The Institute of Chartered Accountants of India (Setup by an Act of Parliament) Volume - V June 2012 l Baroda Branch of Western India Regional Council of The Institute of Chartered Accountants of India NewsLetter ` 20/- Copy THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110002. Tel. : +91 (11) 39893989 E-mail : [email protected]Web : www.icai.org WESTERN INDIA REGIONAL COUNCIL ICAI Bhawan, 27, Cuffe Parade, Post Box No. 6081, Colaba, Mumbai - 400 005. Tel. : +91 (22) 39893989 Email : [email protected]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: [email protected]Web : www.baroda-icai.org From the Chairman Dear Esteemed Members, Team 2012 of Baroda Branch of WIRC of ICAI is about to complete its 150 days in office and slowly and steadily we are pursuing our mission of synergizing ideas and strengthening profession. Oliver W Holmes said, “The mind, once expanded to the dimensions of larger ideas, never returns to its original size.” The team’s abilities are scaling new heights each day and every milestone has been highlighted in the past 4 months’ newsletters. Amongst the other programs organized in the month of May, public awareness program on revised e-way bill 402 & 403 and Sales Tax Samadhan Scheme by Gujarat Commercial Tax, hosted jointly with ICAI, BTBA & CGCTC, was well received by 350 plus participants. Another highlight of the month was the workshop on Revised Schedule VI. In June, the synergy of two award winning branches viz. Baroda and Nagpur will be at display at “The 2nd ICAI All Region Conference for CAs”. Baroda branch will showcase Team Baroda in action at its best alongwith the co-hosting team of Nagpur branch for welcoming all the four regions at the conference with the theme “Prasarita Pragna” which means Spreading Knowledge. I wish all the participants a happy learning experience. Alongwith regular flow of activities for June, we are proposing to start Post Qualification Certificate Course on Indirect Taxes from 30th June, 2012. ICAI foundation day is the Janamdivas of our Karmakhshetra and every year, this day strengthens our resolve to uphold the values and ethics inculcated by the ICAI. On 1st July this year, the 64th ICAI foundation Day will begin with Flag Hoisting and blood donation camp in the morning and entertainment program “ROCK TO RAGA -2012” in the evening for the CA Parivars by the CA Parivars, with performances created by the members and their families. I request you all to join in with your families for the celebrations. The details of this celebration are given in newsletter. It is said, “Knowledge in young minds has to be improved, challenged, and increased constantly and the flame of knowledge shows them the path to a bright future.” This saying is being implemented by Baroda Branch of WICASA on July 6th and 7th through 25th All India CA Students’ Conference with the theme, Tamso ma Jyotir Gamaya. I request all the members to encourage the CA students to participate in this two day mega conference. Peter Drucker once said, “An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” With this message, I once again invite you all to the knowledge gathering platform on June 8th & 9th at the 2nd ICAI All Region Conference - 2012. Regards, CA. Pradeep Agrawal MANAGING COMMITTEE CA. Rajesh Shah Ex-officio 98250 41142 CA. Yash Bhatt 99243 88339 Treasurer CA. Pradeep Agrawal Chairman 93272 43479 98985 60967 CA. Ashish Parikh 98252 31545 Vice Chairman CA. Nayan Kothari Secretary 98244 33445 CA. M J Parsiya 98251 10620 Past Chairman Immediate CA. Viral Shah 98243 62211 Member CA. Arpan Dodia 98983 83530 Member 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 “ I am fully aware of the heavy responsibilities attached to this high official, and I have every confidence that with the co-operation and help of all. Members, I shall be able to give best to the profession. To my young friends who have just entered the profession and to those who are qualifying for the same, I have every hope of a bright and useful career for them in the new economic and industrial set up of our Country. My earnest and sincere advice to them is to stand by the established principles of the profession, viz., integrity, honesty and fearlessness, in the discharge of their professional obligations.” Shri C.S. Sastri, 5th President of ICAI, NEW DELHI, 16th September, 1955. 2nd Regional Conference ................................... 02 Forthcoming Events ............................................ 03 Income Tax Updates ........................................... 04 Service Tax Updates ........................................... 04 Some awesome ways to use a USB flash drive .. 05 The Power of Selfless Action .............................. 07 Let's Connect with ICAI ...................................... 08 ICAI Updates ....................................................... 08 FAQs on IAS : 1 .................................................... 09 Announcement .................................................... 10 Due Date Planner ................................................. 10 64th CA Foundation Day Celebration .................. 11 Photo Flash ......................................................... 12
Transcript
The Institute of Chartered Accountants of India(Setup by an Act of Parliament)
Volume - V June 2012l
Baroda Branch of Western India Regional Council ofThe Institute of Chartered Accountants of India
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 : [email protected] 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 : [email protected] 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: [email protected] Web : www.baroda-icai.org
Fro
m t
he
Ch
air
man
Dear Esteemed Members,
Team 2012 of Baroda Branch of WIRC of ICAI is about to complete its 150 days in office and slowly and steadily we are pursuing our mission of synergizing ideas and strengthening profession. Oliver W Holmes said, “The mind, once expanded to the dimensions of larger ideas, never returns to its original size.” The team’s abilities are scaling new heights each day and every milestone has been
highlighted in the past 4 months’ newsletters.
Amongst the other programs organized in the month of May, public awareness program on revised e-way bill 402 & 403 and Sales Tax Samadhan Scheme by Gujarat Commercial Tax, hosted jointly with ICAI, BTBA & CGCTC, was well received by 350 plus participants. Another highlight of the month was the workshop on Revised Schedule VI.
