Lecture Meetings Vice-President’s Communiqué · Venue: NCPA’s Tata Theatre, Nariman Point,...

BCAS Newsletter, December 2006 1

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President : Himanshu Kishnadwala, 26286909; Vice-President : Rajesh Kothari, 28089956; Hon. Secretaries : Naushad Panjwani : 22670876; Pradip Thanawala : 22694248; Hon. Treasurer : Mayur Nayak, 26831199

PROGRAMMES

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GLANCE

7, Jolly Bhavan No. 2, New Marine Lines, Mumbai-400020. Tel. Nos. : 66595601 to 05; Fax : 66595606 E-mail : [email protected]; Website : www.bcasonline.org

Vice-President’s Communiqué . . ✍

Day & Date : Monday, 15th January 2007

Time : 6.00 p.m.

Venue : NCPA’s Tata Theatre, Nariman Point,Mumbai-400021.

Speaker : N. R. Narayana Murthy

Subject : To be announced(Fourth Nani A. Palkhivala Memorial Trust Lectureorganised jointly by Forum of Free Enterprise and BCAS)

Day & Date : Wednesday, 17th January 2007*

Time : 6.15 p.m.

Speaker : Parind Mehta

Subject : Issues on MVAT Audit

Day & Date : Wednesday, 31st January 2007

Time : 6.15 p.m.

Speaker : Shri Haribhai Kothari (in Gujarati)

Subject : L$f rhQpf sp¡ `pd (Think to attain)(Under the auspices of Amita Memorial Trust)

*Fellowship over a cup of tea at 5.45 p.m.Lecture Meeting at 6.15 p.m.

Members are invited to send us in advance, issues pertaining toabove topics either by email ([email protected]) or physically atthe BCAS office.

Lecture MeetingsVenue : 4th floor, IMC, Churchgate, Mumbai-400020.

(unless otherwise specified)

Rajesh Kothari

Study Course on Double Taxation Avoidance Agreement ....... 21-12-2006 to 10-2-2007 ............................ Jai Hind College, ‘A’ Road, Churchgate, Mumbai. ......................................... 4Seminar on Direct Taxes ............................................................... 22-12-2006 ..................................................... The Grand Ashok, Highgrounds, Kumara Krupa Road, Bangalore-560001. 3PE II & Final C.A. Students’ Education Crash Courses .......... from 2-1-2007 ............................................... Sydenham College, ‘B’ Road, Churchgate, Mumbai. ....................................... 6Intenstive Study Course on Accounting Standards .................... Feb. 2007 : 2,3,9,10,16,17,23&24............................................................................................................ March 2007 : 9,10,16,17,23,24,30&31 ....... Indian Merchants’ Chamber ................................................................................. 2A workshop on Capital Markets for CA Students ..................... 27, 28-1-2007 & 3,4,10,11,17,18-2-2007 BCAS Conference room ..................................................................................... 12A Tryst with Nature ......................................................................... 4-2-2007 ......................................................... Bombay Natural History Society, Goregaon East, Mumbai-400065. ............ 7Sahyog Utsav ................................................................................... 10-2-2007 ....................................................... Navin Thakker Auditorium, Vile Parle (E), Mumbai ....................................... 8‘Excelling memory power and fast-reading Skills’ ...................... 10 & 11-2-2007 ............................................ St. Xavier’s College Campus, Opp. Metro Theatre, Mumbai-400002. ......... 7Residential Intensive Study Course on Service Tax ................. 6 to 8-4-2007 ............................................... Matheran ................................................................................................................. 3

�Harnessing Talent and Providing Quality Service December 2006Vol. 9 No. 9

Dear Member,

The Society is once again participating in the ‘Mumbai Marathon — 2007’.This time, the participating members will run for the cause of ‘Right toInformation’. This awareness drive will be useful in promoting transparencyand fostering professionalism in the country’s governance. I hope themembers will join the Marathon in large numbers for this cause.

Accounting, the language of business, is codified by the AccountingStandards. The Accounting Standards fortify the financial statements. Whiledischarging the attest function, it is our duty to ensure compliance withthese Standards. To enable members to learn the finer aspects of theAccounting Standards, the Society has designed an intensive study courseon Accounting Standards jointly with the IMC.

The Finance Ministry has started its annual exercise of formulating theUnion Budget, 2007. Everybody expects the ensuing budget to be rational,fair and taxpayer-friendly. Unfair and irrational tax provisions lead to non-compliance and promote corruption. The Budget should remove variousanomalies, amend the unfair provisions, adopt the theory of taxing realincome, reduce the number of appeals by simplifying the law, giveincentives with minimum conditions and introduce accountability in thesystem. The Society has submitted its Pre-budget Memorandum for theconsideration of the Finance Minister.

