10 bcasnewsletteraccounting and auditing issues solved, are requested to send the queries by e-mail...

BCAS Newsletter I September 2011 1

Vice-President’s Communiqué

Harnessing Talent and Providing Quality Service

Vol. 14 n No. 6 n September 2011

n A Monthly Newsletter of the Bombay Chartered Accountants’ Society

For Members only. For Private Circulation only. Price: ` 10

BCASNewsletterDear Member,

All of you must have celebrated the festivals in August with vigour and must be now busy with the sterner test of completing the Tax Audit before the 30th of September. Further, the ambiguity regarding the due date for completing the tax audit of transfer pricing cases is cleared—it remains as 30th September, inspite of the due date for filing tax returns being 30th of November.

I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts — Abraham Lincoln

Last month, we witnessed the excitement around the Lokpal movement— an agitation where we saw thousands of citizens, including the youth, taking to the streets for a better tomorrow. As a result, the Parliament has passed in principle, a resolution to consider the various versions of the Lokpal Bill.

This raises various questions: Is this Anna’s victory? Will the Lokpal be able to eliminate corruption from public life? What about the corruption that a ordinary citizen has to face in his daily life?

However, the biggest question in everybody’s mind is: What next? Even at BCAS this question was bothering the core committee. We organised a public meeting, ‘Crusade against Corruption.... Way forward’, on 8th September, 2011 at K C College auditorium. This meeting was conducted in collaboration with other sister organisations and NGOs to take the debate forward. Eminent personalities such as Padma Bhushan Julio Rebeiro, Hon’ble Justice (Retd.) V C Daga, Padma Shri Sucheta Dalal and Mayank Gandhi spoke and presented their thoughts on the

7, Jolly Bhavan No. 2, New Marine Lines, Mumbai-400020. Tel. Nos. : 61377600; fax: 61377666 Email : [email protected]; Website : www.bcasonline.org

PROGRAMMES AT A GLANCE

President: Pradip Thanawala , 98200 45632;[email protected]

Vice-President: Deepak Shah , 98201 48536; [email protected]

Hon. Jt. Secretaries: Nitin Shingala , 98200 57694; [email protected] Chetan Shah , 98202 23402; [email protected]

Hon. Treasurer: Raman Jokhakar, 98208 77976, [email protected]

Study Group on International Economics ...................................... 4-10-2011....................... Gulmohar Hall, BCAS .......................................................................................... 3

Workshop on Filing of Service Tax Returns .................................... 7-10-2011....................... Gulmohar Hall, BCAS .......................................................................................... 7

Integrated Security Management- Practice Approach ..................... 8-10-2011....................... Gulmohar Hall, BCAS ........................................................................................... 3

Half-day Seminar on 'Authority of Advance

Rulings – Law & Procedure' ........................................................ 11-11-2011..................... Indian Merchants' Chamber, Churchgate, Mumbai ............................................... 7

45th Residential Refresher Course ................................................ 5-01-2012..................... Ramoji Film City, Hyderabad ............................................................................... 4

Lecture Meetings ........................................................................... 11-10-2011, 19-10-2011 Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai - 400020 ......... 1

& 16-11-2011

Lecture MeetingVenue I Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai - 400020Day, Date & Time I Tuesday, 11th October, 2011, 6.15 p.m.*Speaker I Rakesh Alshi, Director, Transfer Pricing, Deloitte Haskins & Sells Subject I Practical Issues – Transfer Pricing DocumentationandCertification

Venue I Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai - 400020Day, Date & Time I Wednesday, 19th October, 2011, 6.15 p.m.*Speaker I Shantanu Gawde, India’s Youngest Ethical Hacker Subject I Ethical Hacking

Venue I Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai - 400020Day, Date & Time I Wednesday, 16th November, 2011, 6.15 p.m.*Speaker I CA. Sunil Gabhawalla Subject I Service Tax Amendments – Point of Taxation & CENVAT Credit (This is the lecture meeting which was earlier scheduled on 29th August, 2011 and postponed due to heavy rains)* Fellowship over a cup of tea at 5.45 p.m.

(Continued on page 2)

BCAS Newsletter I September 20112

Right to Information ClinicBCAS Foundation operates a Right to Information (RTI) Clinic on regular basis. RTI Clinic is operated by Mrs. Hema Sampat, a research scholar on the subject of RTI, Mr. A. K. Asher, Adv. & RTI activist and CA. Narayan Varma, Past President, BCAS.