In June, the synergy of two award winning branches viz. Baroda and Nagpur will be at display at “The 2nd ICAI All Region Conference for CAs”. Baroda branch will showcase Team Baroda in action at its best alongwith the co-hosting team of Nagpur branch for welcoming all the four regions at the conference with the theme “Prasarita Pragna” which means Spreading Knowledge. I wish all the participants a happy learning experience. Alongwith regular flow of activities for June, we are proposing to start Post Qualification Certificate Course on Indirect Taxes from 30th June, 2012.
ICAI foundation day is the Janamdivas of our Karmakhshetra and every year, this day strengthens our resolve to uphold the values and ethics inculcated by the ICAI. On 1st July this year, the 64th ICAI foundation Day will begin with Flag Hoisting and blood donation camp in the morning and entertainment program “ROCK TO RAGA -2012” in the evening for the CA Parivars by the CA Parivars, with performances created by the members and their families. I request you all to join in with your families for the celebrations. The details of this celebration are given in newsletter.
It is said, “Knowledge in young minds has to be improved, challenged, and increased constantly and the flame of knowledge shows them the path to a bright future.” This saying is being implemented by Baroda Branch of WICASA on July 6th and 7th through 25th All India CA Students’ Conference with the theme, Tamso ma Jyotir Gamaya. I request all the members to encourage the CA students to participate in this two day mega conference.
Peter Drucker once said, “An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” With this message, I once again invite you all to the knowledge gathering platform on June 8th & 9th at the 2nd ICAI All Region Conference - 2012.
Regards,
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
“ I am fully aware of the heavy responsibilities attached to this high official, and I have every confidence that with the co-operation and help of all. Members, I shall be able to give best to the profession. To my young friends who have just entered the profession and to those who are qualifying for the same, I have every hope of a bright and useful career for them in the new economic and industrial set up of our Country. My earnest and sincere advice to them is to stand by the established principles of the profession, viz., integrity, honesty and fearlessness, in the discharge of their professional obligations.”
Shri C.S. Sastri, 5th President of ICAI, NEW DELHI, 16th September, 1955.
Chairman of Session CA. M. M. Chitale, Past President, ICAI, & Chairman, NACAS
• IFRS vis-a-vis Indian CA. Archana Bhutani, New DelhiAccounting Standards (Ind AS)
• Practical Approach to CA. K. L. Jhanwar, JaipurCompliance of Auditing Standards
LUNCH BREAK
Chairman of Session CA. R. Bupathy, Past President, ICAI.
• Taxation of Real Estate CA Padamchand Kincha,Transactions with Bangaluruemphasis on Joint Developments
• Controversial Issues in CA. Yogesh Thar, Mumbai.Taxation
Panel Moderator CA. Kamlesh Vikamsey, Past President, ICAI
Panellists : • Impediments to creation CA Harish Motiwala, Past CCM, ICAI
of Indian Big Firms
• Impact of Small Cap CA Manish Baxi, BarodaInternational Joint Ventures of Clients on CA Office
Cultural Evening followed by a grand dinner
INAUGURAL SESSION 9.00 am to 10.30 am
Technical Session - I Accounts & Audit
Technical Session - II Direct Taxes
Panel Discussion : CA Profession – an Introspection
Mega Cultural Evening 7.00 pm to 09.00 pm
Guest of Honors
Spot Registration` 2800
(Subject to availability)
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
03 JUNE 2012VOLUME - V
ForthcomingEventsBRANCH EVENTS
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
Members are requested to register themselves in advance by
using above options and avoid spot registration to help us to
serve you better.
CPE TELECONFERENCING
Day & Date : Friday, 08.06.2012Time : 11. 00 am to 1.00 pm Faculty : CA. Madhukar Hirangage, CCM, ICAISubject : Defination of Service Covering Negative ListFees : `. 100/ Venue : ICAI Bhawan, Baroda
CPEHRS. 2
PRACTICAL WORKSHOP ON INFORMATION TECH.
Day & Date : Saturday, 16.06.2012Time : 01.30 pm to 7.30 pm Subjects FacultiesInsights to SAP Business one Eminent Faculty - ERP Co.SDLC@CA’s View CA. Kejal Pandya, BarodaFees : Upto 13.06.2012 `. 900/-, thereafter `. 1100/-
Maximum 38 Seats, on First come First Serve Basis
Venue : ITT lab, ICAI Bhawan, Baroda
CPEHRS. 6
3rd Charitable Clinic
Day & Date : Friday, 22.06.2012Time : 03.00 am to 5.00 pm Venue : United Way of baroda, 9th floor, Sidcup tower,
Race Corce, Baroda
Direct Taxes Refresher Course
Time : 02.30 pm to 7.00 pmPART - I Day & Date : Saturday, 23.06.2012Subjects FacultiesInternational Taxation & Transfer CA. Mahesh Sarda, Pricing for Domestic and CCM, ICAIInternational Transactions
Critical Issues in Corporate CA. Pradip Kapasi, MumbaiTaxation
PART - IIDay & Date : Saturday, 30.06.2012
Section 56 (ii), 68 & 69 CA. Ajay Wadhwa, Delhi
TDS & Disallowance U/s 40(a) CA. Manish G Shah, Baroda
PART - IIIDay & Date : Saturday, 14.07.2012
Critical Issues in Search & Survey Dr. Rakesh Gupta, New Delhi
Recent Judicial Pronouncements CA. Tushar Hemani, Ahmedabad
Fees : `. 1500/-for all Three Parts, `. 600/-Part Venue : ICAI Bhawan, Baroda
* 4 CPE Hours / Part
CPEHRS. 12*
Practical Workshop for Banking- Finnacle Software
Day & Date : Wednesday, 11.07.2012Time : 02.00pm to 5.30pm Subjects : - Overview of Finnacle,
- Reports in Finnacle and- MIS & Issues Related to Audit
Faculties : Trainers from BOB Training CenterFees : `. 450/- upto 07.07.2012, thereafter `. 600/-,
Maximum 30 Seats, on First come First Serve Basis
Venue : Bank of Baroda, Training Center, Suraj Plaza, Sayjigunj, Baroda
CPEHRS. 3
Full Day National Practical Workshop MS - ExcelUnder Committee of Information Technology, ICAI
