The Institute of Chartered Accountants of India(Setup by an Act of Parliament)

Volume - II March 2012l

Baroda Branch of Western India Regional Council ofThe Institute of Chartered Accountants of India

You can succeed best and quickest by helping others to succeed.

NewsLetter` 20/- Copy

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110002. Tel. : +91 (11) 39893989 E-mail : president@icai.org Web : www.icai.org

WESTERN INDIA REGIONAL COUNCILICAI Bhawan, 27, Cuffe Parade, Post Box No. 6081, Colaba, Mumbai - 400 005. Tel. : +91 (22) 39893989 Email : wirc@icai.org Web : www.wirc-icai.org

BARODA BRANCH OF WIRC OF ICAI “ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012. Telefax : +91 (265) 2681115 / 2680593 E-mail: baroda@icai.org Web : www.baroda-icai.org

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Dear Esteemed colleagues,

February 2012 saw the change of guard at the ICAI Delhi and an inspiring combination of sober leadership of CA Jaydeep Narendra Shah with firebrand enthusiasm of CA Subodhkumar Agrawal occupied the offices of President and Vice President respectively.

My first month as Chairman was sprinkled with many exciting programs. We had the proud privilege of being the first branch in the

Western region to felicitate the newly elected team at WIRC who graciously accepted our humble invite to be with us at a very short notice and members and students had the opportunity to meet our WIRC leaders for 2012-13.

CA Durgesh Kabra, Chairman WIRC along with CA Jay Chhaira, Vice Chairman WIRC and CA Anil Bhandari, Secretary WIRC witnessed the confluence of energies of Baroda, Anand and Bharuch branches as they inaugurated a Full Day Seminar on Contemporary Issues for Chartered Accountants and also felicitated the rank holders of CA exams and newly qualified CAs at the same function.

It gives me an immense sense of pride to share with you all, yet another victory of TEAM 2011. Baroda branch has been recognised as Best Branch of Western India Regional Council for the year 2011 and Baroda WICASA has been given the Best WICASA branch of WIRC. CA M J Parsiya with TEAM 2011 and my WICASA team 2011 deserve hearty congratulations for keeping the light of excellence illuminated to inspire the TEAM 2012.

Sports are an age-old mantra for fitness and to follow this mantra we organized two exciting cricket matches during the month. Members of Baroda branch had two unique teams as their opponents. One match was played with celebrities from film industry from the unit of the movie Palchhin which included well known film artistes Sanjay Suri and Chandrachura Singh amongst others at Motibaug ground. Our past chairmen and members in huge numbers were there to cheer for both the teams. The second match was against the team from our own fraternity of Surat Branch and we had an excellent match with a nail biting finish, conceding victory to Surat branch.

Each year new generation of CAs arrives whose transition from a student to a fully qualified professional is smoothened by programs such as Orientation of newly qualified CAs which was held by our branch during the month. This year 220 members participated from 10 different cities including Kolkatta, Bikaner and Jaipur and the program was a huge success.

A Public awareness program on e-Way Bills 402, 403 under Gujarat VAT was organized by Commercial tax department and was graced by 350 plus audiences.

Details of programs for the month of March are given in the newsletter and I hope members participation will be there as always.

We will begin with the festive celebration of” Holi”. Holi heralds the end of winter and the beginning of the spring. It is a joyous celebration of the rejuvenation of nature, and renewed hope of happiness and peaceful coexistence. My best wishes to all of you on the occasion of Holi..

CA. Pradeep Agrawal

MANAGING COMMITTEE

CA. Rajesh Shah Ex-officio 98250 41142

CA. Yash Bhatt 99243 88339Treasurer

CA. Pradeep Agrawal

Chairman 93272 4347998985 60967

CA. Ashish Parikh 98252 31545Vice Chairman

CA. Nayan Kothari Secretary 98244 33445

CA. M J Parsiya 98251 10620

Past Chairman

Immediate

CA. Viral Shah 98243 62211Member

CA. Arpan Dodia 98983 83530Member

CA. Hitesh Shah Member 99247 94693

CA. Pradeep Agrawal CA. Hitesh Shah

CA. Vishal Doshi CA. Ashok Thakkar

CA. Abhishek Nagori CA. Narendra Hindocha

CA. Bimal Bhatt CA. Neena Patel

CA. Nidhi Bhatt CA. Rachana Parikh

EDITORIAL TEAM

Index

In a profession, it is the individual unit, viz., the member, that forms the foundation of the structure and it is on the conduct and performance of such member that the success and reputation of the Institute rest. I appeal to each one of our members to actively associate himself with the activities of the Institute and thus advance the cause of the institute. As our motto indicates, let us be ever watchful of our interest wherever we may be, so that, it be said of us that we do our duty by the people and are not afraid of upholding all that is good, pure and beneficial in life irrespective of consequences.

thShri G. Basu, 2nd President of ICAI - 1952-53 in his message on 15 Sep. 1953

ICAI torch bearers of 2012-13 ......................... 02WIRC torch bearers of 2012-13 ....................... 02Forthcoming Events ....................................... 03Income Tax Updates ....................................... 04Lets Connect with ICAI.................................... 05Service Tax Updates ....................................... 05Announcements.............................................. 09Dimensions of Character ................................ 07ICAI Updates ................................................... 08Important Due Dates March 2012 .................. 08SA 8000 ........................................................... 09High-Tech Keychains ...................................... 10Photo Flash ....................................................... 11

NewsLetter

02

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

CA. Jaydeep Narendra Shah is the newly elected President of the Institute of Chartered Accountants of India. A combination of intellect, prudence and professional excellence, he was elected as a Central Council Member for the third term for the period from 2010 to 2013 after completion of 1st term from 2004-2007 and 2nd term from 2007-2010. CA. Jaydeep N. Shah has become the supreme torch-bearer of Indian accountancy profession by being elected as the President of the ICAI for the year 2012-13 by the 21st Council of the Institute on February 12, 2012. He has been a fellow member of the ICAI with more than 24 years of standing. Bestowed with exceptional organizational and administrative skills, he was serving as the Vice - President of the ICAI for the year 2011-12. CA. Jaydeep N. Shah passed M.Com from Nagpur University standing 1st in the order of Merit.He was awarded P. Satyanarayanan Gold Medal and Jawaharlal Nehru Memorial Award for Standing first in the order of merit in M.Com. He passed B.Com from Nagpur University Standing 8th in the order of Merit. CA. Jaydeep N. Shah was a member of Board of Studies, Accounts and Statistics Board of Nagpur University for 3 years. He was a visiting faculty to 47th IRS batch in National Academy of Direct Taxes.

