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1OCTOber 2017

7, Jolly Bhavan #2, New Marine Lines, Mumbai - 400020. Tel : + 91 22 613 77 600 ; Email : [email protected] ; Website : www.bcasonline.org

Vice-President’s Communiqué

Harnessing Talent and Providing Quality Service A Monthly Newsletter of the Bombay Chartered Accountants’ Society

BCASNewsletterFor Members only. For Private Circulation only. Price: R10

(Continued on page 2)

President: Narayan R. Pasari 98200 38095 | [email protected]

Vice-President: Sunil B. Gabhawalla 98213 23921 | [email protected]

Hon. Jt. Secretary: Manish P. Sampat 98200 10064 | [email protected]

Hon. Jt. Secretary: Abhay R. Mehta98202 28182 | [email protected]

Hon. Treasurer: Suhas Paranjpe 98690 74643 | [email protected]

Vol. 20 n No. 07 n OCTOBER 2017

Lecture Meeting: Developments in Insolvency & Bankruptcy Code................15.11.2017....................BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai........................... 01

Lecture Meeting: Combating Economic Offence & Financial Crimes

- Role of Finance Professionals..........................................................13.12.2017....................BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai........................ 01

Finserv Conclave..................................................................................................................................10.11.2017...................St. Regis Hotel, Senapati Bapat Marg, Lower Parel, Mumbai............................ 03

Full day Seminar on Allied Laws...............................................................................................17.11.2017.....................BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai.......................... 04

Data Analytics for Audit And Business Decision Making-

Hands on Training Workshop.......................................................................................................22.12.2017...................BCAS Hall, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai.......................... 05

51st Residential Refresher Course (RRC).................................................................11.01.2018 to 14.01.2018....Dreamland Hotel, Mahabaleshwar................................................................................ 03

16th Residential Leadership Retreat 2018.............................................................23.02.2018,24.02.2018....Rambhau Mhalgi Prabodhini, Keshav Shrushti, Bhayander (W) Dist Thane.. 06

PROGRAMMES AT A GLANCE DATE VENUE PAGE NO.

Watch, Like, Share, Connect with us @ BCAS Global

LECTURE MEETiNGS

Speaker: Mr. Jayakumar – IPS ( Additional Commissioner of Police )

Subject: Combating Economic Offence & Financial Crimes - Role of Finance

Professionals

Venue: BCAS Hall, 7 Jolly Bhavan No. 2, New Marine Lines, Mumbai

Day, Date & Time: Wednesday, 13th December, 2017 at 6.15 p.m.*

Speaker: Advocate Kumar Saurabh Singh

Subject: Developments in Insolvency & Bankruptcy Code

Venue: BCAS Hall, 7 Jolly Bhavan No. 2, New Marine Lines, Mumbai

Day, Date & Time: Wednesday, 15th November, 2017 at 6.15 p.m.*

*(Fellowship over a cup of tea at 5.45 p.m)

Dear Members,

As we remember the Mahatma on the occasion of Gandhi Jayanti, one of the important virtues relating to ‘Satya’ or truth immediately comes to our mind. Seven decades post-independence, this is even more relevant, especially from the perspective of our profession, where we are licensed to ‘certify true and fair presentation of accounts’. When looking at this ‘true’ view, it may be important to bear in mind that any fact may be true in a particular frame of reference. In that sense, a true and fair view necessarily means a professional opinion of a member and is also subject to inherent limitations of the audit process.

I had concluded my last communication with a wish that on the occasion of Dushera, Truth prevails over Myth and we bear the wisdom to differentiate between the two. The key issue in today’s environment is the differentiation. Since time immemorial, Myth has presented itself as Truth like the ‘Golden Deer’. The advances in technology have made the task of such misrepresentation much easier. Not only news but vital documents can be ‘photoshopped’ in seconds and may pass on as genuine documents. As audit and tax professionals, we will need to develop more awareness of emerging technologies and frauds to really discern the Truth from the Myth.

The advances in technology have their own advantages as well. The Society has always been at the forefront in harnessing the use of technology for knowledge dissemination. The Society is active on various social media like Linkedin, Facebook, Twitter

and Youtube. This month, two significant technology initiatives have been undertaken by the Society.

