Special points of

interest:

Highlights of the

events conduct-

ed during Janu-

ary

QUIZ

Articles contrib-

uted by Stu-

dents

Upcoming exist-

ing events

Glimpses of the

Award ceremo-

ny at Delhi—ICAI

17th February, 2019 Baroda WICASA — 2019

© harshini naidu

Inside this issue:

Chairman’s

Communication

3

Committee Mem-

bers

4

Announcements 5

Budget Brief 6

Digital India 7

Quiz 9

Life is a Race 10

Achievements

& Glimpses

11

Baroda WICASA — 2019

Page 3 WICASA Baroda — 2019

“The

past

cannot be changed .

The future is yet in your

power”

CHAIRMAN’S COMMUNICATION

Being a leader and to be a transformer !When you get the opportunity to lead, re-member it is a noble opportunity not just to amass followers, but to nurture true and great leaders who can do even greater things than you did! That never wipes off your footprints! It is my privilege and gratitude to serve the ICAI Baroda and thanks all predecessors for reposing trust on me as managing committee member for the year 2019. “Youth is about the only thing worth having, and that is about the only thing youth has”. It is honor to work with more than 6,500 students of WICASA as a chairman of WICASA 2019. With due responsibility and confidence I am sure that we will create successful roadmap without letting single stone unturned. I would like to congratulate foundation and intermediate students for moving ahead for a further step to become a CA and all the best for further journey of becoming the CA. For those who cleared out CA final, it’s an amazing feeling and the thing that has happened to you in a life. Believe friends nothing more good will be happened to you than this day of success. After clearing out CA there are more challenges waiting for you though it is sweet compare to journey of becoming CA. For those who have not cleared out their exams, friends you are just steps back to jump with dual efforts in a next examination. So have faith and patience on yourself to come out with flying colors in next exam. It’s my humble request to all the students, please be connected with the Institute and contribute. At the outset of the year our team has completed wonderful events like educational visit to NIRMA University, Vibrant Gujarat Visit, VMSS industrial visit, Full day GST seminar, Uttrayan festival and Campus placement of articles which create a bridge between principal and article. We have planned Reversionary lectures for IPCC and final students so requesting all students to get maximum benefit out of this to succeed in exams. It’s an honor for Baroda WICASA to get second award at national award ceremony of ICAI for the work of year 2018.

Kudos to the Team WICASA 2018 and thanks for inspiring us for the year 2019. CA KRUNAL BRAHMABHATT

CHAIRMAN—WICASA

EDITORIAL TEAM

CA Krunal Brahmabhatt

(CHAIRMAN WICASA)

(M) - 7874811551

Ms. Nishita Khandelwal

(COMMITTEE MEMBER)

(M) - 9537815566

COMMITTEE MEMBERS OF WICASA BARODA—2019

Name Designation Contact No.

CA Krunal Brahmabhatt Chairman 7383796096

Ms. Reema Saw Vice-Chairman 9510227505

Ms. Harshita Goyal Secretary 9898346155

Mr. Milan Patel Treasurer 8758632616

Mr.Divyanshu Badogu Programme Committee

and Study Circle Head

8401238350

Mr. Hemant Mishra Social Media Head 9601812543

Mr. Rutvik Nuwal Guest Co-ordinator 9979400581

Ms. Nishita Khandelwal Editorial Team Head 9537815566

ANNOUNCEMENTS

WICASA Baroda — 2019 Page 5

Sr.No. Date Day Topics Faculty Time

1 25-02-2019 Monday Financial Reporting (Financial Reporting) Ashish Lalaji 11:00 AM to 06:00 PM

2 28-02-2019 Thursday Corporate & Allied Laws Mehul Thakkar 09:30 AM to 06:00 PM

3 01-03-2019 Friday Advanced Management Accounting Siddharth Jadeja 09:30 AM to 06:00 PM

4 02-03-2019 Saturday Advanced Auditing & Professional Ethics Aseem Trivedi 09:30 AM to 06:00 PM

5 03-03-2019 Sunday Information Systems Control & Audit Yuvraj Bachawat 09:30 AM to 04:00 PM

6 05-03-2019 Tuesday Direct Taxation Bhawar Borana 09:30 AM to 06:00 PM

7 06-03-2019 Wednesday Indirect Taxation Pushpendra Sisodia 10:00 AM to 5:00 PM

8 08-03-2019 Friday Strategic Financial Management Sachin Thakkar 09:30 AM to 06:00 PM

