NORTHERN INDIA REGIONAL COUNCILOF
THE INSTITUTE OF CHARTEREDACCOUNTANTS OF INDIA
e-Newsletter
VOL. XLVI, No. 9
January 2019
Felicitated CA. Piyush Goyal Finance Minister on the occasion of Regional Conference of NIRC of ICAI
From the Desk of the Chairman...
Dear Professional Colleagues
Greetings for the day!
On the onset, I would like to Congratulate the
newly qualified Chartered Accountants. Welcome
to this glorious profession. Always remember
The tiny seed knew that in order to grow, it
needed to be dropped in soil covered with
darkness and struggle to reach the light. One can
choose to go back towards safety or forward
towards growth. Growth must be chosen, again
and again, Fear must also be overcome again and
again. The challenges we face in life are always
lessons that serve our souls’s growth.
ICAI’s role of Partner – in Nation building
has been well accepted politically and
economically in our country. At the dawn of
February we proudly saw a Chartered
Accountant presenting The Financial
Interim Budget 2019-20 and it was also a
moment of pride and gratitude when our
Finance Minister CA Piyush Goyal was
felicitated at NIRC Regional Conference on
the very next day that is 2nd February 2019.
Member Programmes
Without continual growth and progress, such
words as improvement, achievement and success
have no meaning. Without intent to learn there is
[email protected] ; [email protected]
CA. Pankaj Periwal, Chairman
CA. Nitin Kanwar, Vice-Chairman
CA. Pooja Bansal, Member
CA. Rajender Arora, Member
CA. Sumit Garg, Member
CA. Rakesh Makkar, Member
CA. Deepak Garg, Member
Editor : CA. Pankaj Periwal
Editorial Board
no innovation, creativity or incentive for
improvement. Keeping this thought in mind we at
NIRC continuously conduct member programmes
to upgrade and facilitate learning.
● O5th January, a seminar on Recent
Development in GST was held which was
deliberated by CA. Navya Malhotra, CA. Rohit
Vaswani and CA. Nagesh Bajaj.
● On 12th January, a seminar on Latest
Amendments in Companies Act was organised
wherein CA . Anil Sharma, CS. Manoj Sharma and
CS. Deepak Sharma were the key speakers.
● On 18th and 19th January, NIRC of ICAI
proudly hosted 3rd Annual Conference on
Disruptive Innovation for Transformation –Digital
and Forensics organised by Digital Accounting &
Assurance Board. CA. Sanjeev Singhal, Mr.
Arpinder Singh, CA BabuJayendran, CA. N.G.
Shankar, CA.Kedar Sawale, CA. Chetan Dalal, Mr.
Iqbal Singh CA. E. Narasimhan and CA. Tushankar
Saroha were the key note speakers.
● On 19th January, a training programme for
Refreshers and members wanting to understand
and implement Best Practices in their practice
units organised by peer review committee of ICAI
. It was successfully hosted by NIRC of ICAI.
● On 2nd and 3rd February, Regional
Conference of NIRC was held. CA Amarjit Chopra
(Past President, ICAI), CA. Ashok Batra, CA Ved
Jain (Past President, ICAI), CA. (Dr.) GirishAhuja,
CA. Manoj Fadnis (Past President, ICAI) and Mr.
Rahul Magan were the key speakers.
● Sports is where preparation and opportunity
meet. Sports build habits, confidence and
discipline. Keeping this thought in mind, every
month we at NIRC try to conduct atleast one
sports event. A cricket tournament for members
was held in January which saw a very encouraging
participation.
Students Programmes
Education is the most powerful weapon which we
can use to change the world. Education is a
passport to the future, for tomorrow belongs to
those who prepare for it today. We at NIRC
understand our responsibility and it’s our
continuous endeavour to provide them with best
possible education at affordable prices.
• A 10 days Certificate Course on GST and
• A 6 days Certificate Course on IND AS were
held for the students.
• A number of MCS Batches are running on a
continuous basis to ensure there’s no backlog and
new batches have been announced so that
students do not face problems.
• At different locations, we have tried to
provide Coaching by experienced and best quality
faculties and excellent infrastructure to facilitate
convenience in learning.
For my dear students who missed qualifying their
exams this time, remember
Optimism, is one of the most important keys to
become successful. You have to be optimistic that
the future will bring about more abundance and
prosperity into your life. Be an optimist and
expect to succeed in all your endeavours.
Pessimism does not bear fruit so there is no point
engaging in that sort of thinking, however
retrospection is essential.