The Society has implemented a state-of-the-art e-learning platform. This platform will enable a quick release of both free and paid courses for all our members. The e-learning platform will include video recordings of various programs conducted at BCAS along with the presentations and course materials. The platform will also integrate within itself various quizzes and tests and can help to evaluate the learning outcomes. Members can participate in discussions, receive the latest announcements and also compete in friendly leaderboards for each course. I encourage you to log in and access the system in the coming days, and also to share your feedback on how we can make this initiative even better.

2 OCTOber 2017

(Continued from page 1)

The period of 100 days since the introduction of GST has been very hectic with a lot of focus on implementation and compliance. In this busy schedule, it is also important to step back and reflect on fundamental legal provisions. To balance the needs of time and convenience, the Society felt it appropriate to record a series of short educational videos on very relevant topics where experts have provided their thoughts on various topics of GST. Each video is around 10-15 minutes and is suited for the ‘mobile’ audience, who can view these videos as per their convenience on mobile devices. The videos can be accessed at the Youtube Channel of the Society.

“This too shall pass” – I am sure many members would have this feeling while balancing multiple compliance deadlines, festivities of the season and the vagaries of nature. The Persian adage is perhaps a simple reminder of the transitory times that we live in. When news of gloom on the economic forefront are abundant, perhaps this adage can instill a sense of positivity and optimism in all of us.

Immediately after the festive season, the Society has lined up a series of programs including the much awaited Residential Refresher Course. The RRC is an innovation of the Society and has since then been adapted by many other professional organisations. Those who have attended the RRC earlier will vouch that it is an experience beyond description. I urge the members to participate in the RRC in large numbers and re-invigorate the ideal combination of learning, leisure and pleasure. The details of the RRC and other programs are available in the newsletter.

As we move closer towards Deepawali, the festival of lights, most of us would have undertaken cleanliness initiatives in our homes and offices. Should cleanliness be merely a once in a year ritual or should it be a way of life? I frequently see heaps of papers and files on the desks of professionals and staff. At times, such documents are clumsily maintained. Can we start the first step by resolving that we shall keep our desks and drawers clean throughout the year? Can we extend this step by resolving to maintain our homes and offices clean? Can we resolve to also keep our surroundings clean by at least not adding to the garbage? Can we also resolve to assist the Government and various NGOs in their initiatives towards increasing cleanliness in the Society?

Cleanliness may not merely refer to the cleanliness of the surroundings but also cleanliness of thought, speech and conduct. I am reminded of the three wise monkeys of Mahatma – “See no Evil, Hear no Evil, Speak no Evil”. The day we are able to achieve these objectives, the world would definitely be a better place.

With warm wishes for a very happy Deepawali and a Prosperous New Year, I remain

Yours truly,

CA. Sunil Gabhawalla

ALL THE THREE CLiNiCS WiLL BE HELD iN THE LiBRARy Of THE SOCiETy

RiGht to infoRmAtion CLiniC

ChARitABLe tRuSt CLiniC

Advisory Panel : Hema D. SampatClinic Co-ordinator: Mrs. Madhuri Haware – 61377613

Advisory Panel : Dr. Gautam N. Shah and CA. Tushar K. DoctorClinic Co-ordinator: Mrs. Madhuri Haware – 61377613

Foundation operates a Right to Information (RTI) Clinic on a regular basis. The Clinic provides help and guidance to BCAS members as also to non-members, i.e., all citizens, for making applications under the RTI Act and also assists in resolving any related difficulties on the subject of RTI. The RTI Clinic operates on Saturdays from 11 am to 1 pm. The next RTI Clinic days accordingly are 28th October & 4th, 11th, 18th & 25th November 2017. Please call to obtain a prior appointment.

The next Charitable Trust Clinic will be held on 3rd November 2017 from 5 pm to 7 pm.

Chartered Accountants and Trustees interested in having their queries solved are requested to send their queries by email to [email protected] and call to obtain a prior appointment, latest by noon on the day of the clinic. Querists are also advised to bring along relevant papers like trust deeds, audited accounts, etc.

