a cool mind.
I always say “CA DEGREE IS ONLY A PASSPORT BUT NOT A VISA”.
CA degree doesn’t mean success. For getting success you require a clear vision, you have to choose best option from numerous options. Without this you can’t grow in real terms. Articleship period is the best period to think about yourself. It’s a right time to apply for ‘VISA’. It’s very perturbing for me to see that a person holding a most reputed professional degree of the biggest & democratic country INDIA is working for a very low salary. Main reason is that lack of vision.
Your articleship period is mainly depends on your boss. Generally the professionals are dominating type of person. They have no regard for anybody feelings & emotions. They are workolic & want to get their work at any cost. Most of students facing that kind of principal. Students dare to speak in front of them because they afraid of attendance, reputation, work etc. But my dear friends “To being a vegetarian doesn’t mean that lion will not eat you. Lion eat even vegetarian or non-vegetarian.”
Leave your innocency. Don’t get exploited. Speak with your boss if anything is going wrong with you or if you are in trouble. Gandhiji says “Every conflict can be resolved over a cup of coffee.” I have seen students who get scolded by their seniors & bosses because of their innocence & non daring nature. Usually students facing problems due to lack of communication. Never forget that your boss is also a human being. Whenever you want to say something, talk in a humble voice & tell him truth with confidence. Make a habit to interact & befriend with your boss.
One thing is really perturbing that students not pay respect to their boss. How they forget that a boss is also a teacher. You are at this stage because of your school & college teachers. We are living in that country where teacher is compared with god.
Poet Kabir Das wrote
“GURU GOBIND DOU KHADE KAKE LAGU PAYE,
GURU BALIHARI AAPNE JO GOBIND DIO MILAYE”
Well humble advice is that always pay regard to your boss. If he scold you, accept your mistake & improve it. He is your teacher, mentor, guider & motivator. And without him you can’t buildup your career (No doubt exceptions also exist).
Low stipend rates are also a biggest drawback. Higher salary after that degree also overcomes this problem.
One of the biggest advantage of articleship is life long friends. During articleship, you not only work with your staff but with client staff also. Meet different- different people. Some are of same nature & same have totally different nature. This helps you to find life long friends. This is another thing people find life partner in their articleship.
Sum up, articleship is a goldmine & it depends on you how much you can extract from it.
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DISCLAIMER: -Views expressed in the above article are personal in nature. These are based on my experience, knowledge, understanding and failures. Readers views may be different and don’t require any arguments.
Main purpose of the article is to discourage dummy articleship and help student to handle problems during articleship. Writer haven’t written this article for hurting anybody emotions and feelings. A humble appeal is don’t take anything personally and otherwise.