Let’s tell us ourselves everyday that
“I choose to feel optimistic, confident and
capable.
Thank you and God Bless all!
rdDate: 03 February, 2019
Place: Ludhiana
CA. Pankaj Periwal,Chairman, NIRC of ICAI
January, 2019 NIRC NEWSLETTER
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Ind AS-37: Provisions, Contingent liabilities, Contingent assets
Ind AS-37 AS-29
UnderIndAS-37provisionsarediscountedtoitspresentvalueiftheeffectoftimevalueofmoneyismaterial.Refervalueiftheeffectoftimevalueofmoneyismaterial.ReferIndAS–16wherethedismantlingcostisbroughttoitspresentvalueandthensuchcostisaddedtothecostofasset.
IndianGAAPsarebasedonHistoricalCostsystemhencediscountingmodelisnotusedinAS–29.
AsperIndAS-37ContingentAssetsrequiresdisclosures inthefinancialstatements.ThenotifiedIndAS–37ismodeledasperIAS–37.
AS-29prohibitsthedisclosureofContingentAssets.
Read Full article at l.ead.me/bb3KG6
CA. Ravinder Singh Pawar
Theory of Fraud Diamond
In my earlier article on Fraud, I had explained about the “Theory of Fraud Triangle” which discussed the three common elements that are often present in a fraud schemes. These are (a) there has to be a pressure in the mind of financial need on the person committing fraud; (b) there should be an opportunity to commit fraud like weakness in Internal Controls and (c) the person committing the fraud frequently rationalizes the fraud which may include, “I’ll pay the money back”, “They will never miss the funds”, or “They don’t pay me enough.”
Read Full article at l.ead.me/bb3KB0
CA Surinder Kumar Gujral [email protected]
January, 2019 NIRC NEWSLETTER
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Foundation, Intermediate Both & Final Classes of NIRC of ICAI
25 Best Income-tax Judgments in the year 2018
Every year Courts and Tribunals deliver thousands of judgments on Income-tax Act. Taxmann’s editorial board scrutinizes each and every judgement so as to select and report all those case laws which could be helpful to better interpret the law. In the year 2018, taxmann.com has reported approx. 2,200 cases on Income-tax Act. We have
been very diligent while selecting a case law for reporting. Out of these cases, a few cases can be flagged as landmark rulings for future references and to decipher some aspects of Income-tax Act, 1961. We have listed down 25 most important cases and prepared a digest thereof. In the year 2018 various
celebrities have experienced the wrath of revenue, some judgments have either settled down an existing controversy or given rise to a new controversy.
Read Full article at l.ead.me/bb3QnQ
Taxmann Editorial Board [email protected]
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January, 2019 NIRC NEWSLETTER
Forthcoming ProgramCA. Women Conference
Day & Date
Timings
CPE Hrs
Venue
Online
Payment
Saturday, 09th February, 2019
09.30 AM – 05.30 PM
6 (Six) CPE Hrs.
Hotel Royal Plaza
•Rs. 500/- online at www.nirc-icai.org/seminars
•Rs. 600/- only with Cheque/DD on spot
•No Cash will be accepted
No fees for Women Annual Members of NIRC (All Study Group)
Seminar on International Taxation & Annual Award Function NIRC of ICAI
Day & Date
Timings
CPE Hrs
Venue
Online
Payment
22nd & 23rd February, 2019
09.30 AM – 05.30 PM
6 (Six) CPE Hrs.
To be decided
•Rs. 1500 + GST (For one day only) with Cheque/DD on the spot
•Rs. 2800 + GST online (For both days) at www.nirc-icai.org/seminars
•Rs. 2800 + GST only with Cheque/DD on the spot
•No Cash will be accepted
•No fees for Annual Members of NIRC of ICAI 2018-19 (All Study Group)
Registration is compulsory for Annual Members of NIRC (2018-19)
Seminar on Ind AS
Day & Date
Timings
CPE Hrs
Venue
Online
Payment
Saturday, 02nd March, 2019
09.30 AM – 05.30 PM
6 (Six) CPE Hrs.
To be decided
• Rs. 1400/- + GST Online at www.nirc-icai.org/seminars
• Rs. 1500/- + GST Only with Cheque/DD on the spot
• No Cash will be accepted
No fees for Annual Members of NIRC (All Study Group).