ACCountS & Audit CLiniCAdvisory Panel : CA. Sanjeev R. Pandit, CA. Himanshu V. Kishnadwala, CA. Jayesh M. Gandhi Clinic Co-ordinator : Mrs. Madhuri Haware – 61377613 The next Accounts & Audit Clinic will be held on Saturday, 4th November 2017 from 4 pm to 5 pm. Persons interested in having their queries pertaining to implementation of Accounting Standards, Ind AS implementation, Auditing Standards Reporting requirements, Companies Act compliance, issues relating to Accounting aspects and Auditing aspects, etc. are requested to send their queries by e-mail to [email protected] one week in advance and call to obtain prior appointment, at least a day before the day of the clinic. Please note that the panel will not answer any queries pertaining to tax issues.

3OCTOber 2017

FINSERV CONCLAVE

Dear Member,

India has a diversified financial sector undergoing rapid expansion, both in terms of strong growth of existing financial services entities as well as new entities entering the market. The Government of India and Reserve Bank of India have introduced several reforms to liberalise, regulate and enhance this industry.

The Finserv Conclave offers a fresh perspective on issues affecting the financial services sector today. This program will look to define both the opportunities and the perils which lay ahead in tax, accounting, structuring and regulatory areas including emerging financial instruments such as REITs, INVITs and the use of trusts in structuring the entities. The Conclave will comprise of interactive dialogue, analysis and exposure to renowned faculty.

We are pleased to present a full day program to update the knowledge and enhance the professional competencies of our members on the above subject.

Details as follows:

The Direct Tax sessions would cover overview of Trust Structuring, Financial Services Entities Structuring, the Indian Trust Act, Taxation of Securitisation Trusts, REITS and InvITS and recent developments.

Day & Date Friday, 10th November, 2017

Time 9.30 a.m. to 6.30 p.m. (Breakfast & Registration from 9.00 am to 9.30 am)

Venue St. Regis Hotel, Senapati Bapat Marg, Lower Parel, Mumbai- 400 013 (Palladium Mall)

fees For members of BCAS = R3,750 + 18% GST (Total = R4,425)For non-members = R4,250 + 18% GST (Total = R5,015)(inclusive of breakfast, lunch, tea/coffee and contribution to BCAS Foundation)

TAXATION COMMITTEEChairman: CA. Ameet Patel

Convenors: CA. Anil D. Doshi, CA. Hardik D. Mehta, CA. Jhankhana ThakkarProgramme Co-ordinators : CA. Akshata Kapadia Kothari and CA. Jagat Mehta

Topics Speakers

Direct Tax – Session 1 Ashwath Rau

Regulatory issues (SEBi / Corporate Laws) Sandeep Parekh

General Overview of Trust Taxation and Taxation of Aif and VCf Subramaniam Krishnan

issues in indirect Taxes Parind Mehta

Accounting & Auditing issues Venkatramanan Vishwanath

Direct Tax – Session 2 Bhavin Shah

Concluding Session

51st Residential Refresher Course (RRC) from 11th January, 2018 to 14th January, 2018

at Dreamland Hotel, Mahabaleshwar.block your

dates

4 OCTOber 2017

Doing business or rendering services or carrying on a profession has witnessed a paradigm shift with implementation of new laws and regulations. In such a fast & ever changing world, it has become equally important to have knowledge about various applicable Allied Laws that govern the conduct of business in India, to arrive at a well-considered decision or conclusion.

To throw light on such an important topic and to create awareness about some of the critical aspects of Allied Laws, we present this full day seminar.

FuLL dAy SEMINAR ON ALLIEd LAwS

*Early Bird offer valid on receipts entered at BCAS office on or before 14th October, 2017.