India’s growth story is visible with the rise in GDP of over 8% per annum.India is emerging as the most-preferred investment destination. India, withits young population will continue to achieve growth. But, infrastructuredevelopment and enhancing requisite skills will be the need of the hourto keep pace with the growth momentum. As Chartered Accountants, weneed to look beyond the traditional areas of practice and sharpen our skillsin new areas of professional interest, such as International AccountingStandards, valuation practices, international tax laws, and so on. BCASorganises programmes with this objective in mind.

My best wishes to you all, for the New Year 2007.

With kind regards

Await announcement/publication onFinance Bill, 2007

in next issue.

BCAS Newsletter, December 20062

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Dates : 24 sessions on Fridays and SaturdaysFebruary 2007 : 2, 3, 9, 10, 16, 17, 23 & 24March 2007 : 9, 10, 16, 17, 23, 24, 30 & 31

Venue : Indian Merchants’ Chamber

Time : Fridays, 6.00 p.m. to 8.30 p.m.Saturdays, 10.30 a.m. to 1.00 p.m.& 2.00 p.m. to 4.30 p.m.

Fees : Rs.8,000 (Inclusive of lunch on Saturday)

Enrolment is restricted to 75 participants on first-come-first-servedbasis. Enrolment fees are non-refundable.

Accounting & Auditing Committee ofBOMBAY CHARTEREDACCOUNTANTS’ SOCIETY7, Jolly Bhavan No. 2, Ground Floor,New Marine Lines, Mumbai-400020. IndiaTel. : 66595601/02/03/04/05Fax : 66595606E-mail : [email protected] us at www.bcasonline.org

INDIAN MERCHANTS’ CHAMBERIMC Building, Churchgate,Mumbai-400020.Tel. : 22046633Fax : 22048508E-mail : [email protected] us at www.imcnet.org

BCAS

Mindspeak Contributed by :Internet Source

Who is rich and who is poorOne day a man from a very wealthy family took his son on a tripto the country-side with the express purpose of showing him how poorpeople live.

They spent a couple of days and nights on a farm of what would beconsidered a very poor family.

On their return from the trip, the father asked his son,

How was the trip ?

It was great, Dad.

Did you see how poor people live ? the father asked.

Oh yeah, said the son.

So, tell me, what you learned from the trip ? asked the father.

The son answered :

I saw that we have one dog and they had four. We have a pool thatreaches to the middle of our garden and they have a creek that hasno end . . .

. . . We have imported lanterns in our garden and they have the starsat night.

Our patio reaches to the front yard and they have the whole horizon.We have a small piece of land to live on and they have fields thatgo beyond.

. . . We have servants who serve us, but they serve others. We buyour food, but they grow theirs. We have walls around our propertyto protect us; they have friends to protect them.

The boy’s father was speechless. Then his son added, Thanks Dadfor showing me how poor we are.

Isn’t perspective a wonderful thing ?

Makes you wonder what would happen if we all gave thanks foreverything we have, instead of worrying about what we don’t have.

Appreciate every single thing you have !

The best things in life are the nearest : Breath in your

nostrils, light in your eyes, flowers at your feet, duties

at your hand, the path of right just before you. Then

don’t grasp at the stars, but do life’s pain, common

work as it comes, certain that daily duties and daily

bread are the sweetest things in life. Enrolment form is printed on page 12.

Jointly organised by :

Accounting Standards play avery important role in thereporting of financial resultsof companies. AccountingStandards issued by ICAI(currently AS-1 to AS-29)require detailed understandingby accountants as well asauditors to ensure that thesame are properly followed

and implemented. There is also a constant need to keep abreast withthe revisions and interpretations in these Accounting Standards beingissued, to be able to disclose and present accurate financial resultsof an enterprise.

Looking at the importance of the subject, BCAS jointly with IndianMerchants’ Chamber (IMC) has organised an intensive Study Courseon Accounting Standards issued by ICAI and the other relateddevelopments at the international level at IASB [which issues IAS andInternational Financial Reporting Standards (IFRS)]. The Study Coursewould comprise 24 sessions where eminent faculty having expertisein implementation and application of these standards will enlighten theparticipants on their nuances as well as the corresponding IAS/IFRS.

Intensive Study Course onAccounting Standards


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� Chairman : Dilip LakhaniCo-Chairman : Govind GoyalConvenors : Raman Jokhakar

Anup ShahSunil Gabhawalla

Residential Intensive Study Course onService Tax

Dates : Friday, 6th April to Sunday, 8th April 2007Venue : Matheran

Over the years, service tax has become the ‘new milking cow’ for theCentral Government. The service tax law being at its nascent evolving(also revolving !) stage, several issues have arisen. In the years tocome this is going to be a major source of revenue for theGovernment and avenue for the tax professionals. In keeping withBCAS’s visionary approach, it has organised this residential IntensiveStudy Course exclusively on service tax — the first of its kind.