Day & Date : Friday, 03.08.2012Time : 09.00 am to 05.00 pm Subjects : Effective use of MS- ExcelFaculties : CA. Pathik Shah, AhmedabadFees : `. 900/- upto 30.07.2012, thereafter `. 1100/-,
Maximum 38 Seats, on First come First Serve Basis
Venue : ICAI Bhawan, Baroda
CPEHRS. 6
STUDY CIRCLE EVENTSDay & Date : .2012Time : 6.00 pm to 8.00 pmTopic : Revised Schedule VI - Part : IFaculty : CA. Rashmikant C. ThakkarFees : `. 200/- (For non members)Venue : ICAI Bhawan, Baroda
Tuesday, 26.06 CPEHRS. 2
Day & Date : .06.2012Time : 6.00 pm to 8.00 pmTopic : Revised Schedule VI Faculty : CA. Rashmikant C. ThakkarFees : `. 200/- (For non members)Venue : ICAI Bhawan, Baroda
Wednesday, 27
- Part : II
CPEHRS. 2
1st July 2012 - 64th CA Foundation Day CelebrationFlag Hoisting, Blood Donation Camp & Cultural Evening by CA Parivars -
Rock to Raga - 2012 For more details, refer page - 11
45th Annual General Meeting
Day & Date : Tuesday, 26.06.2012Time : 06.00 pm Venue : ICAI Bhawan, Baroda
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
04 JUNE 2012VOLUME - V
Income Tax Updates
Compiled by CA. Narendra Hindocha
1. `White Paper on Black Money’
That is ironic name of the document that the Ministry of Finance came out with on 16th May, 2012. It was in response to adjournment motion in the Parliament relating to illegal moneys in foreign banks. The Paper starts with defining black money and continues dealing with estimation of b l a c k m o n e y, G o v e r n m e n t Inst i tut ions(Boards , Bureaus , Directorates, Authorities etc) dealing with it, systems existing, results achieved, strategies planned, statistics etc.
As far as we are concerned, we get first hand information on various facets in the course of audits, preparation of returns and interaction with the bureaucrats. Time when we would be surprised if an Assessing Officer expects rent or a client declares his intention to pay not a rupee less than what is due, appears far off.
2. Issue of TDS Certificates
Presently, companies, banking institutions and cooperatives are required to issue TDS certificates in Form 16A only by generating such certificates from the TIN website. By Circular No. 1 dated 9th April, 2012, the requirement is extended to all deductors in respect of tax deducted at source on or after April 1, 2012.
3. Loans to/investment in subsidiaries and associates
If a company borrows money and lends i t to i ts associates or subsidiaries, logically, the borrowed money is used for investment and not for business and deduction under section 36 in respect of interest on such borrowings should not be allowable. However, in case of S.A. Builders, the Supreme Court was convinced into holding that interest on borrowings in such cases would be allowable as the subsidiary’s business is also assessee’s business. Recently, in case of M/S.Tulip Star Hotels Ltd. , it
directed issue of notice and also observed that `In our view, S.A. Builders Ltd. vs. Commissioner of Income-Tax (Appeals) and Another, reported in 288 ITR 1, needs reconsideration.’. That is like looking forward to demise of a good helping hand as the decision was often used successfully by assessees for getting a favourable appeal order.
4. Deposits in accounts of partners and others
In case of Sarjan Corporation V. ACIT, reported at 14 ITR (Trib) 140, the issue before the Ahmedabad Bench of ITAT was regarding amounts credited to accounts of partners which were added in income of the firm on the ground that the sources thereof were not satisfactorily explained. The addition was deleted on the ground that addition could have been made in the cases of partners but not the f i r m . D u r i n g a s s e s s m e n t proceedings, while we normally file confirmations of unsecured loans, confirmations of partners’ accounts are not filed. To avail of the benefit of this decision, it would appear that at least the confirmations from the partners ought to be filed.
Regarding the other deposits, the 25 year old decision of Supreme Court in case of Orissa Corporation(159 ITR 78), which has proved to be a blessing in large number of cases, was applied even in this recent decision and the additions were deleted on the ground that when the assessee had filed PA No., the additions could not be made without any further materials, obtaining of which would be the job of the Assessing Officer if he wants to make the addition.
5. Time-limit and amount limit for exemption under section 54EC
Section 54EC puts a ceiling of Rs.50/- lakhs on investment in bonds to avail exemption from tax in following terms:
Provided that the investment………. during any financial year does not exceed fifty lakh rupees.
I believe we have always understood this as meaning that if the investment
is spread over two years(when the transfer of asset is after 1st of October), then exemption upto an amount of Rs. One hundred lakhs can be claimed.
However, Income Tax Appellate Tribunal, Jaipur Bench in ITA No.648/ Jp/2011 for Assessment Year : 2008-09 in case of The ACIT Vs. Shri Raj Kumar Jain & Sons (HUF ), held that the exemption is restricted to Rs. Fifty Lakhs even when investment is spread over two years. The logic, which I am unable to comprehend, appears to be that the investment in the second year can give you exemption only in respect of asset transferred in that second year.
It further states that the investment is to be considered to be made on the date of payment although allotment of bonds is made at a later date.
However, Ahmedabad Bench of ITAT, in case of Shri Aspi Ginwala, ITA no.3226/Ahd/2011 in order dated 30-03-2012, allowed deduction of Rs.10000000/- in single year although the investment of the other amount of Rs.5000000/- was beyond the prescribed time limit of 6 months. This liberal view was taken on the ground that there were no bonds eligible for exemption under section 54EC available in market at the relevant time.