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 every 2nd, 3rd and 4th Saturday from BCAS office – 11 a.m. to 1 p.m.

The next RTI Clinic days accordingly are 24th September 2011 and 8th, 15th and 22nd October 2011. Please call the Society’s office (Ms. Shernaaz: 61377600) to obtain a prior appointment.

Charitable Trust ClinicThe next Charitable Trust Clinic will be held on Friday, 7th October 2011 from 5 p.m. to 7 p.m. in the library room of BCA Society at New Marine Lines.

Chartered Accountants and Trustees interested in having their queries solved are requested to call the Society’s office (Mrs. Mistry: 61377620) and 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.

Panel of Advisors:CA. Ratanshaw DamanwalaCA. Shariq ContractorCA. Gautam NayakCA. Anil Sathe CA. Atul Shah

Accounts & Audit ClinicThe next Accounts & Audit Clinic will be held on Saturday, 1st October 2011 from 10.30 a.m. to 11.30 a.m. in the library room of BCA Society at New Marine Lines.

Persons interested in having their queries pertaining to accounting and auditing issues solved, are requested to send the queries by e-mail to [email protected] one week in advance and call the Society’s office (Mr. Rajaram: 61377613) 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.

Panel of Advisors:CA. Sanjeev PanditCA. Himanshu Kishnadwala CA. Jayesh Gandhi

BCAS Member ID Card is available for collection, for all members who have submitted their photos and received intimation to collect Member ID Card, from the BCAS Office during office hours.

Members are requested to please come in person or send an Authority Letter with their representative for collection of card. Upcountry members, who cannot collect their card in person or send their representative, can send by post an Authority Letter to the BCAS office, against which Membership card will be posted.

BCAS Member ID Card

subject and broadly defined the approach to be taken, especially by us professionals.

BCAS is planning to call a meeting of various NGOs, to decide the way forward and role to be played by all, to ensure that this euphoria of victory of Anna Hazare’s movement doesn’t fizzle out. Our role as a professional would be to take initiative, to make the process of law making more effective and participatory, and suggest some way of institutionalising civil society to participate in policy formulation, so that there may not be any need for people to come on the streets.

I am, however, an eternal optimist, and as Anne Lamott said: Hope begins in the dark, the stubborn hope that if you just show up and try to do the right thing, the dawn will come. You wait and watch and work: You don't give up.

So, let’s play our part in reducing corruption, to see an India free of corruption.

The most awaited event i.e. the 45th Residential Refresher Course (RRC) of BCAS will be held at Hyderabad’s Ramoji Film City, from 5th January, 2012 to 8th January 2012. The detailed announcement is appearing elsewhere in this Newsletter. Kindly register in time as there is a restriction on number of participants to be enrolled.

With warm regards

Yours truly,

CA. Deepak R. Shah

(Continued from page 1)

To avoid cancellation of BCAS Membership kindly renew your membership before 30th September, 2011. If you wish to renew your membership after 30th September, 2011 then you will have to pay the specified entrance fees again.

Renewal of Membership for 2011-12


This seminar is for you…. if you are dynamic, looking for new and interesting areas of professional practice, are willing to invest your time in unlearning, learning and relearning and consider technology as an enabler and an integral part of your practice.

Jointly with Secure Matrix, a Mumbai headquartered organisation that specialises in Information Security and several allied subjects, the BCAS proudly presents the 'ice-breaker' workshop for exploring a challenging and rewarding new practice area. The journey begins with a Half-Day Workshop on Saturday 8th October, 2011 on the topic:

Integrated Security Management - Practice ApproachThe Indian IT industry and its relative users have matured over the years, the Government of India in conjunction have brought in the Indian IT and Cyber Act 2008 and there have been continuous updations from time to time.

With the advent of technology and Internet proliferation, the IT ACT 2008 has been amended vide notification dated 27th April, 2011 and we now have the IT Act 2011 which is comprehensive and stringent. The Act defines that all users of computer come under the ambit of the Act and any misuse / unlawful usage as determined in this Act can have huge detrimental effect resulting in cognizable offences where the punishment can be upto life imprisonment and a fine upto `5 cr. It is learnt that 80% of the offences covered in the IT Act are cognizable in nature for individuals/organization in terms of civil and criminal proceedings combined with huge penalties. The Act has been in place for quite some time, but many organizations have not geared up to ensure proper compliance of the law, therefore it is extremely important that people understand how this Act works and what are the responsibilities of individuals/organizations.