He has also chaired various standing and non standing committees of ICAI at regional level, national level and International level also.

Profile of The ICAI President

CA. Jaydeep Narendra Shah

CA. Subodh Kumar Agrawal is the newly elected Vice-President of the Institute of Chartered Accountants of India(ICAI). He was a Central Council Member for the period 2007 - 2010 and was re-elected to the Central Council of ICAI for the second term from 2010-2013. CA. Subodh Kumar Agrawal passed Chartered Accountancy examination from ICAI in the year 1988. He did B.Com (Hons) from the Kanpur University. CA. Subodh Kumar Agrawal was the Chairman of EIRC of the ICAI (2006). He was the Vice Chairman of EIRC of the ICAI (2005). He was the Secretary of EIRC of ICAI (2004).

CA. Subodh Kumar Agrawal has delivered lectures at various seminars, symposia and Conferences organized by EIRC and by various study circles of the ICAI. He has also addressed other organizations on topics like Bank Audit, Corporate Governance, Micro Finance, NGO, Derivatives, Right to Information Act, CAAT, CARO, Accounting Standards, Auditing Standards, LLP etc. He has also chaired various standing and non standing committees of ICAI at regional level, national level and International level also.

Profile of ICAI Vice-President,

CA. Subodh Kumar Agrawal

WIRC Office torch bearers of 2012-13

CA Durgesh Kabra Chairman-WIRC

CA Jay Ajit Chhaira, Vice Chairman-WIRC

CA Anil Bhandari, Secretary-WIRC

CA Dinesh B. Gandhi, Treasurer-WIRC

CongratulationsCongratulations to CA Manish G Shah on being appointed as a member of "Regional Direct Tax Advisory Committee - Baroda" by Hon'ble CBDT.

Congratulations to CA. Milin Mehta on being elected as a Syndicate Member of The Maharaja Sayajirao University of Baroda

Congratulations to CA Minesh M. Shah on being elected as Senate member (Teachers Category) (uncontested) from M. K. Amin Arts and Science College & college of Commerce , Padra . (The Maharaja Sayajirao University of Baroda).

WIRC torch bearers for the year 2012-13 on 25.02.2012

Felicitations

Newly qualified Chartered Accountants &All India Rank Holders on 25.02.2012

ICAI torch bearers of 2012-13

Congratulations to CA. Satyakant H. Shastri on being elected as a Member of Board of Accounts of The Maharaja Sayajirao University of Baroda

NewsLetter

03

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

ForthcomingEvents

LIVE SCREENING OF UNION BUDGET-2012

Day & Date : Friday, 16.03.2012Time : 11.30 a.m. onwardsFees : Nil

Venue : Auditorium, ICAI Bhawan, Baroda

CPEHRS.2

FULL DAY SEMINAR ON STATUTORY AUDIT OF BANK BRANCHES

Day & Date : Saturday, 17.03.2012Time : 09:00 a.m. to 05:30 p.m.Fees : Members ` 600/- on or before 14.03.2012 and

`.750/- thereafter. Students/others ` 500/-

Venue : Auditorium, ICAI Bhawan, Baroda

Topics Faculties

Verification of B/s & P & L CA. Amarjit Chopra, Items with specific thrust Past President, ICAIon NPA Norms and Restructuring of Advances

Expectations of Central CA. Rahul Joglekar, Statutory Auditors from MumbaiSBA's - Do's & Don’ts for SBA -

Auditor Vis-à-vis CBS CA Ramesh Kedia, environment Ahmedabad

LFAR, Tax Audit Report CA. Mangesh Kinare, & Statutory Certificates RCM, WIRC

CPEHRS.6

ANALYSIS OF THE UNION BUDGET 2012 & AWARD CELEBRATION Day & Date : Sunday, 18.03.2012Time : 10:00 a.m. to 01:30 p.m.Fees : ` 300/-per person (followed by lunch)

Venue : Auditorium, ICAI Bhawan, Baroda

Topics Faculties

Indirect Taxes CA Anirudh Sonpal, Baroda

Direct Taxes Adv. Saurabh Soparkar

CPEHRS.3

PUBLIC PROGRAMME ON UNION BUDGET 2012

Day & Date : Monday, 19.03.2012Time : 10:00 a.m. to 12:00 a.m.Topic : Lecture meeting on Union Budget 2012Faculty : Adv. Mukesh Patel, AhmedabadVenue : Sir Sayajirao Gruh, Akota, Baroda

CPE Teleconferencing

Day & Date : Tuesday, 20.03.2012Time : 02.30 p.m. to 04.30 p.m.Topic : A Clause by Clause Analysis of Union Budget

2012Faculty : CA. (Dr.) Girish Ahuja, DelhiFees : ` 100/-per personVenue : ICAI Bhawan, Baroda

CPEHRS.2

STUDY CIRCLE MEETING

Day & Date : Wednesday, 21.03.2012Time : 06.00 p.m. to 08.00 p.m.Topic : Recent Issues under Capital GainFaculty : CA. Abbas GulamhusainwalaVenue : ICAI Bhawan, Baroda

CPEHRS.2

MY CHEF @ HOME-Program for Members, Spouse & Family

Day & Date : Saturday, 21.04.2012Time : 03.30 p.m. to 05.30 p.m.Topic : Dining Layouts, Party Menus & Interesting

recipes Faculty : Eminent personalities from Hotel Surya Palace Fees : ` 100/-per person (followed by Hi-Tea)Venue : Hotel Surya Palace, Sayajigunj, Baroda

LIVE WEBCAST FROM WIRC ON UNION BUDGET 2012

Day & Date : Monday, 19.03.2012Time : 05.30 p.m. onwardsTopic : Lecture Meeting on Union Budget 2012 /

Direct Taxes ProvisionsFaculty : CA Bansi S Mehta, Past President ICAIVenue : ICAI Bhawan, Baroda

CPEHRS.2

In an era of increasing usage of ‘plastic

money’ & Inernet - with an objective of better

services to members & students, Baroda

Branch is having facilities of Registrations for

seminar & conference by paying through

credit/debit card at ICAI Bhawan or visit

www.baroda-icai.org for online payment.