Source: itatonline.org
Service TaxUpdates
Compiled by CA. Anirudh Sonpal
I. POINT OF TAXATION
Circular No. 158/9/ 2012 – ST dated 8-5-2012 has clarified that in case of the eight specified services, which includes services of Chartered A c c o u n t a n t s , p r o v i d e d b y proprietary or partnership firms, as also in case where service tax is required to be paid on reverse charge by the service receiver, service tax needs to be paid @12% if the payment is received or made, as
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
05 JUNE 2012VOLUME - V
Compiled by CA. Rahul Parikh
Some awesome ways to
use a USB flash drive
Find out how versatile your thumbdrive is with these 3 little-known uses and tricks.
Source: CNET.com
Your trusty USB flash drive is much more versatile than you might realize, packing capabilities that go well beyond storing and transferring files.
These little-known tricks can be utilized by computer newbies and technogeeks alike to achieve anything from restoring a virus-ridden computer to launching and playing portable apps right from the drive.
(Credit: Ed Rhee/CNET)
Unlock our top-10 ways to use a USB flash drive with the guide below
1) Lock and unlock your computer with a USB drive, secret-agent style
If you prevent access to your computer with just a password, you are missing out on an alternate (and more secure) way to lock down your computer.
Predator, a free Windows program, turns your USB drive into a key that locks your computer when it's removed. To unlock your computer, you'll have to plug the USB drive back in. (Talk about having secret-agent-style security.)
Anyone who attempts to access your computer without the USB flash drive will be hit with an epic "Access Denied" message. To get started, follow this guide:
Step 1: Download and install Predator at http://download. cnet.com/Predator-Free/3000-2144_4-10915340.html
Step 2: Once Predator launches, plug in your USB flash drive. None of the contents of the drive will be deleted or altered in any way, so feel free to use your primary thumbdrive.
When you insert the drive, a dialog box will appear asking you to create a password. Click OK to continue.
Step 3: In the Preferences window, take note of a few key settings. First, enter a
the case maybe, on or after 1st April 2012.
II. CENVAT CREDIT
2.1 With reference to payment of arrears from Cenvat Credit earned at a later date, Circular No.962/05 /2012-CX dated 28-3-2012 has clarified that the restriction on the utilization of the cenvat credit accruing subsequent to the last date of the month or quarter in which the arrears arise, is not applicable to the demands confirmed under Section 11A of the Central Excise Act, 1944
2.2 In view of the Honourable Supreme Court upholding the CESTAT decision in the matter of M/s Printo India Graphics (P) Ltd that the process of cutting, slitting and printing of aluminium foils does not a m o u n t t o m a n u f a c t u r e , Notification 24/2012 – Central Excise(N.T.) dated 19-4-2012 states that the Cenvat Credit taken or utilised, of the duty or tax or cess paid on inputs, capital goods and input services used in the making of the said final product, shall not be required to be reversed subject to the following conditions:
1. the said non-reversal shall be allowed only for the Cenvat Credit taken upto 15-3-2012;
2. the said non-reversal shall be allowed only when excise duty has been paid on removal of the said final product;
3. the said assessee shall not prefer a claim of refund of the excise duty paid by him on the said final product;
4. the cenvat credit, if any, taken by the buyer of the said final product, of the excise duty paid by the said assessee on the said final product made and cleared upto 15-3-2012 shall not be required to be reversed.
2.3 With reference classification of Structural Components of Boiler and admissibility of cenvat credit on these Structural Components,
Circular 966/09/2012 – CX dated 18-5-2012 has clarified an important principle by stating that ‘in terms of the Rule 2(k) of the Cenvat Credit Rules, 2004, while Cenvat Credit is available in respect of parts of Boiler, the same is not admissible in r e s p e c t o f t h e s t r u c t u r a l components used for laying of foundation or making of structures for support of capital goods/ Boiler.’
“We are building huge dams, hydro electric projects, fertilizer factories in public sector and they are steadily on the increase. But all these will avail nothing unless we are able to induce confidence in the public that we are able to get adequate returns for the monies we are spending on these huge enterprises. And, therefore your profession has a very vital role to play. You must do your work selflessly in a s p i r i t o f d e d i c a t i o n , i n a n uncompromising way, not caring for powers, but you must do your work for the sake of the community as a whole.
Dr. Sarvapalli Radhakrishnan
(At meeting of Chartered Accountants of Madras Region, June 5, 1958)
Dr. Sarvapalli Radhakrishnan
A Great Teacher & Philosopher
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
06 JUNE 2012VOLUME - V
Step 6: At the Volume Creation Mode screen, select Create encrypted volume and format it, then click Next.
Step 7: At the Encryption Options screen, leave the defaults unless you specifically want to change the algorithms. Click Next to continue.
Step 8: At the Volume Size screen, all the selections should be grayed out and will display the total size of your USB flash drive. Click Next to continue.
Step 9: At the Volume Password screen, type in your password twice. TrueCrypt recommends a password consisting of 20 characters or more. Click Next to continue.
Step 10: At the Large Files screen, select No, then click Next.
Step 11: At the Volume Format screen, move your mouse randomly on the screen. The longer you move the mouse around, the stronger the encryption will be. When you're done, click on the Format button. When the confirmation dialog comes up, read it for accuracy and click the Yes button.
Once the formatting has completed, exit the TrueCrypt Volume Creation Wizard.
Decrypt it
In order to decrypt the USB flash drive, you have to mount the encrypted partition--in our case, the entire USB flash drive--to a virtual drive letter.
Step 1: Launch True Crypt and click the drive letter you want to mount your USB flash drive to.
Step 2: Click the Select device button and choose your USB flash drive.
Step 3: Click the Mount button, type in your password, then click the OK button.