Some of the topics that will be discussed at the workshop are:

Overview of the Information Technology Act 2011 and details for Wi-Fi Compliance.

Speaker: Dr Harrold Dcosta

This session will cover:• CriminalAct• Phishing/Spam• Sendingmaliciousmails• Data/IPRTheft• Threatemails• UtilizationofWi-Fi,day-to-daysecuritymanagement• IT Compliance and non-compliance consequences at individual

levels and corporate levels• ApproachtocaseFIRintermsofnon-compliance,penalprovisions• Adjudicationprocessincourtoflawetc.• TrainingandCertificationApproach• CaseStudies• Wi–FiManagement

Consulting for Vulnerability Assessment Speaker: Mr. Saurabh Dani

This session will cover:• VulnerabilityAssessmentapproach.• VulnerabilityAssessmentCertification.• UnderstandingandImpactAnalysis• ImplementationoftheGaps.• PostImplementation-CertificationApproach

The participants will get an overview of the IT Act and understanding of the vulnerability of IT platforms/systems used by organizations. This workshop, based on assessment of interest of the participants, will be followed by a series of other workshops on related areas to assist the participants in developing the skill sets for venturing into a new practice area – Consulting for Compliance with the IT Act and for conducting review of the IT security for their clients. For future programmes that the Infotech & 4i Committee organises as a part of this series, preference will be given to those who attend this very first workshop. Loyalty always pays!

Workshop details:Day and Date : Saturday, 8th October 2011Time : 9.30 a.m. to 1.45 p.m.Venue : Gulmohar Hall, Bombay Chartered Accountants’ Society, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai – 400020.Investment : `750 for members; `1,000 for non-members. (includes cost of tea and snacks and contribution of `30 to BCAS Foundation)

Enrolment form is printed on page 12.

Infotech & 4i CommitteeChairman : CA. Ameet Patel Convenors : CA. Nandita Parekh CA. Nikunj Shah

Are you ready for a new practice area?

Study Group on International EconomicsWith globalisation of Indian economy, events occurring on international front are directly impacting Indian economy and businesses. In order to keep track of major developments in the world economy and to study their implications, the Committee has started a “Study Group on International Economics”, wherein current developments and issues in international economics are discussed and debated.

The fees for the study group is `1000

Details of the next meeting is as follows:

Day and Date : Tuesday, 4th October 2011Time : 6.00 p.m. to 8.00 p.m.Venue : Gulmohar Hall, BCASSubject : FuturologyGroup Leader : CA. Rashmin Sanghvi

All members are welcome to join this group. The group will function on self-sufficient basis. Enrolment form is printed on page 12.

International Taxation CommitteeChairman : CA. Kishor Karia Co-Chairman : CA. Rajesh Kothari Convenors : CA. Surin Kapadia CA. Dhishat Mehta CA. Gaurang Gandhi

Group Co-ordinators : CA. KK JhunJhunwala, CA. Chirag Vajani


Seminar Committee Chairman : CA. Uday Sathaye Convenors : CA. Krishna Kumar Jhunjhunwala CA. Rajeev Shah

The Seminar Committee is pleased to announce the 45th Residential Refresher Course (RRC) at Ramoji Film City, Hyderabad from 5th January 2012 to 8th January 2012.

All participants will be accommodated in Hotel Sitara on a twin sharing basis. Participants are requested to fill the enrolment form giving choice of their room partner so as to enable the Committee to allocate the partner of their choice.

Kindly note that the decision of the Committee will be final in case of allotment of rooms & room partners.

Fees:Fees payable per person (without travel facility) including course material, stay, all meals, and `50 contribution to the BCAS Foundation are`12,000 per participant on twin sharing basis

Fees payable per person for participants from Hyderabad or Secunderabad (local participants) on non- residential basis including course material, dinner on 5th January 2012, lunch on 6th, 7th & 8th January 2012 and conference facilities would be `4,500

Travel arrangement:BCAS would make travel arrangement from Mumbai to Hyderabad and back by train. Those delegates who would like to opt for travel facility should mention clearly in enrolment form by making additional payment of `1,500 or `2,700 per person (As per Enrolment Form)

Eligibility:The RRC is open only for ordinary and life members of BCAS and not for Journal subscribers and website members of BCAS.