The course, unique in its design and pattern, would have 3 case studypapers dealing with current (some current and electric shocks wouldbe there !) issues and two presentation papers led by eminentspeakers.

A. Case study papers

1. Import and Export of services2. Valuation of taxable services3. CENVAT Credit Rules for service providers

B. Presentation papers

1. Impact of VAT on Service tax 2. [To be decided]

Basic knowledge of the service tax law would be a pre-requisite.Admission is restricted to first 100. Enrolment will commence after 15thJanuary 2007. Watch out for the January 2007 issue of the BCAJ.

Seminar on Direct Taxesat Bangalore on 22-12-2006

Bombay Chartered Accountants’ Society is pleased to announce aSeminar on Direct Taxes jointly with Karnataka State CharteredAccountants’ Association.

Venue: Banquet Hall, The Grand Ashok, High Grounds,Kumarakrupa Road, Bangalore-560001.

Time : 8.30 a.m. Registration Seminar : 9 a.m. to 6 p.m.

Fee : Rs.1,500 (inclusive of lunch and coffee).

Seminar on Direct Taxes — Trends and Controversies

Fringe Benefit Tax

Vis-à-vis Taxation of perquisites &allowances— Common Employee Benefits,

Direct Fringe Benefits &Deemed Fringe Benefits andIndustry-specific Provisions

— Jurisdiction and Cross-borderTransactions

— Case studies with specificreference to Restructuring ofEmployee Remuneration

Transfer Pricing

— TP Audit Experience v/sAssessment Trends

— Recent Judicial Decisions

— Industry-specific Issues —Manufacturing, Trading, Software& Infrastructure

— Documentation Requirements

Tax Deducted at Source

— Disallowance of Expenses —Provisions of S. 40(a)(ia)

— Principles of Double Jeopardy(Multiple injury, tax, interestand penalty)

— Compliance u/s.195, PE,Certification, etc.

— Practical Aspects and other issues

Intangible Assets

— Valuation and Accounting Aspects

— Taxation Controversies

Recent Judicial Controversies

— Accounting and Taxation

Shariq Contractor, C.A.Mumbai

K. R. Pradeep, C.A.Bangalore

Kishor Karia, C.A.Mumbai

Pradip Kapasi, C.A.Mumbai

Shankar A., C.A. &Advocate, Bangalore

Topics Speakers

BCAS Opinion PollCast your vote

and help us in mobilising the opinion of our members, so thatthe same can be conveyed in a strong voice to the authorities.

This month’s poll :Will an independent tax ombudsman providean effective grievance redressal mechanism

to the taxpayer ?

Yes No Can’t say

To cast your vote, log on towww.bcasonline.org

The result of the last poll is as under :Do you feel the tax rates for non-corporate

assessees should be reduced in theforthcoming budget ?

Yes : 80% No : 19% Can’t say : 1%Enrolment form is printed on page 12.


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Contributed byGaurang Gandhi

The Reserve Bank of India has issued the following 9 circulars :

A.P. (DIR Series) Circular No. 11, dated November 16, 2006

Investment by Mutual Funds in Overseas Securities —Liberalisation of

Presently, Mutual Funds registered with Securities & Exchange Boardof India (SEBI) are permitted to invest up to US $ 2 billion overseas.This Circular has increased this investment limit to US $ 3 billion withimmediate effect.


Facilities to NRIs/PIO and Foreign Nationals — Liberalisation

Presently, remittances out of balances in Non-Resident Ordinary (NRO)

accounts of a Non-Resident Indian (NRI)/Person of Indian Origin (PIO)pertaining to sale proceeds of immoveable property are subject to alock-in period of 10 years in certain cases. This Circular has dispensedwith this lock-in period of 10 years. As a result, remittances out ofbalances in NRO accounts, including sale proceeds of immoveableproperty, will be permitted without any lock-in period within the limitof US $ one million per financial year.

A.P. (DIR Series) Circular No. 13 dated November 17, 2006

Issue of Bank Guarantee on behalf of service importers

This Circular permits issue of guarantee by Category-I banks on behalfof their customers importing services, provided :

(a) The guarantee amount does not exceed US $ 100,000.

(b) The bank is satisfied about the bona fides of the transaction.

(c) The bank ensures submission of documentary evidence forimport of services in the normal course.

(d) The guarantee is to secure a direct contractual liability arisingout of a contract between a resident and a non-resident.


Foreign Exchange Management Act (FEMA), 1999 — CurrentAccount Transactions — Liberalisation

G.S.R. No. 412 (E) — Notification dated July 10, 2006

This Circular has deleted Item 16 of Schedule III to the ForeignExchange Management (Current Account Transactions) Rules, 2000pertaining to obtaining of prior approval of RBI for drawing of foreignexchange “for remittance for purchase of trademark or franchise inIndia”. As a result, drawing of foreign exchange for trademark orfranchise in India can be undertaken without obtaining approval fromRBI.