PAYMENT OPTIONS FOR PROGRAM REGISTRATION

e-paymentD r o p B o x a t 2 - B , Ramkrishna Chambers, BPC Road, Baroda. Kindly mention your name, membership number and program for which registration is sought, on back side of the Cheque

Join us on group Facebook Baroda Branch of WIRC of ICAIExchange views and news. Be updated about forthcoming events of Baroda Branch

VISIT TO INCOME TAX DEPARTMENT

Day & Date : Wednesday, 14.03.2012Time : 03.00 p.m. to 05.00 p.m.Topic : Interaction with Chief Commissioner and

Additional CommissionersVenue : Income Tax Department, Baroda

WICASA EVENTS

STUDY CIRCLE EVENT

BRANCH EVENTS

MOCK TEST FOR IPCC & FINAL STUDENTS

Date : 19.03.2012 to 29.03.2012Time : Schedule available on www.baroda-icai.org &

at ICAI Bhawan, BarodaVenue : ICAI Bhawan

NewsLetter

04

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

1. Budget for tax collection

2. Credit for tax deducted at source

From reading letter dated 7th February, 2012, addressed by the Chairman of CBDT to the Directors and Commissioners of Income-tax(reproduced on itatonline.org), it would appear that the tax collectors are being persuaded and pushed vigorously to chase the budgeted collection which appears to be far short of the actual collections. It states that achievement of revenue collection target will be given the highest weightage while writing the Officers’ appraisal reports, that it will also be a major factor while considering placements and that achieving the budget target is non-negotiable.

You can reasonably expect refusal to stay demand which ought to be stayed, coercive action when not warranted, delays in rectification, refunds and appeal effects and sometimes even disposal of appeals being influenced by the collection fever.

While one would appreciate unearthing of black money and all efforts to that end, it would appear wrong to push for higher total collection. This is for the reason that tax collection depends on income of taxpayers and the rate of tax, both beyond the control of the tax collector.

By INSTRUCTION NO. 01/2012 [F.NO.225/34/2011-ITA.II], Dated February 02, 2012, CBDT permitted granting of credit for Income-tax deducted at source even in cases in which the c la im was not in accordance with the Income-tax d a t a b a s e s , i n f o l l o w i n g circumstances:

In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in

26 lac, the TDS claim may be accepted without verification unless it is a case of invalid TAN or zero TDS matching. However, in case of returns of ITR-1 and ITR-2, credit may be allowed in full, even if there is zero matching, if the total TDS claimed is Rs. Five thousand or lower.

In all other cases, TDS credit shall be allowed after due verification.

Let us hope this does not lead to large scale fraud as happened in the period prior to efiling and epayment systems.

In a significant decision in the case of M/s Topman Exports v/s CIT along with large number of other cases, reversing the decision of Bombay High Court, the Supreme Court held that :

- DEPB is granted to nullify custom duty element and hence is to be considered as cash assistance in terms of clause (iiib) of Section 28 at the time of accrual of the benefit.

- In the event of subsequent sale of DEPB, it is only the difference between the DEPB credit and the sale value of the DEPB credit (and not entire sale price of DEPB) which can be considered the profit on transfer of DEPB under clause (iiid)

The consequence is substantially larger deduction under section 80HHC and deletion of large part of demands raised on exports in consequence of retrospective amendment with effect from 1-4-98 made by Taxation Laws Amendment Act, 2005 in section 80HHC(Source: itatonline.org)

In case of DICGC, the issue before the ITAT Mumbai was disallowance under section 40(a) on account of failure to deduct tax at source. One of the pleas by the assessee was that the payee had subsequently paid tax applicable in his case and the deductor was no longer liable to pay the tax deductible,

AS data does not exceed Rs. One

3. Deduction under section 80HHC with reference to DEPB

4. Disallowance under section 40(a)

in view of the decision of Supreme Court in case of Hindustan Coca Cola Beverage Private Limited. Hence the disallowance should not be made considering that the purpose of section 40(a) stood achieved without disallowance. The plea was rejected on the ground that the decision of Supreme court related to a different provision of law and the disallowance prescribed under section 40(a) should be applied without looking into the purpose of the provision. The other plea that the disallowance should not be made based on decision of Bombay High Court in case of Kotak Securities considering that the appellant believed that TDS was not appl icable, was accepted for Assessment Year 2007-08 but not accepted for A.Y.2008-09 on the ground that disallowance was made for the first time in A.Y.2006-07 and the fact of disallowance was not known at the relevant time as far as A.Y.2007-08 is concerned but was known as far as next year is concerned. I consider this as upholding of an unfair provision. (Source: itatonline.org)

Penalties are generally levied in case of survey even if the additional income detected during survey is offered by the assessee in the return of income. While disclosure in the r e t u r n i n c o n s e q u e n c e o f unaccounted income found during search may attract penalty by virtue of specific provision in section 271(1)(c), there is no such provision as regards income found during survey. Hence there should not be any penalty for income which is disclosed in the return although such income would not be disclosed if survey was not done. Penalty in such a case is similar to punishing a person for merely a thought of wrong doing without actual wrong doing. It is so h e l d i n c a s e o f C I T V. S A S Pharmaceuticals (335 ITR 259).

5. Penalty in respect of income found during survey

Income Tax Updates

Compiled by CA. Narendra Hindocha, Baroda

NewsLetter

05

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

Compiled by CA. Abhishek Nagori & CA. Neena Patel

“Opportunities multiply as they are seized and the ability to seize them becomes your capital asset.” A Chinese proverb.

Let’s connect with ICAI is a monthly series to highlight opportunities that are available for a professional within our own Institute. This month we bring to you two areas which are interesting as well as creative.

The Central Council of the Institute of Chartered Accountants of India has constituted the Financial Reporting Review Board (FRRB) in July 2002 as one of its non-standing committees.

The FRRB has been reviewing the general-purpose financial statements of certain enterprises and auditors’ reports thereon with a view to determine, to the extent possible:

(a) Compliance with the generally accepted accounting principles in the preparation and presentation of financial statements;

(b) Compliance with the disclosure re q u i re m e nt s p re s c r i b e d by regulatory bodies, statutes, rules and re g u l at i o n s re l eva nt to t h e enterprise; and

(c) Compliance with the reporting obligations of the auditor.

