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NEWSLETTER Rajkot Branch of WIRC of the Institute of Chartered Accountants of India Web : www.rajkot-icai.org Email : [email protected]
NEWSLETTERRajkot Branch of WIRCof the Institute of Chartered Accountants of India
Web : www.rajkot-icai.orgEmail : [email protected]
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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CHAIRMAN’S MESSAGE
Dear Members!
The month of May always remains a bit relaxed after the heavy workload of March and Bank Audits and before beginning of Audits for our profession. Even with the recently concluded exams of the schools and colleges, members will have quality time to spend with their families and to make the most of the summer vacations. We believe that "Quality of life is enriched if we have a happy balance between work and family" Hence, its always a time for rejuvenating oneself with the new knowledge and ideas.
In month of April, we successfully conducted the certificate course on concurrent audit of banks., a half day seminar on recent amendments in income tax and companies Act, a half day seminar on GST updates.
This month was also dedicated towards exam-centric revisionary classis and mock test exams for students, and our efforts were well appreciated. For the benefits of students of Rajkot and nearby towns, the start new batches of CPT coaching batch at very reasonable fees was the most effective event of the month.
In the upcoming month we have planned a study circle meet on SFT related provisions under the income tax, refresher series on ICDS, refresher series on Direct Tax and a full day seminar on Tax Audit, Company Audit and GST Audit. The branch has already planned ISA PT batch. Even the branch has planned the conference of direct tax with the expert speakers from various parts of country and most useful topics in the month of June. The announcement for the same shall be made soon. Members are requested to take benefit of the same.
At branch, our efforts remain to ensure every member is well supported, equipped and trained to face the colossal task of matching the expectations of the society and the law administrators. Rajkot branch is always open to new ideas and programs, members are requested to give their contribution by way of suggestions and articles in the newsletter.
Point to Ponder: “The snake which cannot cast its skin has to die. As well the minds which are prevented from changing their opinions; they cease to be mind”
Regards,
CA. Ankit ChotaliyaChairman, Rajkot Branch of WIRC of ICAI
INSIDETHIS ISSUE
APPEAL TO CONTRIBUTE KNOWLEDGE SHARING :
Managing & Sub Committees
Forthcoming events
RERA Act 2016 –Brief about Registration
Diabetes, Obesity And Associated IllnessesPrevention & Management
Glimpse of Past events
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We wholeheartedly invite articles, professional news and updates and other useful miscellanea.
Please send/write to us on Rajkot Branch at
or
to any of the committee members.
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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CA. Amar Unadakat
CA. Sandip Katba
CA. Tanmay Shah
CA. Nayan Shah
CA. Deepti Savjani
CA. Alpesh Trivedi
CA. Ravi Bhatti
CA. Jignesh Rathod
CA. Paresh Davda
CA. Maulik Bagdai
CA. Ankit [email protected]
CA. Bhavin [email protected]
CA. Hardik [email protected]
CA. Kalpesh [email protected]
CA. Purushottam [email protected]
CA. Chandresh [email protected]
CA. Sumit [email protected]
CA. Vinay [email protected]
CA. Khushboo [email protected]
CHAIRMAN
VICE CHAIRMAN& WICASACHAIRMAN
SECRETARY &TREASURER
IMMEDIATE PAST CHAIRMAN:
BRANCHNOMINEEWIRC
MANAGINGCOMMITTEEMEMBERS:
SUBCOMMITTEEMEMBERS
MANAGING COMMITTEE
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Full Day work shop on FEMA on 12th May, 2018 - Saturday
6hours
CPE:
Time Sessions Faculties
09:00 am to 10:00 am
10:00 am to 11:30 am
11:30 am to 11:45 am
11:45 am to 01:15 pm
01:15 pm to 02:00 pm
02:00 pm to 03:30 pm
03:30 pm to 03:45 pm
03:45 pm to 05:15 pm
CA. Yash Bhatt, Baroda
CA. Chetan Shah,Mumbai
CA. Hiren Shah,Ahmedabad
All the Three Speakers
Registration and Breakfast
An overview with ECB guidelines
Tea Break
Foreign Direct Investmentand FEMA Provisions
Lunch Break
FEMA and Tax Matters for OutboundInvestment
Tea Break
Brain Trust Session
Venue :
` 700/- (plus GST @ 18%)` 900/- (Spot Registration, plus GST @ 18%)
O�ine Registration at Branch
For CA Students` 500/- (plus GST @ 18%)
Fees:
ICAI Bhawan, Giriraj Nagar Main Road, Near Raiya Circle, Off 150ftRing Road, Rajkot - 360007
FORTHCOMING EVENTS
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Halfday Seminar on GST on 26th May, 2018 - Saturday
4hours
CPE:
Time Sessions Faculties
04:00 pm to 06:00 pm
06:00 pm to 08:00 pm
Adv.. Jigar Shah,Ahmedabad
CA. Abhay Desai,Vadodara
Recent Issues in GST
Intricacies in GST ITC
Venue :
` 300/- (Excluding GST)
Fees:
ICAI Bhawan, Giriraj Nagar Main Road, Near Raiya Circle, Off 150ftRing Road, Rajkot - 360007
FORTHCOMING EVENTS
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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RERA Act 2016 – Brief about Registration
I. Object of the Act
Proper Regulation and Promotion of Real Estate SectorE�ciently & Transparently allotment of apartment / building / plot To Protect the Consumers in the Real Estate Sector
II. Applicability of the Act
Section 2, Sections 20 to 39, Sections 41 to 58, Sections 71 to 78 and Sections 81 to 92 were notified by the Central Government and came into effect from 1st May, 2016. Sections 3 to 19, Section 40, Sections 59 to 70 and Section 79 and 80 were notified by the Central Government and came into effect from 1st May 2017.