Exchange Earner’s Foreign Currency (EEFC) Account —Liberalisation of Procedure

This Circular has increased the amount of foreign exchange that canbe credited to the EEFC account of foreign exchange earners as pertable given below :

Entity or person who can open an EEFC Account Limit in %

1. Status-holder Exporter (as defined in the EXIM 100Policy in force)

2. Individual professionals 100

3. 100% EOU Unit/Units in EPZ/STP/EHTP 100

4. Any other person 50


Exim Bank’s Line of Credit of USD 10 million to the Governmentof Angola (Not reproduced here).

A.P. (DIR Series) Circular No. 17, dated December 4, 2006

External Commercial Borrowings (ECB)

Presently, corporates can avail ECB up to US $ 500 million duringa financial year under the automatic route. This Circular has liberalised

Chairman : Kishor KariaConvenors : Anil Sathe

Dhishat MehtaSushil Lakhani

Seventh Intensive Study Course onDouble Taxation Avoidance Agreement

We are pleased to announce the 7th Batch of the Study Course on‘Double Taxation Avoidance Agreement’ (DTAA) to be held fromDecember 21, 2006 to February 10, 2007. This is an intensive coursefor beginners and will be conducted in a classroom style. There willbe about 28 lectures in all, covering each article of DTAA and withspecial emphasis on features like force of attraction, most favourednation and triangular cases, including a test. The UN Model Conventionon DTAA will form the basis of the course. Faculty will comprise seniorprofessionals having expertise in the field of International Taxation.This may include (as in the past) the following persons, subject toconfirmation :

Dilip Thakkar, Geeta Jani, Hitesh Gajaria, Jayesh Karia, Keyur Shah,Kishor Karia, Mayur Desai, Mayur Nayak, Naresh Ajwani, PinakinDesai, Pranav Sayta, Rajiv Shah, Sharad Jain, Sushil Lakhani, T. P.Ostwal, Vispi Patel and Yogesh Thar.

Dates : 21st December 2006 to 10th February 2007

Time : Tuesdays & Thursdays — 6.00 p.m. to 8.00 p.m.Saturdays — 3.00 p.m. to 7.00 p.m.

Venue : Jai Hind College, ‘A’ Road, Churchgate, Mumbai.

Fee : Rs.4,520 per participant (including Rs.20 as contribution toBCAS Foundation)

Enrolment is restricted to 50 participants on first-come-first-servedbasis. Enrolment form is printed on page 12. Enrolment fees are non-refundable.

Course Co-ordinators : Mayur Desai, Chetan Shah and Shardul Shah


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� ECB guidelines further. As a result :

(a) Corporates can avail additional ECB up to US$ 250 million withaverage maturity of more than 10 years under the approvalroute. Prepayment, etc. of such ECB will not be permitted upto a period of 10 years.

(b) Prepayment of ECB up to US $ 300 million, as against thepresent limit of US $ 200 million, will be permitted without priorapproval of RBI.


Establishment of Office Abroad

This Circular has increased the limits for remittance of initial andrecurring expenses for the purpose of normal business operations offoreign branch/office/representative and also liberalised the provisionsfor acquisition of immoveable property by it, as under :

Initial Expenses — Remittance up to 15% of the last two financialyears’ average annual sales/income/turnover or up to 25% of networth, whichever is higher.

Recurring Expenses — Remittance up to 10% of the last two financialyears’ average annual sales/income/turnover.

Acquisition of Immoveable Property — A company incorporated inIndia and having overseas office, can acquire immoveable propertyoutside India for its business and for residential purpose of its staffout of funds remitted for initial and recurring expenses.


Exim Bank’s Line of Credit of USD 20 million to Myanmar ForeignTrade Bank (Not reproduced here).

BCAS Foundation conducts the Right to Information Clinic.

The Right to Information Clinic (RTI Clinic) is headed by Mrs.Hema Sampat, a research scholar on the subject of RTI. The Clinichas two RTI activists, Mr. Kewal Semlani and Mr. Shailesh Gandhi,as advisors. Mr. A. K. Asher, Advocate, also assists in the workingof the Clinic.

The Clinic provides help and guidance to BCAS members as alsoto non-members, i.e., all citizens, for making applications under theRTI Act and also assists in resolving any related difficulties on thesubject of RTI.

The Clinic will operate from BCAS office — 11 a.m. to 1 p.m.

The dates are Saturdays, 23rd Dec. 2006, 6th Jan. and 20thJan. 2007

Right to Information Clinic

Accounts & Audit Clinic

Panel of Advisors :

Sanjeev Pandit,Himanshu Kishnadwala and

Jayesh Gandhi

The next Charitable Trust Clinic will be held on Friday, 5thJanuary 2007, from 5 p.m. to 7 p.m. in the library roomof BCA Society at New Marine Lines.