The FRRB may review the general purpose financial statements of the enterprise and the auditor’s report thereon

a) either suo motto or on a reference made to it by any regulatory body like, Reserve Bank of India, Securities and Exchange Board of India, I n s u r a n c e R e g u l a t o r y a n d Development Authority, Ministry of Corporate Affairs, etc. or

b) in the cases relating to which serious accounting irregularities in the g e n e r a l p u r p o s e f i n a n c i a l statements have been highlighted by the media reports.

Empanel as Technical Reviewer with Financial Reporting Review Board

Eligibility

How to apply

Empanelment of Resource Persons for Investor Awareness Programmes

The Technical Reviews are to be carried out by Reviewers empanelled with the FRRB. A Technical Reviewer: -

(a) is a members who possess 10 years’ experience of audit and /or possess 10 years’ experience in the f i n a l i s a t i o n o f a c c o u n t s o f enterprises that are under the purview of the FRRB;

(b) members who are currently active in the practice of accounting and auditing or are currently working in the enterprises that are under the purview of the FRRB; and

(c) should furnish a declaration as prescribed by the Board, at the time of submitting empanelment form regarding confidentiality, conflict of interest and independence.

Members fulfilling the criteria mentioned above can empanel themselves as Technical Reviewers by applying in the prescribed format.

The form is available at ICAI Website www.icai.org at :

http://220.227.161.86/18313empanelmentformfrrb.pdf

It can also be obtained from the ICAI’s Office at New Delhi. This form can be completed and sent by post/courier to the Secretary, Financial Reporting Review Board, the Institute of Chartered Accountants of India, 'ICAI BHAWAN', Post Box Number 7100, Indraprastha Marg, NEW DELHI - 110 002, India.

To know more about FRRB write to frrb@icai.org or visit the following link: http://www.icai.org/new_post.html?post_id=969&c_id=61

The Committee on Financial Markets and Investors’ Protection (CFM&IP) is one of the Non-Standing Committees of the Institute. The functions of the Committee include spreading awareness among the investors about their r ights and responsibilities besides preparing suggestions on various regulations /

circulars relating to Financial Markets for submiss ion to the Government/ Regulators.

The Institute of Chartered Accountants of India has been designated as the nodal authority by the Ministry of Corporate Affairs, Government of India through the Institute’s vast network of Regional Councils and Branches during the year 2011-12

The CFM&IP invites proposals from members who possess public speaking skills and have flair for capital market and act as Resource Persons for conducting the Investor Awareness Programmes. The resource persons would conceive, plan and organize such programmes of two hours duration in small towns (other than district headquarters) at their own initiative. Arranging venue, assembling at least 50 participants per programme and disseminating financial literacy will be their key responsibilities. For this, MCA will pay a lump sum amount of Rs. 5000/- per programme inclusive of TA/DA and honorarium of the Resource Person.

This is an interesting opportunity and members can send their detailed profile along with names of the towns where they can conduct such programmes to the Chairman, Committee on Financial Markets and Investor’s Protection, the Institute of Chartered Accountants of India, A-29, Sector 62, Noida 201309 Ph:09350799912,0120-3045905/945 or e-mail to cfmip_rp@icai.org.(Source: www.icai.org; The Chartered Accountant- ICAI Journal)

Let’s Connect With ICAI

Compiled by CA. Anirudh Sonpal

Service TaxUpdates

I. Works Contract Valuation

Circular 150/1/2012-ST dated 8-2-2012 has clarified that the value of w o r k s c o n t r a c t u n d e r t h e composition scheme will not include the value of free issue of materials in respect of contracts whose executed commenced prior to 7-7-2009 or where the consideration was received prior to the notified date.

NewsLetter

06

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

II. Service Tax On Construction Services

III. Service tax on toll fee collected for use of roads

Circular 151/2/2012-ST dated 10-2-2012 has clarified on the taxability and valuation with reference to different models and arrangements under which the construction contracts are executed. The different models and arrangements include tripartite agreements, redevelo-pments and slum rehabilitations, investments, conversions, BOT and joint developments.

Circular 152/3/2012-ST dated 27-2-2012 has clarified that service tax is not leviable on toll charges collected from the user of roads constructed by an SPV under PPP model or BOOT arrangement. However, if an agency is appointed by the SPV for the toll collection and is paid commission for the toll so collected, the said agency will be liable to pay service tax under Business auxiliary services.

Baroda Branch of WIRC of ICAI is planning to organize below Training/Certificate Courses/Post Qualification Courses during the year 2012 provided we get minimum participants. So desired members are requested to register their names with Baroda Branch on 0265-2681115 / 2680593

E-mail: nayan.r.kothari@icai.org

For more details on course content, please visit

http://www.icai.org/new_post.html?post_id=3581&c_id=81

oCertificate Course on Indirect Taxes

oCertificate Course on Enterprise Risk Management

oCertificate Course on Internal Audit

oCertificate Course on Master in Business Finance

oCertificate Course on Forensic Accounting & Fraud Detection using IT & CAATs

oCertificate Course on International Financial Reporting Standards

CERTIFICATE COURSES FOR MEMBERS :

Announcements

oTreasury Management

oCertificate Course on Derivatives

oCertificate Course on Valuation

oCertificate Course on Arbitration

oCPE Course on Computer Accounting and Auditing Techniques (CAAT)

oDiploma in Insurance and Risk Management (DIRM)

oManagement Accountancy Course (MAC)/ Corporate Management Course (CMC)/ Tax Management Course (TMC)

oInternational Trade Laws & World Trade Organisation (ITL & WTO)

oERP Courses on SAP FA & MA Module, Microsoft Dynamics NAV

oPeer reviewer training

Baroda Branch of WIRC of ICAI please to announce the Certificate Course on International Taxation of ICAI at Baroda starting from 23rd of March,2012 March, concluding by 13th of May,2012. (reserving days for Bank audits from 1st of April to 12th of April,2012). Maximum batch size is 35 members and we are happy to announce that we are likely to close the first batch on Certificate Course on International Taxation considering the overwhelming response.