Delegate Substitution:In the event of inability of the registered delegate to attend the RRC for any reason, he/she should promptly inform the Committee by email ([email protected]) indicating the “subject” as “45th RRC – INABILITY TO ATTEND” with a copy marked to [email protected], [email protected], [email protected]. At its discretion, BCAS may permit substitution. The substitute too needs to be a member of BCAS.The Committee reserves the right not to admit any substituted person to the conference in the event a delegate substitutes him/her in his/her place without the prior written consent of the Committee.

Refund:Once enrolled, requests for the refunds will not be entertained.

Notes:1. The RRC will begin on 5th January 2012 and will conclude on 8th January 2012 after lunch. Delegates can check-in at the hotel from 11.30 a.m.

onwards on 5th January 2012.2. Enrolment will commence from 21st September 2011 at 10.30 a.m. and will be restricted to first 200 members only on first-come-first-served

basis. Out of which 80 seats are reserved for outstation delegates (other than local limits of Mumbai). In addition maximum 25 delegates from Hyderabad and Secunderabad will be accommodated.

3. Members enrolling after 1st October 2011 will have to make their own travel arrangements.

Details of Papers :

Subjects Paper Writers

1 Case Studies in Taxation T. S. Ajai, Chartered Accountant, Hyderabad Paper for Discussion

2 Business Structuring/ Restructuring – Some Important Issues

Dr. Pravin P. Shah, Chartered Accountant, Mumbai Paper for Discussion

3 Important Aspects of CENVAT Credit & POT Rules

S. Thirumalai, Chartered Accountant, Hyderabad Paper for Discussion

4 Case Studies in Accounting and Auditing Himanshu V. Kishnadwala, Chartered Accountant, Mumbai Paper for Discussion

5 Code of Ethics – Practical Issues Chandrashekhar N. Vaze, Chartered Accountant, Mumbai Paper for Presentation

6 TDS – Some Important Issues Yogesh A. Thar, Chartered Accountant, Mumbai Paper for Presentation

45th Residential Refresher Course 5th to 8th January 2012

CUT HERE CUT HERE CUT HERE


ENROLMENT FORM

45th RRC of BCAS at Hyderabad5th to 8th January 2012

Name: ………………………………………………….........................................BCAS Membership No.: …………………………………….........................

Address: ………………………………………………………..........................................................................................................……………….........…….

……………………………………………………..........................................................................................................……….............…………….........……

Age : …………………….....................……… Tel. Office: ………..................……………………… Tel. Residence : ……..................................…..………

Mobile : .......................................................................... Email : .......................................................................................................................................

Kindly the box in front of the desired option:

Without transport: `12,000 Local Participant `4,500

With transport by train: (Ordinary Sleeper Class) `13,500

With transport by train: (3 Tier AC Sleeper) `14,700

Cost per person is inclusive of cost of course material, stay, food, and Railway Transport from Mumbai to Hyderabad and back for those who have

opted for transport facility from BCAS

Kindly state your preference: (Other than local participants)

Room Partner: .........................................................................................................

Meal: Jain………............................... Veg………...........................…… Non Veg ……........................…………

I would like to act as – Group Leader for paper (1) ........................................................................ (2).............................................................................

(3).......................................................................... (4)............................................................................

The decision of the Committee will be final in case of allotment of room hotel & room partner(s).

Enrolmentformswillbeacceptedfrom21stSeptember2011onwardsatBCASofficefrom10.30a.m.200memberswillbeenrolledon

first-come-first-servedbasisoutofwhich80memberswillbeenrolledfromplacesotherthanlocallimitsofMumbai.Inadditionmaximum

25 delegates from Hyderabad and Secunderabad will be accommodated.

Kindly note that no refund will be given in case of cancellation for any reason.

Enclosed Cheque No. ............................................................ drawn on ............................................................... Bank Dated.......................................

for ` ................................ (Rupees ...........................................................................................) Note: Outstation Members to pay only by

DD/PO/At par cheque payable at Mumbai, drawn in favour of “Bombay Chartered Accountants’ Society”.