Chartered Accountants and Trustees interested in having theirqueries solved are requested to call the Society’s office (Mrs.Mistry on extn. 20) and obtain a prior appointment, latest bynoon on the day of the Clinic. Querists are also advised tobring along relevant papers like trust deed, audited accounts,etc.

Panel of Advisors :

Ratanshaw Damanwala,Shariq Contractor,Gautam Nayak,

Anil Sathe and Atul Shah

The BCAS Clinics

The next Accounts & Audit Clinic will be held on Saturday,6th January 2007, from 10.30 a.m. to 11.30 a.m. in thelibrary room of BCA Society at New Marine Lines.

Persons interested in having their queries pertaining toaccounting and auditing issues solved are requested to sendtheir queries by email to [email protected] one week inadvance and call the Society’s office (Mr. Rajaram on extension13) to obtain a prior appointment, a day before the day of theClinic. Please note that the Society will not answer any queriespertaining to tax issues.

Charitable Trust Clinic

Recent additions to the BCAS Library

Title Author Edition

Comprehensive Handbook Noshir M. Lam 9th Editionon Non-Resident Taxation Mayur B. NayakFEMA T. K. Singhal

Sampath Iyengar’s Law of S. Rajaratnam 10th Ed.,Income Tax (Vol. 4) 2006

Salaries Shiavux Mistry 16th Ed.,2006-07

Deduction of Tax Dr. V. K. Singhania 2006 Ed.at Source

Employees — How to save Taxmann 16th Ed.,Income Tax 2006-07

Commercial’s Handbook on R. Santhanam 7th Ed.,Double Taxation Avoidance 2007Agreement (Vol. I & II)with CD


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� � � � �CUT HERE CUT HERE CUT HERECUT HERE

ENROLMENT FORM

Name : ..................................................................................................................................................................................................................................................

Registration Number : .........................................................................................................................................................................................................................

Course in which admission is desired : PE II ( ) FINAL ( ) (Please tick appropriately)

Residential Address : ..........................................................................................................................................................................................................................

............................................................................................................................ Tel. No. (R) : ....................................... E-mail : .............................................

Details of Articleship : Date of Joining ......................................................... Estimated date of Completion ..........................................................................

Name of the Principal : .....................................................................................................................................................................................................................

Name and address of Firm where articleship is being done : ..................................................................................................................................................

................................................................................................................................... Tel. No. (O) : ..................................... Fax No. (O) ..................................

Cash/Draft/Cheque No. ........................................................................................... drawn on ............................................................................................... Bank,

dated .......................................................................... for an amount of Rs.1000 is enclosed.

Date : ............................................................. Signature ................................................................................

Notes :

1. Please send the above form along with cash/cheque/draft drawn in favour of ‘‘BOMBAY CHARTERED ACCOUNTANTS’ SOCIETY’’, to the Society’soffice, at the address mentioned above.

2. We propose to have multifarious activities like Elocution Competition, Public Speaking, Self-Development Education Courses, Orientation Courses,etc. for interested Students.

3. Members are requested to keep the proforma of this sheet and send the same duly filled in by a new articled trainee after his/herenrolment in their office.

Human Resources Committee

Chairman : Rajesh Muni Convenors : Hiten Shah, Aliasgar Kherodawala,Manish Sampat

“We had joined the Revision Course, which has proved very much helpful to us. We cleared both groups in First Attempt”.— Miss Janhavi Thatte & Miss Komal Jain

PE II & FINAL C.A. STUDENTS’ EDUCATION CRASH COURSES

(Jointly with W.I.R.C. of I.C.A.I.)For May & November 2007 Examinations

1. Courses for :C.A. PE II C.A. FinalGroup-I — Accounting Group-I — Advanced Accounting & Financial Management

— Auditing Group-II — Direct Taxes— Business & Corporate Laws — Indirect Taxes

Group-II — Income Tax & C.S.T. — Cost Management— Cost Accounting & F.M.

(In addition, important topics in (In addition, important topics inIT may be covered at no extra cost.) MICS may be covered at no extra cost.)

2. Course Co-ordinators : Chandrakant Ruparelia, B. M. Agarwal, Yatin Vyavaharkar

3. Fees : Rs.1000 per student for P.E.II or Final (Total, and not per Subject, including cost of Study Materials)

4. Timings & Venue : 6.15 p.m. to 8.30 p.m. on weekdays at Sydenham College, ‘B’ Road, Churchgate.

5. Duration : 3 months from January 2, 2007

6. Enrolment from : November 15, 2006

7. Faculty : Eminent personalities possessing rich experience in their respective fields.

For further informaion, kindly contact Col. Raje/C. Ruparelia on Phone 66595601 to 05 during office hours at BOMBAY CHARTEREDACCOUNTANTS’ SOCIETY.