Sr.No. Date Day Topics Faculty Time

1 26-02-2019 Tuesday Information Technology Himanshu Shah 02:00 PM to 06:00 PM

2 04-03-2019 Monday Information Technology Himanshu Shah 02:00 PM to 06:00 PM

3 07-03-2019 Thursday Accounts (AS) D.S. Rawat 09:30 AM to 06:00 PM

4 09-03-2019 Saturday Law Mehul Thakkar 09:30 AM to 06:00 PM

5 10-03-2019 Sunday Cost Accounting Pushpendra Sisodia 10:00 AM to 5:00 PM

6 11-03-2019 Monday Financial Management Maulin Kadikar 10:00 AM to 01:00 PM

11-03-2019 Monday Financial Management Mahesh Jaiswal 02:00 PM to 06:00 PM

7 12-03-2019 Tuesday Direct Taxation Nirav Shah 08:00 AM to 01:00 PM

12-03-2019 Tuesday Direct Taxation Bharat Prajapati 02:00 PM to 06:00 PM

8 13-03-2019 Wednesday Indirect Taxation Pushpendra Sisodia 10:00 AM to 5:00 PM

9 14-03-2019 Thursday Advanced Accountancy Mansi Bhatt 09:30 AM to 06:00 PM

10 16-03-2019 Saturday Strategic Management Arpana Shah 09:30 AM to 06:00 PM

11 17-03-2019 Sunday Audit Umang Ratani 09:30 AM to 06:00 PM

12 18-03-2019 Monday Advanced Accountancy

(Amalgamation) Soham Vaishnav 09:30 AM to 06:00 PM

13 19-03-2019 Tuesday Advanced Accountancy (Cash

Flow & Fund Flow) Soham Vaishnav 09:30 AM to 06:00 PM

14 20-03-2019 Wednesday Economics for Finance Divyesh Dholakia 09:30 AM to 06:00 PM

Page 6

BUDGET HIGHLIGHTS

WICASA Baroda — 2019

State share has increased to 42%

PCA restriction has abolished from 3 ma-

jor banks

2 lakhs seats will increase for the reserva-

tion of 10%

60000 crores for manrega

1.7 Lakh crore to ensure food for all

22nd AIIMS has to be opened in Haryana

Approval has to be given to PM Kisan

Yojana

Rs. 6000 per annum has to be given to

every farmer having upto 2 hectare land.

Our government delivered 6 crores free

LPG connections under Ujjawala scheme

2% interest relief for MSME GST regis-

tered person

26 weeks of Maternity Leaves to empow-

er the women

More than 3 Lakhs crores for defense

One lakh digital villages in next 5 years

Single window for approval of India film

makers

Within 2 years, Tax assessment will be

done electronically

IT returns processing in just 24 hours

Minimum 14% revenue of GST to states

by Central Govt.

Custom duty has abolished from 36 Capi-

tal Goods

Recommendations to GST council for re-

ducing GST rates for home buyers

Full Tax rebate upto 5 lakh annual income

after all deductions.*

Standard deduction has increase from

40000 to 50000

Exempt on tax on second self-occupied

house

Ceiling Limit of TDS u/s 194A has in-

creased from 10000 to 40000

Ceiling Limit of TDS u/s 194I has in-

creased from 180000 to 240000

Capital tax Benefit u/s 54 has increased

from investment in one residential house

to two residential houses.

Benefit u/s 80IB has increased to one

more year i.e. 2020

13. Benefit has given to unsold inventory

has increased to one year to two years .

National kamdhenu ayog for cows. Rs.

750 crores for National Gokul Mission

2% interest subvention for farmers pursu-

ing animal husbandry and also create sep-

arate department for fisheries.

2% interest subvention for farmers affect-

ed by natural calamities and additional

3% interest subvention for timely pay-

ment.

Tax free Gratuity limit increase to 20

Lakhs from 10 Lakhs

The programme has 3 visions primarily:

Digital Infrastructure as a Utility to Every Indian citizen.

Governance and Services on Demand

Digital Empowerment of Citizens

Page 7 WICASA Baroda — 2019

“Digital India-4 Years down the Line”

YASH SHAH

CA FINALIST

After coming to power, Prime Minister Narendra Modi gave the vision of Digital India as an important programme to transform India through the power of tech-nology and bridge the digital divide. Other programmes like Start-up India, Stand-up India and Skill India were designed to become an important adjunct to this larger narrative and complement each other.