Signature of Member

FOR OFFICE USE ONLY

Received Cheque No. .................................................. drawn on ............................................................................... Bank Dated...............................

for ` ...................................... (Rupees .............................................................................................................................)

from Mr./Ms. .............................................................................................................................................. towards his/her registration for the 45th RRC

Room Partner (1) ...............................................................................................Meal: Jain….........……… Veg……..............……Non Veg….............…..

For more details, contact : Uday Sathaye (9821211211), Rajeev Shah (9820000225), Krishna Kumar Jhunjhunwala (9820158008)



Bombay Chartered Accountants' Society

InfoTech & 4i Committee&

Membership & Public Relations Committee present

BCAS Web TV

“How to Conduct a Tax Audit” a half-day workshop held by BCAS on 27th August 2011 is available on BCAS Web TV

Other videos on the BCAS Web TV are:Lecture Meeting on Taxation of Shares and Securities – Current Developments by CA. Pradip Kapasi

Lecture Meeting on Taxation of Cross Border Transactions – Recent Trend in India by CA. Pinakin Desai

Lecture Meeting on Overview of XBRL by CA. Atul Bheda

* Free VideoLecture Meeting on Filing of Income-tax returns for A. Y. 2011- 12 by CA. Mukesh Trivedi and CA. Vipul Gandhi

Lecture Meeting on Recent Amendments in Schedule VI of the Companies Act, 1956 by C.A. P. R. Ramesh

Lecture meeting on Direct Tax Provisions of the Finance Bill, 2011 by Senior Advocate Mr. S. E. Dastur

Lecture meeting on Electronic Tax Payments and Quarterly TDS Returns – recent updates and issues by Delnaz Mistry

* Free VideoTalk on How to Prepare for and write CA Exams by Mr. T.N. Manoharan

Lecture meeting on issues in Bank Audit by Akeel Master


Title BCAS Web TVFormat Internet Television Live Streaming ServiceWhat do you need A computer with an internet connection or a cell phone with 3G connectivity and BCAS membershipMechanism of working Pay the subscription charges for BCAS TV and you will be emailed a user id and password, then log on to www.bcasonline.tv and view the videos or hear the audios of select events conducted by BCAS Features You can see videos or hear audios recordings on the move on your mobile or on your laptop. The website has been designed for enabling: •LiveStreamingServiceand •SearchforspecificvideosfrommultiplevideoshostedonthesiteDiscipline Videos/Audios of selected Lecture Meetings, Workshops, Study Circles, Seminars etc.Who can benefit Life and Ordinary Members of BCASHow to subscribe By cheque/DD/Credit Card: Payment Counter: BCAS, 7, Jolly Bhavan No.2, New Marine Lines, Mumbai - 400020 Imprest: If you are a BCAS member and if you have an imprest account then you can give instructions to adjust the subscription through the imprest account Cheques/Pay orders/DDs should be payable at Mumbai in the name of "Bombay Chartered Accountants' Society"

For more Information: Call +91-22-61377600 or write to [email protected] charges `600 per annum applicable for April 2011 to March 2012

Lecture meeting on Recent Developments in TDS by Mahendra Sanghvi

LecturemeetingonFDIPolicyplusIndustry-SpecificIssues(RealEstate, NBFC and Training Sectors) by Anup Shah

Subscribe Now!!!

International Taxation CommitteeChairman : CA. Kishor Karia Co-Chairman : CA. Rajesh Kothari Convenors : CA. Surin Kapadia CA. Dhishat Mehta CA. Gaurang Gandhi

Half-day Seminar on 'Authority of Advance Rulings – Law & Procedure' The International Taxation Committee is pleased to announce a half-day Seminar on 'Authority of Advance Rulings – Law & Procedure' jointly in association with WIRC of Institute of Chartered Accountants of India and Indian Merchants’ Chamber. The particulars of the Seminar are as follows.Day and Date : Friday, 11th November 2011Time : 09:30 a.m. to 01:30 p.m.Venue : Indian Merchants Chamber, Churchgate, MumbaiFees : `600 (Fees includes Seminar Material and snacks)Programme Outline

Sr. No Topics Speakers

1 Inaugural and Key note Address Mr. Justice P.K. Balasubramanyan, Chairman AAR

2 Practical Aspects and Expectations from Applicant

Mr. V.K. Shridhar – Member, AAR

3 Law and Procedures regarding Filing of Application of AAR including Practical aspects

Mr. Girish Dave, Advocate

4 Recent Important Rulings of AAR Eminent faculty


As all of you are aware, there are numerous amendments in Service tax Rules in the Finance Act, 2011 including introduction of Point of Taxation Rules. All these amendments have corresponding changes in service tax returns. The new service tax return form is expected in next few weeks. A workshop to discuss and deliberate upon the intricacies and practical aspects of new service tax return has been organised with a view to provide very timely and useful guidance to our members to deal with this change in rules.