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‘Excelling Memory Powerand Fast-Reading Skills’

Learn once and remember forever !

Is it achievable ?

“Yes”, says Minoo Jokhi, “Memory is a skill, if managed proficientlyyou can build it up to withstand the brisk pace of Life.”

The importance of building memory and fast-reading technique canhardly be over emphasised. In the swiftly changing environment, whereinformation flow is tremendous, a common man struggles to retain andrecall. Professionals require this technique more than anyone else.Keeping this in view, BCAS has organised a unique two-day workshopon ‘Excelling memory power and fast-reading skills’ which would focuson :

➠ Introduction to Memory Development

➠ Laws and keys to a perfect Memory

➠ Link System and Association Techniques

➠ Effective Reading Skills (Special Emphasis and Exercises)

➠ Yoga and Meditation Techniques for a perfect Memory

➠ Calculation Skills : Many fast Calculations

➠ Skills will be taught which include Squares, Tables, Additions andMultiplications

➠ 18 steps to a permanent Memory

➠ Concentration Techniques to face Absent-mindedness

➠ Fast-Reading Skills for an excellent Memory

Minoo Jokhi is a soft-skill trainer with about 500 such programmesto his credit. He is a Mathemagician, who has performed shows inIndia, Sri Lanka, Spain and America. He has been conducting memorydevelopment and other training programmes.

This workshop is repeated on popular demand. All those who arewill ing to grow by acquiring fast-reading skills and memorydevelopment are welcome to join the workshop.

The details are as under :

Day & date : Saturday & Sunday, 10th & 11th February 2007

Time : 9.30 a.m. to 5.30 p.m.

Venue : St. Xavier’s Institute of Management, St. Xavier’sCollege Campus, Mahapalika Marg, opposite MetroTheatre, Mumbai-400002.

Fees : Rs.1020 (including course material, if any, lunch, tea,and contribution of Rs.20 towards BCAS Foundation)

Enrolment form is printed on page 12.

A Tryst with NatureThe Human Resources Committee is pleased to invite you to unwindyourself and soak in the natural beauty of a forest.

Yes, after a gap of several years, we are back with the wonderfulNature Walk.

Right in the middle of the concrete jungle of Mumbai and in thepristine environment of the Sanjay Gandhi National Park and very nearthe glamorous Film City, lies a huge patch of forest which very fewof us are aware of.

The Bombay Natural History Society which is doing a great job ofenvironment protection and preservation has a Conservation EducationCentre right in the middle of this forest.

We invite you to join us for a walk in this beautiful forest.

However, we must caution you — this walk is only for those who areserious about relaxing and about leaving their worries behind at homesand offices.

No cell phones will work in the forest and you will not hear theconstant honking of car horns there. Only the chirping of birds thatyou may have never seen before. And yes, lots of trees and plantswith lovely flowers and leaves.

Interested ? Then do fill in the form and get ready for a greatexperience. Oh yes, we forgot to mention — your family members aremost welcome to join us. Children will have a whale of a time. Thereare special activities earmarked for kids and we ensure lots of funand frolic for them.

The details of the Nature Walk are as under :

Day & Date : Sunday, 4th February, 2007

Time : 7.45 a.m. to 2 p.m.

Venue : Conservation Education Centre, Bombay NaturalHistory Society, Near Film City, Goregaon East,Mumbai-400065.

Contribution : Rs.250 per head for adults and Rs.200 per child upto 12 years of age (this would include breakfast andlunch and entrance fees for the ConservationEducation Centre and contribution of Rs.20 to BCASFoundation).

Transport arrangements : All the participants have to make their ownarrangements up to the main gate of the Film City. From thereonwards, in case you do not have your own vehicle, we will providefor the transport into the forest.

A circular would be sent to the participants separately at a later dategiving further details. In case you need any clarifications, you maycontact the co-ordinator Ameet Patel on tel. : 9820054854.

Enrolment form is printed on page 12.

Chairman : Rajesh MuniConvenors : Hiten Shah

Manish SampatAliasgar Kherodawala


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� Let’s celebrate !

short-list the final list of performers for the D-day (We don’tpromise, but we will certainly try to get judges whocompare in glamour quotient to the judges on ‘Nach Baliye’and ‘Jhalak Dikhala Ja’ !). Decision of the judges shall befinal.

Interested ? Then stop uploading the e-return that you arestruggling with for a few minutes, and take time off to fillin the form (the one printed on next page — not an e-form !) and send it to any of the 5 Associations that arepromoting this event, on or before 23rd December 2006.

Feeling shy to participate ? Don’t worry ! Members and theirfamily members who want to have fun not by performingbut by witnessing the unscreened talents and cheering thenear-and-dear ones, can collect their passes well inadvance from the office of any of the 5 Associations onor after 15th January 2007 but before 7th February 2007.