CORpORATE & ALLIEd LAwS COMMITTEEChairman: CA. Harish Motiwalla

Convenors – CA. Anand Bathiya, CA. Harsh Dedhia and CA. Zubin BillimoriaProgramme Co-ordinators – CA. Pooja Punjabi and CA. Preeti Oza

Sr. No. Topics Speakers

1 Securities Law Compliances Adv. Anil Choudhary

2 Real Estate Regulatory Act – Overview of practical issues and certification challenge CA. Jayesh Kariya

3 Valuation under sections 43CA, 50C and 56(2)(vii) of the income-tax Act, 1961 vis-à-vis Bombay Stamp Act, 1958

CA. Pradeep Kapasi

4 financial Crimes along with Section 138 of Negotiable instruments Act, 1882 Adv. Yogesh Israni

Day & Date Friday, 17th November, 2017

Time 9:30 AM to 5:30 PM

Venue BCAS, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai 400020

fees

(Fees include course material, breakfast, lunch, GST and R50 towards contribution to BCAS Foundation)

fee Structure fee R GST R Total Payable R*Early Bird till 14th October 2017 Members 1,500 270 1,770

Non-Members 1,700 306 2,006fee after 14th October 2017 Members 1,700 306 2,006

Non-Members 1,900 342 2,242

5OCTOber 2017

dATA ANALyTICS FOR AudIT ANd BuSINESS dECISION MAkINg - HANdS ON TRAININg wORkSHOp

Dear Member,

Have you been using Excel since long and are passionate to take your analytical skills to the next level? This thoughtfully designed, power packed training program will ensure that you get a complete hang on select, cutting-edge Excel functionalities. But that’s not all. By the end of the session, you shall also learn to apply these functionalities in real world business and audit situations and interpret results.

Workshop Objective:-

To enable participants leverage advance Excel functionalities for Audit Analysis & business problem solving, is the objective of this unique one day training program.

Workshop exclusively designed for

1. Managers and Executives (across industry segments) in MIS, Production, Marketing Analysis, Procurement, Financial controllers/Finance staff, Project managers, Sales managers, business and financial analysts who create reports, analyze data, or use spreadsheets in their work and who need to take business decisions based on analysis of data

2. Chartered Accountants and team members in Audit function

3. Since this workshop focuses on analytical, reporting and business problem solving skills, it is especially useful to people who report to Managers and/or Key Decision makers.

Note:-

1. This being hands-on training workshop, participants shall get their own Laptops with MS Excel preloaded.2. Enrolment restricted to a small group, to facilitate interaction, discussion and hand holding. 3. Expect advance techniques in Excel from the program; so those hands-on with Excel shall enroll.

Day & Date Friday, 22nd December 2017

Time 9.30 a.m. to 6.00 p.m.

Venue BCAS, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai 400020

fees Member Non-Member

R2,250 + R405 (GST) = R2,655 R2,500 + R450 (GST) = R2,950

fees The above fee includes GST,contribution of R50 towards BCAS Foundation, cost of study material, breakfast, tea, coffee and Lunch

HuMAN dEVELOpMENT & TECHNOLOgy INITIATIVES COMMITTEEChairman: CA. Rajesh Muni | Co-Chairman: CA. Mihir Sheth

Convenors: CA. Mukesh Trivedi, CA. K. K. Jhunjhunwala, CA. Nikunj Shah, CA. Anand KothariProgramme Co-ordinator: CA. Nikunj Shah

Session i• Data Analytics for Business Decision Making

CA. Nikunj S. Shah, Mumbai

Session ii• Data Analytics for Audit & Investigations

CA. Saran Kumar, Hyderabad

6 OCTOber 2017

SIXTEENTH RESIdENTIAL LEAdERSHIp RETREAT 2018Man is constantly in search of happiness. Every year HDTI Committee organizes Residential Leadership Camp on varied subjects. This has assisted many of the regular participants to find the meaning in life and become better human beings. The HDTI Committee now announces the “Sixteenth Leadership Residential Retreat 2018” based on the theme ‘Saptapadi of happiness in family’ (Seven Steps to family happiness). It will also touch upon ways to build Family brand in profession, vocation or business. The Retreat will be held in February spread across 2 days and 1 night.

The learned faculty Shri mahendra Garodiya, (who guided us in the Fifteenth non Residential Leadership Workshop 2017 on the theme of Chanakya Business Sutra) has again consented to anchor the programme this year.

(Saptapadi) Seven steps based on our time tested values and culture are: Common Vision, Success habits, Accountability, un-conditional Love & Respect, Appreciation, family as a brand and Celebration together.