You should now see the drive letter you chose in Windows Explorer. This is your encrypted drive. Store anything you'd like in this drive to keep it encrypted. Note that you must use the mounted drive letter, not the drive letter that shows up when you insert the USB flash drive.
There you go. Now you if you lose your USB flash drive, you can feel safe knowing that nobody will be able to access the files on it.
secure, unique password in the "New password" field. If you lose your USB drive, you'll use it to unlock your computer.
If you'd like, you can check the Always Required box and you'll be asked to enter the password each time you use your thumbdrive to unlock your PC.
Finally, in the section under Flash Drives, ensure that the correct USB flash drive is selected. When you're done, click "Create key" and then OK.
Step 4: Predator will exit. When it does, click the Predator icon in the taskbar to restart the program. A few seconds later, the icon will turn green, alerting you that Predator is running.
Every 30 seconds, Predator will check to see that your USB drive is plugged in. If it isn't, your computer will dim and lock down.
Here are some extra tips:
• To pause Predator at any time select "Pause monitoring" from the taskbar menu.
• If someone tried to access your PC while it was locked down, you'll see the activity log when you log back in. You can see the log at any time by clicking "View log" from the taskbar menu.
• Predator's Web site has several cool how-tos, including one that shows you how to program your computer to take a snapshot each time someone tries and fails to log in to your computer. Check it out.
One obvious flaw comes with this setup: you'll always be down one USB port. But if you're sold on Predator, consider purchasing a USB hub to compensate.
2) Quickly remove USB devices without using Safe Removal
a. USB devices can be hot-swapped, but their convenience is hindered by their need to be removed safely by using the Windows Safe Removal option. There's a policy for each USB device, however, that allows you to set them for quick removal, at the e x p e n s e o f a v e r y m i n o r
performance hit.
b. Here's how to check to make sure that your USB device's quick removal policy is turned on:
c. Step 1: After you've inserted your USB device, launch Device Manager by hitting the Windows logo key, then typing "device manager" and selecting it from the search list.
d. Step 2: Drill down in Disk drives and double-click on your USB device.
e. Step 3: Go to the Policies tab and make sure that "Quick removal (default)" is selected
f. That's it. Keep in mind that this policy setting doesn't mean you should remove your USB device in the middle of a file operation. It just means that once the copy, delete, or move operation has been completed and the activity light on your device is no longer blinking, you can remove the device without using the Safely Remove Hardware notification icon.
3. What to do with your USB flash drive: Encrypt it
USB flash drives are easy to lose if you don't keep track of them. In part three of our "What to do with your USB flash drive" series, we'll show you how to encrypt your USB flash drive so that if it gets lost or stolen, its contents will be safe and sound:
Encrypt it
Step 1: Download and install TrueCrypt at http://download.cnet.com/TrueCrypt/3000-2092_4-10527243.html
Step 2: After you've inserted an empty USB flash drive into your computer, launch TrueCrypt and click on the Create Volume button.
Step 3: At the TrueCrypt Volume Creation Wizard screen, select Encrypt a non-system partition / drive, then click Next.
Step 4: At the Volume Type screen, select Standard TrueCrypt volume, then click Next.
Step 5: In the Volume Location screen, click the Select Device button to select your USB flash drive, then click Next.
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
07 JUNE 2012VOLUME - V
Selflessness is not just saintliness without any pragmatic result; it is the highest form of pragmatism which builds inner power and strength of character, which in turn can lead to success in outer life. But the ideal of total selflessness is not something which cannot be achieved in a short-time. We must not be discouraged if this strong human instinct clings obstinately in the beginning. We have to proceed slowly and gradually with sincerity and persistence, until we reach the ideal.
Key Perspectives
Benefits of selflessness; calm in the storm; proceed gradually with persistence.
The Benefits of Selflessness
Work for work’s sake. There are some who are really the salt of the earth in every country and who work for work’s sake, who do not care for name, or fame, or even to go to heaven. They work just because good will come of it. There are others who do good to the poor and help mankind from still higher motives, because they believe in doing good and love good. The motive for name and fame seldom brings immediate results, as a rule; they come to us when we are old and have almost done with life. If a man works without any selfish motive in view, does he not gain anything? Yes, he gains the highest.
Unselfishness is more paying, only people have not the patience to practice it.It is more paying from the point of view of health also. Love, truth, and unselfishness are not merely moral figures of speech, but they form our highest ideal, because in them lies such a manifestation of power. In the first place, a man who can work for five days, or even for five minutes, without any selfish motive whatever, without thinking of future, of heaven, of punishment, or anything of the kind, has in him the capacity to become
a powerful moral giant. It is hard to do it, but in the heart of our hearts we know its value, and the good
it brings. It is the greatest manifestation of
We cannot live a minute without work. What then becomes of rest? Here is one side of the life-struggle -
work, in which we are whirled rapidly round. And here is the other - that of calm, retiring renunciation:
everything is peaceful around, there is very little of noise and show, only nature with her animals and
flowers and mountains. Neither of them is a perfect picture. A man used to solitude, if brought in contact with the surging whirlpool of the world, will be crushed by it; just as the fish that lives in the deep sea water, as soon as it is brought to the surface, breaks into pieces, deprived of the weight of water on it that had kept it together. Can a man who has been used to the turmoil and the rush of life live at ease if he comes to a quiet place? He suffers and perchance may lose his mind.
The ideal man is he who, in the midst of the greatest silence and solitude, finds the intensest activity, and in the midst of the intensest activity finds the silence and solitude of the desert. He has learnt the secret of restraint, he has controlled himself. He goes through the streets of a big city with all its traffic, and his mind is as calm as if he were in a cave, where not a sound could reach him; and he is intensely working all the time. That is the ideal of Karma-Yoga, and if you have attained to that you have really learnt the secret of work.