We are planning 3 days in a week :

Friday : half days Saturday : few half days and few full daysSunday : almost all half daysCourse Fees : Rs. 25000/- CPE hrs. : 100

Proposed faculties:

CA. Mahesh P. Sarda CA. Vishal GadaCA. Rashmin Sanghvi CA. Hitesh GajariaCA. Mayur Nayak CA. Kishore KariaCA. Girish Kumar Ahuja CA. Kapil GoelCA. Mitil Choksi

Broad objectives:

(1) Consistent with the over-riding objective of Post-qualification courses, the Certificate Course on International Taxation is designed to provide a visible means of having acquired specialized knowledge in all aspects of the international taxation.

Certificate Course on Forex and

POST QUALIFICATION COURSES :

CERTIFICATE COURSE ON INTERNATIONAL TAXATION

(2) As far as possible the emphasis will be on a problem-solving approach to assist management decision-making and managing the practice of international taxation.

This course recognises the need of practical exposure along with theoretical knowledge and provides for a Workshop of 100 hours. The course aims at enhancing the knowledge as well as competency level of the members of the Institute to enable them to compete in the global market.

Interested members are requested to register their names to Mr. Amar Basva (DCO Office) (Phone: 2680593, 2681115 & Mobile: 09825718576). Minimum batch size is 35 members to conduct the Certificate Course on International Taxation of ICAI at Baroda.

For more details about the course including course curriculum, registration form, online payment etc. click on http://www.icai.org/post.html?post_id=3859.

In the present

days, NGOs play crucial role relating to social and charitable activities and thereby sharing the responsibility of the Government by providing educational, medical and other charitable services to public at large. Hence this sector needs special focus in the present scenario, specifically when Gujarat Government has set up separate Public Trust Act in the State of Gujarat. There is vital role and responsibility of all the trustees who are offering their services through NGOs. To support such good cause, Baroda Branch of WIRC of ICAI with the active support of United Way of Baroda had conceptualized the “CHARITABLE CLINIC” for NGOs under which practicable issues and difficulties of NGOs shall be resolved by eminent chartered accountants, who have expertise in this field at free of cost. This Charitable Clinic was proposed to be operated on monthly basis. For the Month of March-12, Clinic is scheduled on 23rd March, 2012, Saturday, 3.00 p.m. to 5.00 p.m. at United Way of Baroda -9th Floor Sidcup Towers, Race Course, Baroda -390007 also queries will be resolved by CA. M V Shah & CA. Samir Parikh.

CHARITABLE CLINIC:

NewsLetter

07

BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

Compiled by CA. Bimal R. Bhatt

Dimensions of Character

The main emphasis of most of the corporate evaluation models is on performance. However, in an integral perspective, performance alone is not sufficient for evaluating a corporate leader. In the contemporary corporate environment where ethics is becoming an important factor and some of the high-performing executives are coming under critical scrutiny for ethical violations, we must add one more important dimension: Character. This article provides a brief perspective on the facets of character and some important indicators for assessing character.

The Meaning of Character

This brings us to the question what is this allusive quality called “Character” or to be more precise good, noble or wholesome character. In popular conception, character is associated with morality or sexual morality. However for corporate leadership we need a broader framework which includes ethics and also other qualities related to the total development of the personality. In this integral perspective, character is the inner foundation of long-term sustainable performance. We may look at character in terms of the following dimensions:

1. Life Governed by Higher Values: Constant aspiration for and a life of work and action governed by higher values like truth, beauty, goodness, harmony and unity.

2. Integrity of the Personality: Honesty and integrity in thought and speech and a consistent harmony in thought , fee l ing and act ion organized around higher values.

3. Light and Calm in the Mind: Clarity in thinking and the ability to remain calm and undisturbed in al l circumstances, especially in difficult and crisis situation.

4. Caring Heart: Kindness, generosity and compassion in the heart oriented towards the well-being of people and the society.

5. Courage, Energy and Force in the Vitality: Courage to admit mistakes, explore the unknown and confront threatening situation; ability to sustain high-level of energy for prolonged period; forceful in execution of the idea.

6. Firmness and Strength in Will: Unyielding persistence in will in following a course of action or decision to its material conclusion; firmness in upholding values and principles.

7. S e l f - a w a r e n e s s a n d S e l f management: Knowing self and mastering self.

8. Mastery over ego: Ability to rise beyond the self-interest, ambition and greed of the ego and serve a higher cause or well-being of the larger whole.

The most visible indicator of character is outer behaviour. But assessment of inner character should not be based entirely on outer behaviour. A clever and cunning person can hide all his dubious or dark motives behind a pleasant or noble outer appearance and behaviour. We must look for more subjective indicators.

Another important factor we have to keep in mind in evaluating character is that we, human beings, are an imperfect organism. Very few people are perfect in all the dimensions of character. When we examine the lives of great leaders of the world who have contributed significantly to human progress, we will find most of them had some defects or flaws in their character or personality.

As Sri Aurobindo points out: “Great are not usually models of character... men with great capacities or a powerful mind or a powerful vital have very often glaring defects of character than ordinary men. Great men have more energy and the energy comes out in what men call as vices and what men call as virtues... vices are simply an overflow of energy in unregulated channels.”

So a too heavy emphasis on external morality in assessing character may

How to Assess Character?

exclude people with great capacity for thought, action and execution, which are essential for effective leadership in the corporate world. We can’t expect a modern corporate leader to be a perfect or a sattwic saint. An effective corporate leader has to be essentially or centrally a rajasic man or woman of action governed by sattwic values. And a strong rajasic personality may have some defects in his or her external character. We should not give too much importance to such minor flaws of character in surface nature.

Here is an illustrative Zen story on the subject. Someone comes to a Zen master and starts criticizing another Zen master, pointing out defects in his character. The master asks one of his disciples to bring a large white sheet. With a pen he puts a black spot on the paper and asks the person, “What is this?” He replies, “A black spot.” The master replies with a smile: “You are not able to see the large white expanse in the sheet but only the black spot. Your criticism of the other master is of the same kind. You are not able to feel the large greatness and nobility of his being but looking at some small and trivial defects in his surface being.”