Takeaways: Through this Retreat, the participants:

• Will experience and rediscover this profound knowledge and learn how to apply it in current turbulent times.

• Discover how to be happy prospering materially in ethical and humanitarian manner and with inner happiness.

• Will resound that prosperity and happiness are not mutually exclusive.

It aims to guide the participants to share happiness with family, society, in profession and work environment.

Members are encouraged to register for this retreat with their spouse.

The learned faculty will help the participants to develop personal family programmes including a detailed schedule of implementing the lessons learnt during the retreat.

Program details:

*Contribution per Member is inclusive of One night, Two days stay, Breakfast for two days, Lunch for two days, Dinner for one evening, Study Material and Transport on Car pool facility.

Please note number of participants are restricted to only 40 on First Come First Served basis.

About the faculty:

Mr. Mahendra Garodiya has authored “Chanakya Business Sutra” and “What’s Stopping your Growth” and is a Management Accountant (CMA/ICWAI). He has been a Business Coach to more than 100 SMEs across India helping them grow based on Ancient Indian Management Knowledge. His coaching relies primarily on the Indian Philosophy of Management as propounded by Chanakya.

Mr. Garodiya has intensely focused on Chanakyaniti and Gandhian principles of Management. He qualified as a business coach through the ICF Certification programme and has conducted programmes for IIT, Ahmedabad Management Association, Swami Vivekanand College of Management & Research, Sanchi University, Kolhapur University and many other reputed institutions. Mr. Garodiya has trained more than 1,000 business entrepreneurs and is currently growth partner for 15 companies in varied fields.

Days Friday & Saturday

Dates 23rd and 24th February 2018

Venue: Rambhau Mhalgi Prabodhini, Keshav Shrushti, Bhayender Esselworld Road, Bhayender -West, Dist Thane

faculty: Mr. Mahendra Garodiya

Participation fees (per person)*

R5,085 plus GST @18% R915= R6,000for Members and Spouse (each)

R5,508 plus GST @18% R992= R6,500 Members registering individually

R5,932 plus GST @18% R1,068= R7,000 for Non-Members

HuMAN dEVELOpMENT & TECHNOLOgy INITIATIVES COMMITTEEChairman: CA. Rajesh Muni | Co-Chairman: CA. Mihir C. Sheth

Conveners: CA. Mukesh G. Trivedi, CA. Krishna Kumar Jhunjhunwala, CA. Nikunj Shah, CA. Anand Kothari

7OCTOber 2017

enrolment form Sixteenth Residential Leadership Retreat 2018

BCAS Membership No (If Applicable)……………………………........................................................................................................................................................................................................................................................………..Mr. / Ms.…………………………............................................................................................................................................................................................………............................................................................................................................................of (firm name)………………………….....................................................................................................................................................................................................................................................................................................................………..Address …………………………................................................................................................................................................................................................................................................................................................................................………..…………………......................................................................................………………….....................………….…………………………Pin Code………………..................................................................................................................................................……....Email:…………………………............................................................................................................................................................................................................................................................................................................................................………..Tel (O)……………....………..……...........................................………. Tel (R)…………...............................................................………………. Mobile No:…………......................................................................................................................………..Choice of food (wherever applicable) Jain :- ................................................................................................................Veg :- ............................................................................................................................................We enclose herewith

Please find below NEfT details Bank Name : Axis Bank Ltd. Branch : New Marine Lines, Mumbai - 400020Saving Account No : 233010100179485 IFS Code : UTiB0000233Swift Code : AXiSiNBB173

Note: An email communication on transfer of funds through NEfT to be communicated at [email protected] for processing the payment. Registration will be confirmed only post email intimation.Date :______________________________ Signature of Participant

Cash/Draft/ Cheque no : Drawn on :Dated : Amount Rs.

Note:

• Please fill in the above form and send the same to the Society’s office along with requisite payment.

• Payment Mode can be: Cheque / Demand Draft / Cash or Electronic Card (at BCAS office only).

• Please mention your name and membership number (if applicable) on the reverse side of the Cheque/ Demand Draft.