Proceed Gradually with Persistence
But we have to begin from the beginning, to take up the works as they come to us and slowly make ourselves more unselfish every day. We must do the work and find out the motive power that prompts us; and, almost without exception, in the first years, we shall find that our motives are always selfish; but gradually this selfishness will melt by persistence, till at last will come the time when we shall be able to do really unselfish work. We may all hope that someday or other, as we struggle through the paths of life, there will come a time when we shall become perfectly unselfish; and the moment we attain to that, all our powers will be concentrated, and the knowledge which is ours will be manifest.
power - this tremendous restraint; self-restraint is a manifestation of greater power than all outgoing action. A carriage with four horses may rush down a hill unrestrained, or the coachman may curb the horses. Which is the greater manifestation of power, to
let them go or to hold them? A cannonball flying through the air goes a long distance and falls. Another is cut short in its flight by striking against a wall, and the impact generates intense heat. All outgoing energy following a selfish motive is frittered away; it will not cause power to return to you; but if restrained, it will result in development of power. This self-control will tend to produce a mighty will, a character which makes a Christ or a Buddha.
Foolish men do not know this secret; they nevertheless want to rule mankind. Even a fool may rule the
whole world if he works and waits. Let him wait a few years, restrain that foolish idea of governing; and
when that idea is wholly gone, he will be a power in the world. The majority of us cannot see beyond a few years, just as some animals cannot see beyond a few steps. Just a little narrow circle - that is our world. We have not the patience to look beyond, and thus become immoral and wicked. This is our weakness, our powerlessness.
Even the lowest forms of work are not to be despised. Let the man, who knows no better, work for selfish ends, for name and fame; but everyone should always try to get towards higher and higher motives and to understand them. “To work we have the right, but not to the fruits thereof:” Leave the
fruits alone. Why care for results? If you wish to help a man, never think what that man’s attitude should be towards you. If you want to do a great or a good work, do not trouble to think what the result
will be.
Calm in the Storm
There arises a difficult question in this ideal of work. Intense activity is necessary; we must always work.
Compiled by CA. Bimal R. Bhatt
The Power of
Swami VivekanandaSelfless Action
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
08 JUNE 2012VOLUME - V
Compiled by CA. Abhishek Nagori & CA. Neena Patel
Let’s Connect with ICAI
“It is by teaching that we teach ourselves, by relating that we observe, by affirming that we examine, by showing that we look, by writing that we think, by pumping that we draw water into the well.” Henri Frederic Amiel
This month, Let’s connect with ICAI brings to you, opportunities for members to contribute to the process of examination and training. Members can come forward not only to serve our alma mater with their valuable services but also contribute in the grooming of our future professional colleagues. “An Institute is only an individual multiplied”. The opportunities highlighted this month will allow us to come one step closer to contribute to the future members of ICAI.
Invitation to become Examiner for Chartered Accountant Examinations
The Institute is in the process of strengthening its panel of examiners with professionals/academicians/resource persons for all the papers in CA IPCE and Final Examinations in general and for the following subjects in particular:
1. Information Systems Control and Audit - Chartered Accountants Final Level
2. Information Technology - Chartered Accountants PCE/IPCE Level
The members, with proven proficiency in the area of Information Technology and System Audit and having interest in learning in the core areas of Chartered Accountancy Course, should become Examiners for CA Examinat ions , Information Technology related subjects. Accordingly, members may fill Examiners Empanelment Form and send with all necessary Annexure to the Additional Secretary (Exams), The Institute of Chartered Accountants of India, ‘ICAI Bhawan’, Indraprastha Marg, New Delhi-110002 at the earliest convenience.
Eligibility
The members who wish to apply for empanelment to panel of examiners shall fulfil following eligibility criteria:
1. Chartered Accountants with a minimum of two years standing in practice or in service and University Lecturers with a minimum of five years teaching experience at a level of graduate and above in the relevant s u b j e c t s w i t h e x a m i n e r s h i p experience of five years are eligible to apply.
2. Persons above 60 years of age are not eligible for empanelment as examiner.
3. Brief description of nature of work (Professional or Teaching) handled and handling be attached with the application form.
4. Copies of Mark sheets/Degree/other relevant testimonials must be attached with the application form
5. Chartered Accountants who secured rank up to first 25 positions in Final Examination conducted by the Institute and possess one year of professional experience are eligible for empanelment.
6. Persons who are undergoing any course of the Institute cannot seek empanelment for the examination of that course.
How to apply
T h e f o r m i s d o w n l o a d a b l e a t http://220.227.161.86/15857ExaminersEmpanelmentForm.pdf or may be obtained by sending a request letter by mail at https://mail.google.com/mail/h/b5ggwp9im0ua/?&v=b&cs=wh&to=tparamasivan@icai. in or https://mail .google. com/mail/h/b5ggwp9im0ua/?&v=b&cs=wh&[email protected]. Photo copies of the forms may also be used, if required.
The empanelment application forms will be reviewed as per the eligibility criteria and decision regarding the empanelment will be communicated to the applicant by ICAI.
Empanelment of Coordinators in the centres organizing GMCS Course and Orientation Programme
The Board of Studies intends to draw a Panel from amongst its Members for acting as Coordinator for monitoring G M C S C o u r s e a n d O r i e n t a t i o n Programme. Presently, GMCS Course and
Orientation Programme are organized by Regional Councils, DCOs and Branches of ICAI.