The details of the workshop are as follows:

Speakers : CA. Puloma Dalal CA. Sunil Gabhawalla Day and Date : Friday, 7th October, 2011 Time : 3.00 p.m. to 7.00 p.m.Venue : Gulmohar Hall, BCASFees : For Members – `700 per participant Non-members – `1,000 per participant (The above fees includes contribution of `30 to BCAS foundation, cost of study material, if any, tea and snacks)


Workshop on Filing of Service Tax Returns

Indirect Taxes And Allied Laws CommitteeChairman : CA. Govind Goyal Convenors : CA. Sunil Gabhawalla CA. Suhas Paranjpe CA. Toral Mehta


BCAS Publications for Sale

Sr. No. Name of Publication - Books / CDs / Papers Price ` Postage `

1 Harmful tax competition—An Emerging Global Issue 100 25

2 CD on the discussions conducted at the 39th RRC 2006 by various paper writers 100 20

3 International Tax & Conference 2009, Lavasa Members

Non-Members700800

100100

4 Papers discussed at the International Tax & Finance Conference 20101) Cross-Border Taxation of Partnership – CA. Hitesh Gajaria2) Intellectual Property Rights – Structuring and Taxation – CA. Pranav Sayta3) Case Studies on International Taxation – Panel Discussion – CA. Vispi T. Patel4) Concept of Beneficial Ownership – CA. Nitin Karve5) Foreign Tax Credit….. Time to make some choices – CA. Ketan Madia6) Transfer Pricing – CA. Shikha P. Gupta7) Case Studies on International Taxation – Panel Discussion – CA. Mukesh Butani

MembersNon-Members

500600

100100

5 Custom Baggage Rules 50 25

6 Fundamental Rights and Duties of Indian Citizens (At a Glance) 50 25

7 CD on Panel discussion on Service Tax on Builders and Developers 350 50

8 CD on Seminar on NBFCs (including audit aspects) 350 50

Recent Publications

9 Reporting under CARO 2003, A CompilationRevised and updated

MembersNon-Members

225275

100100

10 Comparative Analysis of the Indian Tax Treaties (with CD) 245 150

11 A Hands-on Approach to XBRL and Revised Schedule VI Filing, Assurance, Taxonomy and Business Rules (with CD).

* This book has been published by CCH-a Wolters Kluver business. List price of the book ` 695, special price for BCAS members is ` 425.

425 150

All musicians are subconsciously mathematicians. — Thelonious Monk

Mathematics is written for mathematicians. — Nicolaus Copernicus

Quotes

Mathematicians do not study objects, but relations between objects. — Henri Poincare


In the current environment where plastic money rules and where physical give and take of money is slowly getting obsolete, have you

Wondered why you need to send cash/cheque to the BCAS every time there is a new publication brought out by the Society?

Ever missed out on a publication because you were out of town and the publication went out of stock by the time you resumed office?

Lost out on the early-bird discount that the BCAS allows on its most valued publication — the Referencer, simply because you forgot to book it in advance?

Hoped and hoped that you would get the snapshots of the Finance Bill proposals on your desk within a couple of days after the Budget Publication of the Society is released?

Well, we have good news for you — all these issues will be resolved. . . .if you opt for Imprest System.

All members, journal subscribers and students can take advantage of Imprest scheme. We have kept this scheme open for non members also. The modalities of the scheme are as under:

`2500 to be kept with us as Imprest cash in your account till you desire. There is no validity period for the same. (In case of non-member, `250 extra to be paid for account handling charges.)

The base level would be `250, which needs to be replenished again to `2500 by the person opting for the scheme.

Any publication, conference papers or CDs costing ` 250 or less than `250 would be sent to you by default as soon as they are published. This would also include one set of English edition of the Budget Publication (a set of 5 books).