• Kindly note that the cash counter timings are from 10.30 a.m. to 5.30 p.m. on Monday to Friday and 10.30 a.m. to 1 p.m. on Saturday. The lunch time

is 1.30 p.m. to 2 p.m. Participants are requested to co-operate in this regard.

• The Cheque/ dd will be in the name of “Bombay Chartered Accountants’ Society”. Your participation will be confirmed only after the

realization of payment at BCAS, for which a receipt will be provided for your reference.

• Cancellation policy: Kindly note that no refund will be given in case of cancellation for any reason and no substitute will be allowed.

Bombay Chartered Accountants' Society

• Email – [email protected] • Website – www.bcasonline.org • E-Journal – www.bcajonline.org

8 OCTOber 2017

9OCTOber 2017

Mr. / Mrs./ Miss.

CITY: STATE: PINCODE:

COUNTRY: MOBILE: Tel (O) :

EMAIL ID: Tel (R) :

DATE OF BIRTH: (DD/MM/YYYY) BLOOD GROUP:

ICAI REGN. NO. : ICAI REGN. DATE: (DD/MM/YYYY)

GENDER : MALE / FEMALE FROM INDUSTRY / PRACTICE

GSTIN*

Bombay Chartered Accountants’ Society7, Jolly Bhavan No.2, New Marine Lines, Mumbai 400020. Tel: 61377600

E-mail: [email protected] Website: www.bcasonline.org E-Journal: www.bcajonline.org

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Entrance Fee 1,180.00 590.00

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Life Membership (without Journal) 1 11,800.00 11,800.00

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Journal Subscription 2 1,200.00 1,200.00

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Note:1. Outstation payments to be made by Demand Drafts only. Payable at Mumbai. Now you can pay online on www.bcasonline.org 2. Cheques/Draft should be drawn in favour of “Bombay Chartered Accountants’ Society”.3. Please attach a photocopy of Membership Certificate of The Institute of Chartered Accountants of India.4. Office timing: 10.30 a.m. to 1.30 p.m. and 2.00 p.m. to 5.30 p.m.

• In case of new members and renewals of existing membership, the recipient of the supply can be the member only. Therefore, only the GST registration number of the member ( and not the firm) will be recognized. in case the member is not registered under the GST Law, the same shall be treated as B2C Transaction. it may also be stressed that all pending renewals which are renewed after the transition date will be liable for GST.

(for individuals)

[IN BLOCK LETTERS PLEASE]

10 OCTOber 2017

puBLICATION puBLICATION NAME dISCIpLINE wHO CAN BENEFIT AuTHORS MEMBER pRICE

OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations

Audit Checklist for Companies(for Unlisted Companies not following indAS)

PAyMENTS TO NON-RESiDENTS – A Guide On ReportingTax Deduction At Source Under Section 195

Golden Jubilee Residential Refresher Course Nostalgia

BCAS Referencer 2017-18

Seminar on Estate Planning, Wills & family Settlement – Critical Aspects PEN DRiVE

fAQs on Accounting Standards

Monograph Series 2017a) Competition Law – A Primerb) Corporate Social Responsibilityc) Freedom and Restrictions

on speech and expression in social media in the light of the recent Supreme Court decision

d) India’s Law on Prevention of Sexual Harassment at Workplace

e) SEBI (Prohibition of Insider Trading) Regulations, 2015

Transfer Pricing

Auditing

Tax Deduction At Source Under Section 195

A Collection of memories

Accounting & Auditing, Direct Taxes, Indirect Taxes, Company Law & Other Laws

Allied Laws

Accounting Standards

Corporate & Allied Laws

Members R2000Non-Members R2300For Postage Chargesin Mumbai R65Outside Mumbai R150

Members R500Non-Members R700For PostageCharges R150

Price R150For PostageCharges R35



Price R1,000For PostageCharges R100



Chartered Accountants, Trade & Industry Professionals

Chartered Accountants, Audit Professionals, Trade & Industry Professionals

Chartered Accountants, Legal Professionals, Trade & Industry Professionals

Anyone

A handy compilation of all laws for every professional

Every individual whether a professional, or an entrepreneur or a housewife or student .., Libraries, Universities, Colleges, Institutions / Associations / Forums / Societies / Councils / Bodies of professionals / individuals guiding / capable of guiding people, ….