Eligibility
The Coordinator shall –
1. Be CA with 5 years in practice or MBA with 5 years experience
2. Visit the organizing centre twice during the GMCS Course and once during the Orientation Programme
3. For each visit, an amount of Rs.2500/- will be paid.
4. Check the attendance record of the students.
5. Check the faculty attendance record.
6. Check infrastructure and other facilities provided to the students.
7. Submit report of his/her every visit.
8. Collect students’ feedback form on the last day of the course.
9. Analyse “Students’ Feedback Form” and submit a consolidated report to the Director, Board of Studies.
How to apply
Members who are interested to act as Coordinator may down load the Empanelment Form and send the same to:
The Director, Board of Studies, The Institute of Chartered Accountants of India, Plot No. A-29, sector-62, Noida : 201309 or email to: [email protected].(Source:www.icai.org; The Chartered Accountant-ICAI Journal)
Compiled by CA. Ashok Thakkar
ICAIUpdates
Internal Audit Standards Board Secretariat
The Institute of Chartered Accountants of India:
As you are aware that Indian Panchayats and Municipalities play a very important role in the Indian government as they are endowed with the responsibility of taking care of the administration in the Indian villages and sub-urban areas in the country. The Constitution of India, as per Article 40, had directed the Government of the country to set up Panchayats in the
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
09 JUNE 2012VOLUME - V
villages so that they can act as local self-g o v e r n m e n t . T h e r e h a s b e e n c o n s i d e r a b l e p r o g r e s s i n t h e empowerment of Panchayati Raj Institutions (PRIs) and municipalities since the Tenth Finance Commission first made a provision for explicitly supporting local bodies through grants, subsequent to the passage of the 73rd and 74th amendments to the Constitution.
In this context, CA. Rajkumar S. Adukia, Chairman, IASB and CMII has been nominated as convenor for the Gujarat State to form a State Level Task Force for making detail study of Panchayats and Municipalities of Gujarat. The first step in this direction is to undertake study of the Gujarat State Budgets for the last five years and form suggestions for improvement in the same.
We invite you to take part in the study of Gujarat State Budgets and share your insights and knowledge in the area. Those who wish to participate can contact CA. Rajkumar S. Adukia at 09820061049, 09323061049 or e-mai l h im at r a j k u m a r f c a @ g m a i l . c o m ; [email protected].
Constitution of a group to study eligibility for statutory audit of Private/foreign banks vis-à-vis public sector banks:
The President, in terms of the authority given to him by the Council at its 314th meeting held from 10th to 12th February, 2012, has constituted a Group to examine the circular dated 12th August, 2011 of Reserve Bank of India regarding eligibility for statutory audit of private/foreign banks vis-à-vis public sector banks simultaneously and suggest the way forward for taking up the matter with the concerned authorities, comprising of the following members:-
• C A . C h a ra n j o t S i n g h N a n d a , Chairman, Professional Development Committee, Convenor
• CA. Manoj Fadnis, Member• CA. Nilesh S. Vikamsey, Member• CA. Pankaj Jain, Member
CA. V. Murali, MemberCA. K. Raghu, Member
••
CA. Namrata Khandelwal, Secretary, PDC would act as Secretary to the above Group.
The President has decided that the Group should submit its recommendations at the earliest.
FAQs on IAS : 1
(Ind – AS 1):
Presentation of Financial Statements
Compiled by CA. Prashant Upadhyay
... Contd. from last month issue.
8. Whether income statement should be single or two statement approach?
Ans: Ind-AS permits on single statement approach, however IAS permits single income statement or along with statement of comprehensive income that begins with bottom line of income statement and displays components of other comprehensive income.
9. Which are minimum items to be presented on the face of income statement?
Ans: Items like Revenue, finance costs, share of profit or loss of associates and joint ventures accounted for using equity method, tax expense, profit and loss for the period attributable to non-controlling interest and owners of the parent, however, in terms of para 87, no items may be presented in statement of comprehensive income or in notes as ‘extraordinary items’.
10. What are nature and functional analysis of expenses and how the same should be treated?
Ans: An expense may be shown by nature (Raw Materials, employee costs, rent, travelling, depreciation etc) or by function (cost of sales, selling expense, administrative expense etc). Under nature of expense method the expenses are shown as per nature and not reallocated among various functions within the entity unlike function method, like cost of distribution or administrative
activities relating to sales function would be considered as part of cost of sales.
However, Ind-AS permits only nature of expenses presentation model.
11. What comprises statement of changes in Equity?
Ans: The same comprises, a) Total comprehensive income for the period showing separately amounts attributable to owners of parent and to non-controlling interests, b) Effects of retrospective applications f o r e a c h c o m p o n e n t s , c ) Reconciliation between carrying amounts at the beginning and end of period for each component of equity separately disclosing profit or loss a n d e a c h i t e m o f o t h e r c o m p r e h e n s i v e i n c o m e , d ) Transactions with owners, showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control & e ) T h e a m o u nt o f d iv id en d distributions and related amount per share.
12. Can assets and liabilities or income and expenses be offset?
Ans: As per para 32, an entity cannot offset the same unless required to be permitted by IFRS.
13. The balance sheet should be drawn in order of liquidity or by classifying as current and non-current?
Ans: In terms of para 60, 66-76, entity should present as current and non-current assets and liabilities as separate classification except when a presentation based on liquidity provides information that is reliable and more relevant where all assets and liabilities can be stated in order of liquidity.
14. Whether description of the entity’s operation and its principal activities are required to be disclosed? If yes where to disclose the same?
Ans: As per para 138(b), an entity is required to disclose the same in notes only if its not disclosed elsewhere in the financial statement.
Contd. in next issue....
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
10 JUNE 2012VOLUME - V
AnnouncementsBaroda Branch of WIRC of ICAI is planning to organize below 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
oInternational Trade Laws & World Trade Organisation (ITL & WTO)
oERP Courses on SAP FA & MA Module, Microsoft Dynamics NAV
The objective of this Course is to familiarize the members with the relevant laws which impact the arbitration process and the practical procedural aspects and to build the competency level of the members of the I n s t i t u t e t o p o s i t i o n t h e m a s multidisciplinary consultants in the global
CERTIFICATE COURSES FOR MEMBERS :
POST QUALIFICATION COURSES :
1st Certificate course on Arbitration
service market.The course is targeted at members who are desirous of building their expertise and skills in the area.