Four years down the line, empirical evidence suggests that Digital India is not only creating empowerment but also generating employment opportunities and promoting entrepreneurship. Laying down of 2,74,246 km of optic fibre con-necting 1.15 lakh gram panchayats under BharatNet, in comparison to a mere 358 km under the previous government, speaks volumes about the speed with

There are three key vision areas of this programme which are:

1. Digital infrastructure all through the country will be a utility to the Indian people as it will make

available high speed internet delivering all the government services with ease and fast. It will pro-

vide lifelong, unique, online and authenticable digital identity to the citizens. It will make easy ac-

cess to any online services like handling bank account, financial management, safe and secure

cyber-space, education, distance learning, etc.

2. High demand of good governance and online services will make available all the services in real

time through digitization. Diitally transformed services will also promote people for doing online

business by making financial transactions easy, electronic and cashless.

3. Digital empowerment of Indian people will really make possible of digital literacy through univer-

sally accessible digital resources. It will enable people to submit required documents or certificates

online and not physically in the schools, colleges, offices or any organization.

WICASA Baroda — 2019 Page 8

There are 9 pillars on which the project Digital India is based :

Broadband Highways.

Universal Access to Phones.

Public Internet Access Programme.

E-Governance – Reforming government through Technology.

eKranti – Electronic delivery of services.

Information for All.

Electronics Manufacturing – Target NET ZERO Imports.

IT for Jobs.

In making Digital India a mass movement our programme to open BPOs in small towns of India pro-vides government support to bridge the viability gap. Many girls and boys from rural areas work in them and some even service clients from abroad. This has created opportunities for thousands of jobs.

Another area of strong growth is the e-commerce sector, mainly driven by growing rural aspirations. Apart from generating employment in direct activities related to e-commerce platforms, this growth has a positive impact on the micro, small and medium enterprises (MSMEs) and has a favourable cascading effect on other industries, creating increased employment opportunities.

The future is very promising because India’s digital economy, large size of our market, demographic dividend and passion for technology is creating enormous demand. Our digital economy also includes emerging areas like AI and IoT, the growing start-up movement and low cost, effective cyber security solutions. While we work out the details, no one doubts the potential to make India’s digital econo-my worth $1 trillion, employing 50-70 lakh people in the next 5-7 years.

Following is the list of apps every Indian should download-

1. mParivahan app –

2. GST Rate Finder-

3. Incredible India app

4. mPassport

5. MyGov

6. BHIM

7. IRCTC

8. My Vadodara

Thank You...

QUIZ—

1. A truck driver is going down a one way street the wrong way, and passes

at least ten cops. Why he is not caught?

2. An electric train is moving north at 100mph and a wind is blowing to the

west at 10mph. Which way does the smoke blow?

3. If you had only one match, and entered a dark room containing an oil

lamp, some newspaper, and some kindling wood, which would you light

first?

4. There was an airplane crash, every single person on board died, but yet

two people survived. How is this possible?

5. Which is heavier, 100 pounds of rocks or 100 pounds of feathers?

6. What has a head and a tail but no body?

7. If there are 12 fish and half of them drown, how many are there?

8. Imagine you are in a sinking row boat surrounded by sharks. How

would you survive?

9. If Mr Smith’s peacock lays an egg in Mr Jones’ yard, who owns the egg?

E-MAIL YOUR ANSWERS—wicasa .baroda@gmail.com

WINNER WILL GET A CHANCE TO WIN EXCITING PRIZES

*T&C apply

WICASA Baroda — 2019 Page 9

WICASA Baroda — 2019 Page 10

RASHMI JAJOO

CA FINALST

"LIFE IS NOT A RACE BUT A JOURNEY!!"

ACHIEVEMENTS

Chirag Mantri

AIR—19

(CA Inter)

“Presented paper at Kolhapur in the session

of GST on the topic of 'Input tax credit under

GST regime' whereby I was awarded the best

paper presenter award for that session”

“Presented paper at Calicut in the session of

technology on the topic of 'Technology for au-

diting - boon or bane?' whereby I was again

awarded the best paper presenter award for

that session”

HARSHIT MADHANI

BARODA BRANCH OF WIRC

AWARDED AS THE BEST BRANCH OF ICAI

AWARDED AS THE SECOND BEST BRANCH OF STUDENTS

ASSOCIATION