Seminar on Bank Audit
Day & Date
Timings
CPE Hrs
Venue
Online
Payment
Saturday, 09th March, 2019
09.30 AM – 05.30 PM
6 (Six) CPE Hrs.
To be decided
• Rs. 1400/- + GST Online at www.nirc-icai.org/seminars
• Rs. 1500/- + GST Only with Cheque/DD on the spot
• No Cash will be accepted
No fees for Annual Members of NIRC (All Study Group).
Seminar on GST
Day & Date
Timings
CPE Hrs
Venue
Online
Payment
Friday, 15th February, 2019
09.30 AM – 05.30 PM
6 (Six) CPE Hrs.
To be decided
• Rs. 1400/- + GST Online at www.nirc-icai.org/seminars
• Rs. 1500/- + GST Only with Cheque/DD on the spot
• No Cash will be accepted
No fees for Annual Members of NIRC (All Study Group).
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GLIMPSES
A View at the Seminar on GST held on 5th January 2019
January, 2019 NIRC NEWSLETTER
A View at the CA. Students Festival held on 11 January 2019
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January, 2019 NIRC NEWSLETTER
A View at the Seminar on Recent Changes in Companies Act held on 12th January 2019
A View at the One Day Training Programme for Peer Review held on 19th January 2019
A View at the Cricket Tournament for Member (NPL 2018-19) Organised by NIRC of ICAI
ICAI 3rd-Annual Conference on Disruptive Innovation for Transformation-Digital and Forensic.
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January, 2019 NIRC NEWSLETTER
Two Days Regional Conference of NIRC of ICAI held at Hotel Le Meridien, Delhi on 2nd & 3rd February 2019
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January, 2019 NIRC NEWSLETTER
A View at the Deemed Gifts and Valuation of Issue and Transfer of Shares Organized
by Ludhiana Branch of NIRC of ICAI
A View at the Seminar on GST Audit & Input Tax Credit Organized
by Ludhiana Branch of NIRC of ICAI
A View at the Badminton Tournament for CA Members Organized by
Ludhiana Branch of NIRC of ICAI
Seminar on “Foreign Trade Policy 2015-20 & Overseas Direct Investment” Organized
by Gurugram Branch of NIRC of ICAI
Seminar on Practical & amp; Technical Tips for representing case before CIT(A) and ITAT
organized by Faridabad Branch of NIRC of ICAI
Seminar on “Reviews-Companies Act, SEBI-LODR SME-Listing and Angel Tax” Organized by Gurugram Branch of NIRC of ICAI
ICAI Conference on Internal Audit Organized by Internal Audit Standards Board of ICAI Hosted by Gurugram Branch of NIRC of ICAI
Celebration of Branch Foundation Day & Republic Day & Branch Inauguration of Gurugram Branch of NIRC of ICAI
A View at the Student Conference organized by Amritsar Branch of NIRC of ICAI A View at the Republic Day Celebration organized by J & K Branch of NIRC of ICAI
A View at the Seminar on GST & Income Tax organized by Faridabad Branch of NIRC of ICAI
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CA. Pankaj Periwal,Chairman, NIRC of ICAI
Mob. 9417240316Email- [email protected]
CA. Nitin KanwarVice-Chairman, NIRC of ICAI
Mob. 9716048641, 9810387163Email- [email protected]
CA. Pooja Bansal (Mrs.)Secretary, NIRC of ICAI
Mob. 9810550051Email- [email protected]
CA. Rajender AroraTreasurer, NIRC of ICAI
Mob. 9891112120Email- [email protected]
CA. Sumit GargChairman, NICASAMob. 9560064645
Email- [email protected]
CA. Deepak GargMember, NICASAMob. 9811064105
Email- [email protected]
CA. Yogita Anand(Mrs.)Member, NIRC of ICAI
Mob. 9582447118Email- [email protected]
CA. Rajesh Kr. AgrawalMember, NIRC of ICAI
Mob. 9868156062, 9910056062Email- [email protected]
CA. Rakesh MakkerMember, NICASAMob. 9811104384
CA. Vivek KhuranaMember, NIRC of ICAI
Mob. 9868520786Email- [email protected]
CA. Alok JainMember, NIRC of ICAI
Mob. 9899259011Email- [email protected]
CA. Rajinder NarangMember, NIRC of ICAI
Mob. 09416045023, 09812645023Email- [email protected]
CA. Swadesh GuptaMember, NIRC of ICAI
Mob. 9312580854Email- [email protected]
January, 2019 NIRC NEWSLETTER
January, 2019
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