No worries for Dinner Arrangement. Special arrangementsfor contributory Dinner have been made at the venue.Passes for the same priced at Rs.125 can be collectedfrom any of the 5 Associations on or after 15th January2007 but before 7th February 2007.

We have also planned to bring out a unique souvenir whichwould, apart from advertisements, also contain severalpages of useful information and details. Members who wantto extend their ‘sahyog’ by collecting or givingadvertisements can fill up the form printed on next page,and send it to us before 23rd December 2006.

Oh, wondering about the venue and time ? Here it is !

Venue : Navin Thakker Auditorium, Vile Parle (E)(within walkable distance fromthe Vile Parle Railway station)

Timing : Programme 06.00 p.m. to 10.00 p.m.Dinner 10.00 p.m. to 11.00 p.m.

Day & date : Saturday, 10th February, 2007.

P.S. : Just so that you do not manage to find excuses for not attendingdue to workload, we have organised this Utsav on a Saturday evening.So, no meetings, no clients, no nothing — simply come !

The month of February bringswith it a slight chill in the air andthe best climate for us profes-sionals to relax (of course, thereare some of us who arecompletely saturated with theirworkload, who might very wellask, “what does ‘relax’ mean ?”).

By end January, all MVAT Auditand Scrutinies would have ended; all e-returns would havebeen uploaded (hopefully !) and all FBT payments made.You would therefore be wondering what to do.

AIFTP (WZ), BCAS, CTC, STPAM and WIRC of ICAI havefound the solution to this question ! Yes, we are back with‘Sahyog Utsav’.

10th February, 2007 is the day that you need to mark inyour diary. Let us all meet on this day with our familiesand let our hair down and enjoy. Forget your worries, forgettax, forget audits, forget the scrutinies and “just chill”.

Those who have attended Sahyog Utsav in the past wouldknow that this Utsav offers an excellent opportunity to ourmembers and their family members to showcase theirrespective talents and, in the process, also have fun.Sahyog as the name suggests also gives us an opportunityto strengthen the bonds of fellowship and togetherness.Members and their family members who desire to have funby performing at Sahyog are invited to forward theirapplications in the form printed on next page.

For simplicity, the following broad categories have beendrawn up for submitting your applications :

➠ Dance : Solo and/or Group

➠ Singing : Solo and/or Group

➠ Instrumental music

➠ Mimicry

➠ Other items (Please specify)

On receipt of the applications for participation, thescreening committee will conduct an audition/screening and


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Form for advertisement in souvenir

We are pleased to release an advertisement in souvenir to be released at Sahyog Utsav at Mumbai on 10th February,2007.

Please book the following advertisement (Tick whichever is applicable)

� 2nd & 3rd Cover Page ................. Rs. 8,000 Souvenir Trim Size ................ : 8.25” X 10.75”

� Back Cover Page ........................... Rs.10,000 Bleed Advertisement .............. : 8.50” X 11”

� Full Page ......................................... Rs. 5,000 Non-Bleed Advertisement ...... : 7.75” X 10.25”

� Half Page ........................................ Rs. 3,000 Half Page Advertisement ....... : 7.75” X 5”

� Quarter Page .................................. Rs. 1,500 Quarter Page Advertisement . : 7.75” X 2.5”

Please find enclosed herewith a cheque/DD for Rs. ................................... vide No. ............................. dated ......................

drawn on Bank ............................................................................................................................ Material for advertisement issent herewith.

Yours faithfully,

Signature Designation

Company Name ...................................................................................................................................................................................

Address .................................................................................................................................................................................................

...............................................................................................................................................................................................................

Tel. No. ................................... Fax : ...................................... E-mail : ............................................

Payment by A/C Payee Cheque/DD may please be drawn in favour of‘All India Federation of Tax Practitioners — West Zone’ payable at Mumbai. Outstation payment by DD only.

Application for participation

Yes, I want to have fun and enjoy myself, and I therefore desire to take part in the following :

Dance : Solo and/or group � Mimicry �

Singing : Solo and/or group � Instrumental music �

Others (Please specify)

at the forthcoming cultural programme : ‘SAHYOG UTSAV’.

My details are as under :

Name .....................................................................................................................................................................................................

Address .................................................................................................................................................................................................

...............................................................................................................................................................................................................

Telephone Nos. (O) ............................. (R) ................................ E-mail .......................................... Mobile ...............................

Signature

✁ ✁ ✁ ✁ ✁ ✁CUT HERE CUT HERE CUT HERE CUT HERE CUT HERE


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FULL PAGE ADVT.