Any one

OECD and BCAS

(Publishers)

CA. Raman H. Jokhakar, and CA. Nalin M. Shah

CA. N. C. Hegde, CA. Mallika Apte and CA. Risha Gandhi

Various Compilers

Speakers • CA. Dileep Choksi • Dr. Anup P. Shah • Mr. Mahesh Shah –

Solicitor • CA. Yogesh Thar

• CA. Zubin F. Billimoria• Adv. Preetha S. • Adv. Vikram Shroff• CA. CS. Sanjeev Shah• CS. Ruchi Shah• Mr. Varun Thakur, 4th

year student, BA, LLB• Ms. Alankrita Singh, 4th

year student, BA, LLB

• CA. Himanshu V. Kishnadwala • CA. Abhay Mehta • CA. Amit A. Purohit • CA. Ashutosh A. Pednekar • CA. Gautam Shah • CA. Manish P. Sampat • CA. Paresh H. Clerk • CA. Vipul K. Choksi • CA. Nikhil Patel • CA. Zubin Billimoria • CA. Sandeep Shah • CA. Suril V. Shah • CA. Mitesh J. Majithia • CA. Kruti Sangoi • CA. Mukesh Trivedi • CA. Anil Saxena • CA. Nalin Shah

BOMBAy CHARTEREd ACCOuNTANTS' SOCIETypuBLICATIONS AT BCAS

11OCTOber 2017

e-PublicationUnion Budget 2017 - An analysis by BCAS

English

e-PublicationUnion Budget 2017 - An analysis by BCAS

Gujarati

internal Audit - Practical Case Studies

Non-Banking financial Companies – A Treatise

Partnership firms Registration Procedure and frequently faced issues with Registrar of firms

GiTA for Professionals in English

e-Publication The Direct Tax Dispute Resolution Scheme 2016 – An Analysis

e-Publication Rules of interpretation of Tax Statutes

Analysis on Budget

Analysis on Budget

Internal Audit

NBFC Regulations

Indian Partnership Act, 1932

Inspirational

Direct Taxation

Law

Free e-Publication

Free e-Publication





Free e-Publication

Free e-Publication



Chartered Accountants, Legal Professionals, Trade& Industry Professionals


Tax Payers, Chartered Accountants in Practice, Legal Professionals, Compliance Professionals, Students, Accountants, Libraries, Universities, Colleges and other institutions

Chartered Accountants, Legal Professionals, Students and Citizens at large.



Contributors

Contributors

• CA. Deepjee Singhal

• CA. Manish Pipalia

• CA. Bhavesh Vora • CA. Zubin Billimoria • CA. Hardik Chokshi • CA. Gautam Shah • CA. Heneel Patel

• CA. Uday Sathaye

• CA. Chetan Dalal

• Advocate N. M. Ranka

• CA. Saroj Maniar

puBLICATION puBLICATION NAME dISCIpLINE wHO CAN BENEFIT AuTHORS MEMBER pRICE

BOMBAy CHARTEREd ACCOuNTANTS' SOCIETypuBLICATIONS AT BCAS

12 OCTOber 2017102 BOMBAY CHARTERED ACCOUNTANT JOURNAL SEPTEMBER 2017

786 (2017) 49-A BCAJ

13OCTOber 2017

14 OCTOber 2017

15OCTOber 2017

From rBIContributed by : Gaurang V. Gandhi

The Reserve Bank of india has issued the following 3 Circulars

A. P. (DiR Series) Circular No. 4 dated September 15, 2017Export Data Processing and Monitoring System (EDPMS)issuance of Electronic Bank Realisation Certificate (eBRC)This circular provides that banks must: -a. Update the EDPMS with data of export proceeds on “as and

when realised basis”.b. Generate, with effect from October 16, 2017. Electronic Bank

Realisation Certificate (eBRC) only from the data available in EDPMS.