III. Liability for Registration under RERA Act 2016
U/s 3 of the RERA Act 2016, Registration of ‘Real Estate Project’ required when land proposed to be developed Exceed 500 Sq. Mtrs. or Proposed Number of ‘Apartments’ Exceed 8 including all phases ; In Case of On Going Real Estate Projects as on the date of commencement of the Act, Registration is required if Completion Certificate has not been issued and above mentioned conditions satisfies.‘Apartments’ Includes Flat, O�ce, Shop, Showroom, Shop, Godown, Tenanment etc. having separate and Self-Contained part of any Immovable Property.‘Real Estate Project’ Means Development of a building or building consist of apartments or converting existing building or a part there of into apartment or the development of land into plots or apartment for the purpose of Selling all or some of the said apartments.Promoter of the Real Estate Project can advertise, book and sale apartments, building or plot only after registering the project with Real Estate Regulatory Authority.
IV. Procedure, Details and Documents Required for Registration of ‘Real Estate Projects’ As per Section 4 of the RERA Act, 2016 and RERA (General) Rules 2017
• Application to be made in Form A as specified in RERA (General) Rules 2017• For Online Submission of Application Kindly visit : https://gujrera.gujarat.gov.in/home• Registration Fees to be Paid by way of DD drawn on Scheduled bank as follows ;
1. In Case of Group Housing Projects : Rs. 5 per Sq. M. (Square Meter) for Projects having land area upto 1000 Sq. M. And Rs. 10 per Sq. M. for Projects having land area above 1000 Sq. M. but subject to maximum Rs. 5 Lacs
2. In Case of Mixed Residential and Commercial Projects : Rs. 10 per Sq. M. for Projects having land area upto 1000 Sq. M. And Rs. 15 per Sq. M. for Projects having land area above 1000 Sq. M. but subject to maximum Rs. 7 Lacs
CA Sandip Katba
1.2.3.
RERA Act 2016 – Brief about Registration
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Commercial Projects : Rs. 20 per Sq. M. for Projects having land area upto 1000 Sq. M. And Rs. 25 per Sq. M. for Projects having land area above 1000 Sq. M. but subject to maximum Rs. 10 Lacs
Plotted Development Projects : Rs. 5 per Sq. M. but subject to maximum Rs. 2 Lacs.
Declaration along with A�davit signed by Promoter or Authorized Person to be submitted along with registration application containing details such as Proposed Project having legal and clear title of land, Land is free from encumbrances, Project Completion time period and 70% of the Amount Received from allottee shall be kept in separate bank account for construction and land cost.
• Following Documents and Details to be Submitted along with the registration application ;
Authenticated Copy of the PAN of the PromoterName, Photograph, Contact Details and Address of Individual or Promoters like chairman, partner, Directors or Authorized RepresentativeCopy of the Legal Title Deed of land or any other Agreement of land to be used for Proposed ProjectDetails of the Projects launched by promoter in fast five years along with completion status and pendency if anyCopy of Commencement Certificate obtained from competent authorityCopy of Sanctioned Plan, Layout Plan and Specifications of the Proposed ProjectDetails of Plan of Development works to be executed along with facilities to be provided like fire fighting facility, drinking water facilities, emergency evacuation service and use of renewable energyDetails of Location of the project with clear demarcation of landPerforma of the allotment letter, agreement for sale and conveyance deed to be signed with allotteesDetails of Number, Type and Carpet area of the apartments for sale along with balcony or verandah areas and terrace areas of the apartmentDetails of Number and area of garage for saleName and Address of real estate agent if any appointed for the ProjectName and Address of the Contractors, Architect, Structural Engineer and any other person concerned with the development of the ProjectPromoter shall disclose estimated cost of the project bifurcating the same into Market Value of the Land, Cost of construction, Interest, Taxes, Cess, development and all other charges in relation to the project in two stages before the application made and subsequent to the grant of registration. Means of Finance and Cost already paid out of estimated cost of the project shall be duly certified and signed by Chartered Accountant.Disclosure by promoter of ongoing project as follows ;
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RERA Act 2016 – Brief about Registration
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Original sanctioned plan & Layout Plan and subsequent modification in it, Total Money collected and now to be collected Status of the project along with time period required for completion and this information duly certified by an engineer, an architect and a chartered accountant in practice.Size of the Apartment based on Carpet area For Plotted development, area of the plot being sold to the allottees as per the layout plan
Regulatory Authority may grant registration subject to provisions and rules of RERA Act within 30 days from receipt of application.