PROFESSIONAL ACCOUNTANT

Completed Graduation and Worked as an Accounts Assistantor Completed Article Training

COURSE JUST FOR YOUbecome a PROFESSIONAL ACCOUNTANT

?WHAT NEXT

Certificate Course for

Profess onaliACCOUNTANT

Batch III


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Edited, printed & published by Narayan Varma on behalf of Bombay Chartered Accountants’ Society, Mumbai-400020. Printed at Vijay Mudran, Mumbai-400031.

Combined Enrolment Form

Please fill in the above form appropriately and send the same to the Society’s office along with the requisite payment.Please mention your name and membership number on the reverse side of the local cheque/at par cheque/Demand Draft.

Name : ...................................................................................................................................................................................................................................................................

Address : ...............................................................................................................................................................................................................................................................

E-mail : ................................................ Mobile : .......................................................... Tel. : ........................................................ Fax : ........................................................

BCAS Memb. No. : ........................... Tel. (O) : ........................................................ Tel. (R) : ................................................. Fax : ........................................................

Student’s Regn. No. with ICAI : .......................................................................................................................................................................................................................

Name and address of Principal : .....................................................................................................................................................................................................................

Cash / Draft / Cheque No. .................................. drawn on ..................................................................................................................................................................... Bank,

dated .................................... for an amount of Rs. ............................................................................... is enclosed.

Date : ............................... (Signature)

� wherever applicable

✁ ✁ ✁ ✁ ✁ ✁ ✁ ✁CUT HERE CUT HERE CUT HERE CUT HERE CUT HERE CUT HERE CUT HERE

WORKSHOP :

Excelling memory power and fast-reading Skills 10th & 11-2-2007 Rs.1020 ...........

A workshop on Capital Markets 27,28-1-2007for CA Students 3,4,10,11,17,18-2-2007 Rs.420 ...........

A Tryst with Nature 4-2-2007 Rs.250 per adultRs.200 per child

Registered with the Registrar of Newspapers for India under R.N. 68365/98 Regd. No. MH/MR/South-88/2006-08Licensed to post without prepayment : Licence no. South-12/2006-08. Posted at Mumbai Patrika Channel Sorting Office, Mumbai-1.

SEMINAR :

Seminar on Direct Taxes 22-12-2006 Rs.1,500 ...............................

STUDY COURSE :

Seventh Intensive Study Course onDouble Taxation Avoidance Agreement 21-12-2006 to 10-2-2007 Rs.4,520 ............

BCAS Publications for saleName of Publication Price Postage

Rs. Rs.

Harmful Tax Competition— An Emerging Global Issue 100 25

5 Years’ Journals — CDFor Members 200 20For Non-Members 300 20

CD on the discussions conducted at the39th RRC by various paper writers 100 20

Fraud Detection— A Practical Approach for Auditors 300 75

Reporting under CARO 2003A Compilation — Revised and Updated 150 35

Service TaxBasic Concepts and Procedures 35 20Goods Transport Agency Services 25 20Business Auxiliary Services 25 20Construction-Related Services 40 20Import and Export of Services 35 20

Full set of Service Tax Booklets (all 5 books) 150 70

Transactions In Shares & Securities 200 50

Mandatory Accounting StandardsFrom Published Accounts 200 50

ITF Conference Papers, 2006 450 50

BCAS Post-it Pads (Pack of 50) 50 20

Fringe Benefit Tax — An Analysis. Members 250 75Non-Members 300 75

A workshop onCapital Markets for CA Students

Areas to be Introduction and composition of capital markets,covered Trading, DEMAT, BOLT and related concepts,

Fundamental Analysis, Technical Analysis,Derivatives, Commodities Trading and importantconcepts like Securitisation, Risk Management,Financial Instruments, etc.

Venue BCAS Conference room

Period 27, 28 January, & 3,4,10,11,17,18 February, 2007

Time Saturdays : 2.30 p.m. — 5.00 p.m.Sundays : 10.00 a.m. — 12.30 p.m.

Faculty Eminent speakers from the profession and theIndustry

Fees Rs.420 (Inclusive of contribution to BCASFoundation Rs.20)

The seats are limited and 50 students would be accommodated onfirst-come-first-served basis. Enrolment form is printed below.

Make sure to provide your email ids at the time of enrolment to enableus to intimate you the schedule of topics and the literature on thesubjects provided by the speakers prior to the lectures to help youprepare for the subjects in advance.

Chairman : Rajesh MuniConvenors : Hiten Shah

Manish SampatAliasgar Kherodawala

Intensive Study Course on Accounting Standards February 2007 : 2, 3, 9, 10, 16, 17, 23 & 24; March 2007 : 9, 10, 16, 17, 23, 24, 30 & 31 Rs.8,000 ...

Lecture Meetings Vice-President’s Communiqué · Venue: NCPA’s Tata Theatre, Nariman Point,...

Documents

Transcript of Lecture Meetings Vice-President’s Communiqué · Venue: NCPA’s Tata Theatre, Nariman Point,...