Apart from the comprehensive theoretical aspects, this course, will also cover practical and procedural aspects of the arbitration process with case studies and mock arbitration proceedings.
We may inform you that the Members of the Institute, viz Chartered Accountants are eligible to attend the aforesaid Course and the members who qualify the Certificate Course on Arbitration successful ly conducted by the Institute and pass the Evaluation Test held at the end of the Course are awarded the Certificate and empanelled on the ICAI Panel of Arbitrators. 20 CPE Hours would be allotted to participating members. ICAI maintains a Panel of Arbitrators which is widely known and being promoted amongst National and State C h a m b e r s o f C o m m e r c e , A p e x Organizations, Judicial and Quasi-judicial Bodies and Apex Regulators which seek the services of these Professionals. Presently there are about 459 Chartered Accountants on the ICAI Panel of Arbitrators. We may further inform you that in case the Course is held at Baroda in 1st fortnight of Aug-12, then as per the current Fee slab the Registration fee would be Rs. 15,000/- per participant.
For more details you may visit the URL: http://www.icai.org/post.html?post_id=34
43&c_id=266 or contact DCO Office, Baroda Branch of WIRC of ICAI
Tax laws in India are becoming more and more complex and more so in the case of indirect taxes. Frequent changes in taxation through Finance Acts, Notifications and Circulars are one of the significant features of Indian tax laws. Appreciating these increasing complexities and changing facade of indirect taxes, the Council of the Institute of Chartered Accountants of India has decided to launch a Certificate Course on Indirect Taxes at Baroda from 30th June, 2012
Course Objective : The Course aims to facilitate the members in industry as well in practice by: providing specialized and updated knowledge in the area of Indirect Taxes in a systematic manner; enhancing analytical and problem solving skills for decision making.
Course Coverage : Overview of Indirect Taxes, Value Added Tax, Central Excise Duty, Customs Duty , Service Tax, GST and Foreign Trade Policy.
More details of the course is available on http://www.icai.org/post.html?post_id=7382
30.06.2012 Annual VAT / CST E-Return / Hard Copy F.Y.(other than cases under VAT Audit) 2011-12
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
11 JUNE 2012VOLUME - V
Worthy Contributors - 2012
Sr. Names Amt. `
1 CA. Abhishek Nagori 10,000
2 CA. Ashok Thakkar 10,000
3 CA. Darshan Bhutwala 10,000
4 CA. Dhruv Agrawal 10,000
5 CA. Divyesh Mehta 10,000
6 CA. Jay Chhaira 50,000
7 CA. K. N. Mehta 10,000
8 CA. Manish Baxi 20,000
9 CA. Mayur Swadia 10,000
10 CA. Neena Patel 52,000
11 CA. Rahul Parikh 10,000
12 CA. S. R. Parikh 20,000
13 CA. Vinod Kansara 9,000
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.
64th CA Foundation Day Celebration
Rock to Raga-2012Rock to Raga-2012Rock to Raga-2012Entertainment with music, dance & creativity
Date & Day : 01.07.2012, SundayTime : 09. 00 am to 9.30 amTopic : Flag Hoisting, followed by Blood Donation CampVenue : ICAI Bhawan, Baroda
Hosted by :Baroda Branch of WIRC of ICAI & Baroda Branch of WICASA
Organized by : Board of Studies - The Institute of Chartered Accountants of India
ll Tamso ma Jyotir Gamaya ll
th25 All India CA Students' Conference
Registration
Fees:
` 750
Outstation delegates please inform in advance if you wish to perform in cultural EveningAccommodation facility available for outstation delegates if they inform in advance
For Further Detail Contact: CA Ashish Parikh - Conference convenor
ALL INDIA CA STUDENTS’ CONFERENCE
Baroda Branch of WIRC of ICAI, ICAI Bhawan, Kalali-Tandalja road, Baroda-390 012, Gujarat
Email:[email protected]:www.baroda-icai.org CA Madhukar Hiregange Vice-Chairman, Board of Studies,
Conference co-ordinator
CA Nilesh Vikamsey Chairman, Board of Studies, Chief Conference co-ordinator
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CA Ashish Parikh Chirman Baroda Branch of WICASA Conference convenor
Date & Day : 01.07.2012, SundayTime : 5.30 pm onwards, followed by dinner Venue : ICAI Bhawan, Baroda Fees : `. 175/- person, ̀ . 100/- child above 3 years
PERFORMANCE ENTRIES ARE INVITED FROM MEMBER FOR THE BELOW
PerformanceCategory 2 : Children Age up to 6 yrs : Fancy Dress / Dance / Rhyme Recitation Age group of 6yrs to 12yrs : Singing / Dance / Instrumental / Group Performance
Age group of 12yrs-18yrs : Singing / Dance / Instrumental / Group Performance
OTHER ATTRACTIONS
1. Lucky Draw from visiting card drop box2. Happy family gift for the family for first 5 Families reaching the venue first.3. Interesting Games for audiences Notes:
1 Last date of Registrations are 20th June, 2012
2 Auditions will be on 23rd June, 2012 at ICAI Bhawan, from 4.00 pm onwards
3 Registration of First Come First Serve Basis
4 In each category Minimum 2 and maximum 5 entries, Each performance will be maximum 3 mts.
5 Prizes : Judges will adjudge best 3 performance in each category and will be given surprise gifts
BARODA BRANCH OF WIRC OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
NewsLetter
12 JUNE 2012VOLUME - V
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 [email protected]/[email protected]. The same may be published in the newsletter subject to availability of space & editorial editing.
ADVERTISEMENT TARIFF : * Discount - 3 to 6 issue of 10%, 7 to 12 issue 15% * Circulated to more than 1700 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