A. P. (DiR Series) Circular No. 5 dated September 22, 2017investment by foreign Portfolio investors in Corporate Debt Securities – Review

Presently, Rupee denominated bonds overseas (Masala Bonds) by resident entities are considered both under Combined Corporate Debt Limit (CCDL) for FPI and External Commercial Borrowings (ECB).This circular provides as under: -a. Masala bonds will no longer form a part of the limit for FPI

investments in corporate bonds but will considered as ECB on from October 3, 2017.

b. The amount of R44,001 crore released from the shifting of Masala Bonds to ECB will be available for investment by FPI in corporate bonds over the next two quarters – R27,000 crore in Q3 of FY 18 and R17,001 crore in Q4 of FY 18.

c. Out of the toral amount available for FPI investment in each quarter a sum of R9,500 crore will be specifically available for investment in infrastructure sector (as defined in the Master Direction on ECB) by long term FPI (i.e., Sovereign Wealth Funds, Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks). Long term

BomBAY ChARteRed ACCountAntS’ SoCietY - STAff CONTACT DETAiLS

Sr. No Name Role Email iD Direct Line

1 Ms. Mamta VarmaMember Relations Executive

Membership, Imprest, Publications andOnline Payments

[email protected] 61377616

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3 Mr. Prakash Palsamkar, Front Desk Executive Enrollments and Collections [email protected] 61377629

4 Ms. Khushali Brahmbhatt Communication Manager [email protected]

61377635

5 Mr. Javed Siddique, Events Manager Co-ordinator for Lecture meetings, Seminars, Workshops & Residential Courses


6 Mr. Bilal Ansari, Asst. Event Manager Co-ordinator for Lecture meetings, Seminars, Workshops & Residential Courses


7 Ms. Reema Pawar, Events Executive Co-ordinator for meetings and study circles at BCAS office


8 Mr. Manoj Singh Graphics Designer for Announcements, Standees, Banners etc


9 Mr. V. K. Sharma, Knowledge Manager Journal & Newsletter Production [email protected] 61377619

10 Ms. Madhuri Haware,Asst. Knowledge Manager

Journal & Newsletter Production [email protected] 61377613

11 Ms. Rathi Nair, Secretary to President Executive Assistant [email protected] 61377612

12 Mr. Upendra Hisaria, Office Manager General Office Administration & Escalations and all other matters not mentioned above


FPI will continue to be eligible to invest in sectors other than infrastructure also.

A. P. (DiR Series) Circular No. 6 dated September 22, 2017issuance of Rupee Denominated Bonds (RDBs) Overseas

This circular states that, consequent to the removal of Rupee Denominated Bonds from the investment limit for FPI in Corporate Bonds, Banks are now required to report investment in Rupee Denominated Bonds only under ECB reporting mechanism.

16 OCTOber 2017

Registered with the Registrar of Newspapers for India under R.N. 68365/98 Regd. No. MCS/093/2015-17Posted at Mumbai Patrika Channel Sorting Office, Mumbai-1Published on 15th of every month • Posted on 15th & 16th of every month

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Enrolment Form

BCAS Study Circles 2017 –18Sr. No. Study Circle

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Tick your choice here

I Direct Tax Laws 472II Indirect Tax Laws 472III Company Law, Auditing & Accounting 472IV FEMA 472V Information Technology 472

VI Human Resource Development 472VII ITF 1,180VIII BCAS Suburban Study Circle 708IX International Economics Study Group 1,180X Students Study Circle 236

Sr. No. Study CircleFee (R)

Tick your choice here

* Above Fee is inclusive of 18% GST

Com

bine

d En

rolm

ent F

orm

SeminarFull Day Seminar on Allied Laws................................17. 11. 2017.......... Early Bird till 14th October 2017 Members R1,770 Non-Members R2,006 Fee after 14th October 2017 Members R2,006 Non-Members R2,242

Residential Leadership Retreat

16th Residential Leadership Retreat..........23.02.2018, 24.02.2018........ Members and Spouse (each) R6,000 Members registering individually R6,500 Non-Members R7,000

Conclave

Finserv Conclave.........................................................10.11.2017........... Members R4,425 Non-Members R5,015

Workshop

Data Analytics for Audit And Business Decision Making-Hands on Training Workshop...........22.12.2017 Members R2,655 Non-Members R2,950

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