Imprest System for Publications

For outstation members, the requisite amount of postage would also be adjusted from the said Imprest account.

For subscribers to the scheme in Mumbai, we need to be intimated in advance about the mode of delivery of the said publication. It can be sent either by courier (whereby the courier charges would also be adjusted from the imprest account) or it could be collected by your representative from the BCAS office. In case you opt for the latter option, then the delivery of the publication must be effected within 15 days of the receipt of the mail notifying the release of the publication, failing which, we would courier the publication to you, and debit the charges to your account.

For premium publications like BCAS Referencer, Calendars and other topic specific publications, we would send an email to all the subscribers and would send these publications only on receipt of intimation from the subscriber. An email needs to be sent to [email protected] specifying the relevant details, such as quantity and the type of publication, etc. (e.g., in the case of the Referencer — whether Premium, Refill or Super Saver)

An intimation showing the account balance would also be sent to the subscriber every time along with the publication.

For exit options, if a subscriber intends to exit within six months of joining the scheme, then an exit load of `100 would be deducted and the balance would be returned to him/her. In other cases, the entire balance would be returned without any exit load, upon receipt of the exit intimation.

So, what are you waiting for? Pick up your cheque books, sign a cheque for `2500 and send it to us at the BCAS office and relax . . . .

Please visit BCAS Website www.bcasonline.org for Imprest System form.



Edited, printed & published by Narayan Varma on behalf of Bombay Chartered Accountants’ Society, Mumbai-400020. Printed at Spenta Multimedia, Mumbai-400013.

Registered with the Registrar of Newspapers for India under R.N. 68365/98Regd. No. MH/MR/South-88/2009-11Posted at Mumbai Patrika Channel Sorting Office, Mumbai-1Published on 8th of every month

Please fill in the above form and send the same to the Society’s office along with requisite payment.Please mention your name and membership number on the reverse side of the local cheque/at par 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. Members are requested to co-operate in this regard. Cancellation policy: Kindly note that no refund will be given in case of cancellation for any reason and no substitute will be allowed, once the enrolment form is submitted.

Combined Enrolment Form

Name : ..................................................................................................................................................................................................................Address : ..............................................................................................................................................................................................................E-mail :..................................................... Mobile : .................................................... Tel. : ..................................... Fax : ..................................BCAS Memb. No. : .................................. Tel. (O) : ................................................... Tel. (R) : ............................... Fax : ...................................Choice of food (wherever applicable) .......... Jain Non-Jain Cash/Draft/ Cheque no. .................. Drawn on ............................................................................................. Bank,Dated ......................... for an amount of r........................................................ is enclosed.

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

The Reserve Bank of India has issued the following 1 Circular

A. P. (DIR Series) Circular No. 9 dated August 29, 2011Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses

Presently, under the Rupee Drawing Arrangements (RDA), inward remittances for permissible purposes are received in India through Exchange Houses situated in Gulf countries, Hong Kong and Singapore, with prior approval of RBI.

This circular has extended this facility of RDA under the Speed Remittance procedures to Exchange Houses situated in Malaysia.

From RBIContributed by : CA. Gaurang Gandhi

Organization: Bombay Chartered Accountants’ Society

Designation: Secretary to the President

Applications are invited for the post of Secretary to President.

The incumbent would be responsible for the Secretarial work of President, Office Bearers, Past Presidents, Committee Members and General Manager.

The candidate should be Graduate in English medium with relevant experience of more than 3 years (preferably in a similar organization/association) with good communication and computer skills. The salary would not be a constraint for right candidate.

Please apply in confidence with your detailed bio data stating experience and expected salary to The General Manager at [email protected]

Vacancy

Quotes"In three words I can sum up everything I've learned about life: it goes on."

— Robert Frost

"To live is the rarest thing in the world. Most people exist, that is all." — Oscar Wilde

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SEMInAR : Half-day Seminar on 'Authority of 11-11-2011 r600 ...................................................

Advance Rulings – Law & Procedure'Integrated Security Management 8-10-2011 r750 for members .................. - Practice Approach r1,000 for non-members ....................

STUDY COURSE : Study Group on International Economics 4-10-2011 r1,000 ................................................

WORKSHOP :Workshop on Filing of 7-10-2011 r700 for members .................. Service Tax Returns r1,000 for non-members ....................

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