Thus, in assessing character our aim must be to discover the extent of the white expanse of positive qualities behind whatever small black spots in the external personality. But how to do it? What is the method or process? The most effective way to assess character is through intuition. Someone who has good character can intuitively feel the quality of character in the other person. And the highest form of intuition is knowledge by identity which means the ability to know the object of knowledge by becoming one with it in consciousness. In understanding a person, knowledge-by-identity means the ability to identify with the inner being of the person and know his thoughts and feelings and motives. This capacity for intuitive knowledge can be developed by appropriate discipline and this discipline can be incorporated in management education and leadership development programmes.

Along with intuition, we may also have to use more external methods. For example

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probing personal interviews with people who interact everyday with the person, when they are conducted with sufficient tact and skill and with a clear objective of assessing character, can reveal things behind outer appearances.

The other indicator of character is the total impact of the leader over a period of time on the social, mental and moral character of the community he is leading. A leader with a strong and great character can elevate the character of a community as a whole. For example during the Indian freedom movement, leaders with great character like Sri Aurobindo, Gandhi, Tilak a n d B a n k i m r a i s e d t h e m o r a l consciousness of the entire nation. Similarly in the corporate world, in the Tata Group in India, the strong moral foundation laid by the founders of the group, and later J.R.D. Tata, made the group well known for its ethics and values.

However this domain of evaluating character is a difficult task which requires much research and thinking from the management scholars and professionals. But first, the corporate mind must feel the importance of character for effective leadership and the need for assessing it. When this need is there, then the mind in business, which is very active and innovative, will evolve a system through research, thinking and experimentation.

(Source: Fourth Dimension Inc. Sri Aurobindo Society)

ICAIUpdates

ICAI Requests Members to Share Hardship Being Faced with Regard to TDS Returns. - (18-02-2012)

The Direct Taxes Committee of ICAI makes suitable representations to the Central Board of Direct Taxes or other appropriate bodies on various issues arising out of direct tax laws from time to time which are brought to the notice of the Committee by the members.

Recently, it has been brought to the notice of Direct Taxes Committee that demand notices are being served on the Deductors on account of various possible reasons. The said matter was placed by ICAI before the Central Direct Taxes Advisory Committee in its meeting which was chaired by Hon’ble

Finance Minister Shri Pranab Mukherjee. Considering the fact that there may be other difficulties which are being faced owing to rectification of TDS returns the ICAI was requested to compile all such difficulties being faced by the assessees and discuss the same with appropriate authorities.

Thus, the members were requested to share the difficulties, if any, being faced in respect of demand notices, rectification of TDS returns etc at:

dtc.memoranda@icai.org.

The issues so received will be compiled and considered by the Committee for making appropriate representation.

Report on Implementation of Accounting Standards in Educational Institutions of Department of Higher Education, Ministry of Human Resource Development was presented to Shri Kapil Sibal, Hon’ble M i n i s t e r f o r H u m a n R e s o u r c e Development, Government of India

Considering that presently, the accounting and financial reporting practices of educational institutions in India are oriented towards meeting the needs of the governing bodies running them and educational institutions follow not only diverse accounting practices but also different basis of accounting, the Group has recommended that all educational institutions should be mandated to apply accrual basis of accounting; Accounting Standards issued by the ICAI should be made mandator y to educat iona l institutions; Fund based accounting may be introduced for Earmarked / Designated Funds; All educational institutions should follow a common format for presentation of its general purpose financial statements to ensure proper accountability, financial discipline, end-use of funds and to meet the needs of stakeholders. It is also recommended that the statutes having specific formats for financial reporting by educational institution may also modify the same in line with the suggested formats and Ministry of Human Resource

Report submitted to Shri Kapil Sibal, H o n ' b l e M i n i s t e r o f H R D o n Implementation of Accounting Standards in Educational Institutions of Department of Higher Education, Ministry of Human Resource Development.

Development in coordination with ICAI s h a l l o rga n i s e ca p a c i t y b u i l d i n g programme to train the staff of educational institutions.

In the wake of the ongoing demand from various groups and political parties to bring the black money in the overseas market, ICAI constituted a Group to provide necessar y inputs/sug gest ions on effectively addressing the issue of menace of black money, benami transactions and related issues in view of public interest attached. It was an initiative taken by the Institute independently as this issue is of national concern.

Group formed to address the issue of Black Money

IMPORTANT DUE DATES for March 2012

Compiled by CA. Abhijit Kotecha

Compiled by CA. Ashok Thakkar

“…..it is the duty of the every member of the institute to ensure that he fulfils the high ideals set before him amidst all the pressures and temptations of the day. I am glad to know ….that you are fully alive to your responsibilities. It is only watchful eyes of the members of your profession which can make any measure that Government may take to curb malpractices in trade and business, really effective.Shri C.D. Deshmukh, First Indian RBI Governor(1943-49); Union Finance Minister of India(1950-56) (at ICAI Council Annual Meeting, August 1951)

First Indian RBI Governer Shri C. D. Deshmukh

DATES COMPLIANCE PERIOD

05.03.12 Service Tax / Excise Duty Payment Feb. 2012

06.03.12 Service Tax / Excise Duty E-Payment Feb. 2012

07.03.12 TDS Payment Feb. 2012

10.03.12 VAT / CST E-Return (For VAT or CST > ` 5,000/-) Q3 - 2011

10.03.12 Excise Returns Feb. 2012

15.03.12 Advance Income Tax 3rd/4th Inst.15.03.12 Professional Tax /

PF Payment Feb. 2012

15.03.12 VAT / CST E-Return Q3 - 2011

21.03.12 ESIC Payment Feb. 2012

22.03.12 VAT / CST E-Payment Feb. 2012

26.03.12 PF Return Feb. 2012

31.03.12 VAT/CST E-Return (For VAT or CST <= ` 5,000/-) Jan. 2012

31.03.12 Service Tax Payment Upto Mar. 2012

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What is SA 8000?

Why was SA 8000 developed?

Who develops SA 8000?

• SA 8000 stands for Social Accountability 8000.

• Released in October 1997, the Social Accountability 8000(or SA 8000) Standard is the first global ethical standard.

• SA 8000 has been developed based on the conventions of the International Labour Organization, the Universal Declaration of Human Rights, as well as the United Nations Convention on the Rights of a Child. It is applicable to all companies regardless of scale, industry and location

• Its objective is to ensure ethical sourcing and production of goods and services.