a.b.c.
d.e.
Introduction
Overall excess of fat, Usually defined by the body mass index (B.M.I), is associated with metabolic (e.g., Glucose intolerance (Border line Diabetes), Type-2 diabetes mellitus [T2DM], High Cholesterol) and non-metabolic disorders (e.g.,Tumours, polycystic overy syndrome (PCOS), non-alcoholic fat liver disease[NAFLD], glomerulopathy, bone fragility, etc.). However, more than its total amount, the distribution of fat tissue throughout the body is a better predictor of the risk of those disorders. Fat accumulation in the abdominal area is associated with increased risk of developing metabolic and non-metabolic problems. Insulin resistance is one of the main culprits in the association between obesity, particularly visceral, and metabolic as well as non-metabolic diseases.
WHAT IS OBESITY ?
Weight that is higher than what is considered as a healthy weight for a given height is described as overweight or obese. BMI is used as a screening tool for overweight or obesity.
DIABESITY
Obasity, insulin resistance, metabolic syndrome and Diabetes Mellitus Type-2 have reached epidemic proportions. Whereas the genetic factors are still poorly understood,numerous studies have shown that obesity(in particular,central obesity),physical inactivity,a high-fat diet,and a diet rich in saturated fatty acids escalate the risk of diabetes.
Abdominal Obesity (i.e.,’’spare tire’’ syndrome )High Cholesterol (low high density lipoprotein [HDL], high low density lipoprotein [LDL] and high triglycerides)High blood pressureHigh blood sugar (fasting above 100 mg/dl,glycated haemoglobin[HB1Ac] above5.6)Systemic inflammationA tendency to form blood clot
Diabetes, Obesity And Associated IllnessesPrevention& Management
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Dr. Vidyut Shah
Diabetes, Obesity And Associated Illnesses Prevention& Management
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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PREVALENCE
In India, the prevalence of obesity is increasing at a rapid pace. Factors largely responsible for this include increase in energy intake owing to increased purchasing power and availability of high fat, energy-dense foods, along with reduction in the energy expenditure consequent to urbanization.
COMPLICATIONS
Diabesity is a modern epidemic, which indicates the co-existence of both diabetes and obesity. Linked by various pathophysiological mechanisms, revolving around insulin resistance and elevated levels of circulating insulin,diabesity has important diagnostic and therapeutic implication. Examples of complications attributed to diabesity include cardiovascular diseases(CVD),renal diseases and arthritis. The liver is an important organ as a target for ectopic fat accumulation in obesity.
MANAGEMENT
Management strategies should be geared towards achieving Glucose control, while simultaneously reaching optimal weight in diabesity. Appropriate methods of management, using dietary therapy, physical activity, Metformin, SGLT-2 inhibitors,newer insulin analogues and GLP-1 analogues,must be judiciously considered.Obesity surgery is an option when these measures fail and the person is having morbid obesity.
CONCLUSION
Dibetes type-2 is increasingly being identified among young people and even children. It constitutes a major health problem in both developed and developing countries, and with obesity, it is becoming one of the largest challenges to health care systems worldwide. Therefore, any measures that could prevent or delay the development of central adiposity and in turn diabetes are urgently needed.
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Glypmses of Past Event
Half Day seminar on Recent Changes in Companies Act and Income Tax Act on 21st April, 2018 - Saturday
Glypmses of Past Event
NEWSLETTERRajkot Branch of WIRC of the Institute of Chartered Accountants of India
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Concurrent Audit Couserse 21st & 22nd April, 2018 - Saturday & Sunday
RAJKOT BRANCH OF WIRC OF INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAICAI BHAVAN, Giriraj Nagar Main Road, Nr. Raiya Circle, Off 150 Feet Ring Road, Rajkot—360007
Tel. : 0281 — 2582411-13 | Web: www.rajkot-icai.org | Email: [email protected]
The views nd opinions expressed or implied" & material in the publication may not be reproduced. Unsolicited articles and transparaencies are sent in at the owners risk and publishers accepts no liability of
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