• Consumers and other stakeholders have become increasingly concerned about whether products have been manufactured under conditions of violation of human rights, child labor and discrimination – as often reported by the media.

• The existing management of many companies cannot adequately cope with the myriad demands imposed by labour laws, codes of conduct of individual companies, as well as their stakeholders.

• A greater challenge is to effectively monitor whether the manufacturers and suppliers have implemented

• SA 8000 is developed by the SAI - Social Accountability International, an affiliate of the Council on Economic Priorities (CEP). SAI is situated in New York, USA.

• SAI was established in early 1997. It convened a group of experts for an Advisory Board. The Board is responsible for drafting the SA 8000 standard, as well as providing direction and recommendation regarding the function, operation and policy of SAI.

• SAI ’s Advisory Board inc ludes re p re s e n ta t i v e s f ro m u n i o n s , organizations for human rights and

SA 8000 children’s rights, academia, retailers, manufacturers, contractors, non-g o v e r n m e n t a l o r g a n i z a t i o n s , consultants, accounting firms, as well as certification bodies.

• Enable companies to develop and implement effective labour practices

• Enhance long term relationships between the company and its stakeholders

• Achieve international standard and enhance credibility

• Generate positive sentiment for the company and its products

• Reduce the number of second party audits of suppliers

• Child labour is never allowed. (less than 15 years age)

• Young workers may be employed, but must be granted special protection. (between 15 to 18 years)

• Worker has the right to choose their workplace

• Freedom to leave the workplace after working hours

• Freedom to resign

• All necessary precautions are taken to mitigate work-related risks

• Workers are trained in use of Personal Protection Equipment (PPE) and dangers of non-use.

• Freedom to leave the workplace after working hours

• Freedom to resign

Since our company is OHSAS 18000 certified company, hence auditors will check our systems under OHSAS 18000, to satisfy themselves that we are taking adequate measures for Health & Safety.

• People have the right to be heard at work, bargain collectively and organize

• Management cannot interfere against workers who choose to organize

• Worker Representatives must have access to management

• People should be solely hired,

Why become SA 8000 certified?

Birds view to clauses of SA 8000

1. Child Labour :

2. Forced Labour :

3. Health & Safety :

4. Freedom of Association & Right to Collective Bargaining:

5. Discrimination :

promoted and compensated based on their ability to do the job.

• All workers should have equal access to training, tools and opportunity for advancement.

• Company shall not discriminate in Hiring, remuneration (i.e. equal pay for equal work), access to training, Termination or retirement promotion, based on caste, creed, race, religion, gender etc .

• Company has right to take appropriate action as provided in the statute.

• Companies should not resort to practices of Corporal Punishment, Physical / mental coercion & verbal abuse.

• Company should define working hours, as required under the statute (read Factories Act - in our case) & should communicate the same to al l employees.

• Normally a working week shall not exceed 48 hours & each employee should get a Weekly off.

• Overtime is limited, voluntary and paid at a premium wage

• The company should ensure that the wages paid to workers are at least Minimum Wages as defined under the statute.

• Wages must be understood by workers, Paid in a convenient manner, Paid in a timely and regular fashion, accurately calculated and paid in accordance with contract.

• Top Management shall define the c o m p a n y ' s p o l i c y f o r s o c i a l accountability and labor conditions.

• Top management shall periodically review the adequacy, suitability and continuing effectiveness of the company's policy, procedures and performance.

• It is the responsibility of company to e n s u re t h at co nt ra c to rs , s u b contractors, Suppliers of the company should comply with

a) Statutory requirements &

b) Clauses of SA 8000

6. Disciplinary Practices:

7. Working hours :

8. Remuneration:

9. Management System:

Social Compliance and its relevance on current manufacturing system

Contributed by Members in Industry Working Group

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Keychains Technology has come a long way from the giant, warehouse-size computers of yesteryear. In fact, technology has come so far that tons of super-advanced devices can fit right on your keychain. Here are some high-tech keychain devices, from Wi-Fi signal finders to GPS devices to tiny cameras and digital photo frames.

Cobra Tag

The Cobra Tag ($80) provides a high-tech way to avoid ever losing your keys again. This sensor attaches to your keys (or bag) and enables you to locate it when you use the associated app on your Android or BlackBerry phone. Cooler still, it's a two-way finder: Tap the button on the Cobra Tag, and your smartphone will ring.

Magellan Weather Station Keychain

Magellan's Weather Station Keychain ($22.50) is the perfect gadget for outdoorsy types. Attached to a heavy-duty carabiner, the Weather Station Keychain supposedly can forecast the temperature and humidity anywhere in the world, and also features an alarm clock, calendar, compass and built-in LED light.

FlipSync Keychain Charge and Sync Cable

Ever find yourself with a dead device and a USB port, but no cable? If so, you may want to check out the Scosche FlipSync II Charge and Sync Cable ($18). The FlipSync, which comes in two versions -- one for Micro- and Mini-USB devices, and one for iPhones and iPods -- is a tiny USB cable that folds into itself and fits conveniently on your keychain.

Lomo VistaQuest VQ-1015 Digital Keychain Camera

Thanks to your smartphone, you might not need a portable digital camera these days. But if you do, consider the Lomo VistaQuest VQ-1015 Digital Keychain Camera ($94). This 1.3-megapixel camera measures 2.3 inches wide by 1.5 inches tall by 0.8 inch thick. It has an SD Card slot, runs on a single AAA battery and comes in several colors.

Compiled by CA. Rahul Parikh

High-Tech Lil' Piggy Power Bank

The Lil' Piggy Power Bank ($36) is a a solar-powered rechargeable 800mA lithium battery that can charge your iPod or iPhone using stored solar power. You can charge the Lil' Piggy Power Bank with solar energy (14 to 18 hours for a full charge) or by USB transfer (two to three hours). A Mini-USB port connects the battery to your iPhone, iPod or other mobile device.

Appeal for the

Scheme for CA Students

Financial Assistance

Dear Members,

The Baroda Branch of WIRC of ICAI has a strong tradition of providing CA Students of Baroda, the best tools and support in achieving their goal of becoming Chartered Accountants. With the active help of its Members, the Baroda Branch of WIRC of ICAI has been since past few years providing needy CA Students with financial assistance so as to enable them to meet a part of their estimated education costs.

• Financial Assistance would be available to eligible Students at all levels as under:

oCPT Students : Rs. 3,000/- (For t h e e n t i r e t e n u r e a s C P T Students)

oIPCC Students : Rs. 10,000/- ( For the entire tenure as IPCC Students)

oFinal Students : Rs. 10,000/- ( For the entire tenure as Final Students)

The above financial assistance has been computed with an aim of e n a b l i n g s t u d e n t s t o m e e t approximately 50% of their fees through such financial assistance.

• In case of CPT Students, financial assistance shall be made available directly to the Students by the Branch by meeting a part of their Registration Fees i.e. Rs. 3,000/-. This financial assistance shall be provided by the Branch from the C. D. Amin & R. J. Parikh Fund, Shantaben R. Parikh

Fund and such further earmarked Funds that may be created from donations received by the Branch.

• In case of IPCC Students and Final Students, the Branch shall act as a facilitator and refer eligible Students directly to CA Members who have expressed their interest in providing financial assistance as stated above to students referred to them by the Branch.

The Branch seeks its Members’ active support in successful continuation of the above Scheme. Members who would l ike to contr ibute towards the Earmarked Funds for financial assistance to CA Students or Members who would like to provide direct financial assistance to IPCC Students & Final Students may kindly contact CA Pradeep Agrawal, Chairman (9327243479). The Branch shall be maintaining a list of such members and on receipt of request of financial assistance from students, after evaluating their eligibility, the Branch shall refer such student to the Member, who then shall provide direct financial assistance to such student under intimation to Branch.

Again, I seek your valued support and request you to contribute generously to this noble initiative.

With regards,

CA Pradeep Agrawal, Chairman, Baroda Branch of WIRC of ICAI

Sr. Names Amt. `

1 CA. Abhishek Nagori 10,000

2 CA. Ashok Thakkar 10,000

3 CA. Darshan Bhutwala 10,000

4 CA. Jay Chhaira 50,000

5 CA. Manish Baxi 20,000

6 CA. Mayur Swadia 10,000

7 CA. Neena Patel 52,000

8 CA. Rahul Parikh 10,000

9 CA. S.R Parikh 20,000

10 CA. Vinod Kansara 9,000

Worthy

Contributors - 2012

Cricket Match with Palchinn team on 04.02.2012

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BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

ORIENTATION FOR NEWLY QUALIFIED CHARTERED ACCOUNTANTS ON 08.02.2012

FULL DAY SEMINAR ON CONTEMPORARY ISSUES ON 25.02.2012

CA Nihar Jambusaria, Mumbai

CA Mukesh Trivedi,Baroda

CA Girish Raman,Mumbai

Open House Session with Service Tax DepartmentDr. D D Rishi, CCE & his team

CA. Chirag Dalal,Ahmedabad

WORKSHOP FOR ACCOUNTANTS PART - I & II ON 16.02.2012 & 23.02.2012

CA Hitesh Agrawal, Baroda CA Chandresh Chheda, Baroda CA Kejal Pandya, Baroda CA Rachit Shah, Baroda

SPORTS EVENTS

CA Rahul Parikh,Baroda

CA Prasanna Tilak,Baroda

Mr. Shant Mankodi,Baroda Cross Section of Audience Interview in progress on 22.02.2012

CAMPUS PLACEMENT

STUDY CIRCLE EVENTSWICASA EVENTS

Antakshari on Valentine Day Brain Trust Session CFO Conclave on 24.02.2012 Birthday Celebration on 24.02.2012

Shri Vinod Rao, Collector of Vadodara City on01.02.2012

Public Awareness Program by GVAT Dept. on 24.02.2012

9th ISA Batch in Progress Jan - Feb 2012

Vadodara Marathon on 05.02.20122nd Cricket Match with Surat Branch on

19.02.2012

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BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

MAR. 2012VOLUME - II

If undelivered, please return to :

Baroda Branch of WIRC of The Institute of Chartered Accountants of India

www.baroda-icai.org WIRC : www.wirc-icai.org ICAI: www.icai.orgl l

DISCLAIMER : The ICAI and the Baroda Branch of WIRC of ICAI is not in any way responsible for the result of any action taken on the basis of the advertisement published in the Newsletter. The members, however, may bear in mind the provisions of the Code of Ethics while responding to the advertisements. The views and opinion expressed or implied in the Newsletter are those of the authors / contributors and do not necessarily reflect those of Baroda Branch. Unsolicited matters are sent at the owner's risk and the publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whether in part or in whole, without the consent of Baroda Branch. Members are requested to kindly send material of professional interest to baroda@icai.org/cahitesh2008@gmail.com. The same may be published in the newsletter subject to availability of space & editorial editing.

Back Cover (4 color) 10,000 Inside Front/ Cover (4 color)Back 7,500 Full Page (1 Color) 5,000 Half Page (1 Color) 3,000

ADVERTISEMENT TARIFF : * Discount - 3 to 6 issue of 10%, 7 to 12 issue 15% * Circulated to more than 1400 Chartered Accountants

ADVERTISEMENTS : The tariff for advertising given below are duly approved by the Managing Committee of the Baroda Branch. Advertisements are received directly by the Branch and no advertising agency has been appointed for this purpose.

SUBSCRIPTION RATES : This Newsletter is circulated without any charges to its members and other important categories of recipients as per ICAI Advisory on Newsletters. Subscription rate is Rs. 20/- per issue for others.

PRINTED AND PUBLISHED BY : CA. Pradeep Agrawal on behalf of Baroda Branch of WIRC of ICAI. Published at “ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012

Printed at Multiprints, 30/B, Gandhi Oil Mill Compound, Near BIDC, Gorwa, Vadodara - 390016. Ph.: 0265-2285592

“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012.

Telefax : +91 265 2681115 / 2680593 E-mail: baroda@icai.orgl

RECEIVED BEST BRANCH WICASA - BEST STUDENTS' ASSOCIATION OF INDIA AWARD FOR THE YEAR 2011 BARODA BRANCHOF WICASA RECEIVING AWARD FOR BEST BRANCH OF WICASA OF WIRC FOR THE YEAR 2011

BARODA BRANCH RECEIVING AWARD FOR BEST BRANCH OF WIRC FOR THE YEAR 2011