10 bcasnewsletter - bombay chartered accountants' society · speaker i brahma kumari shivani...

BCAS Newsletter I December 2011 1

Vice-President’s Communiqué

Harnessing Talent and Providing Quality Service

Vol. 14 n No. 9 n December 2011

n A Monthly Newsletter of the Bombay Chartered Accountants’ Society

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

BCASNewsletterDear Member,

At the Society, we believe that a true professional is one who is a student all his life. The various programmes conducted by the Society for disseminating knowledge have been well received, thanks to the support of its dedicated members. The Workshop on Valuation, the Seminar on Cenvat Credit and Refunds of Service Tax, and the 3rd Residential Study Course on IFRS/Ind AS received a tremendous response. We even had to turn down the requests of several members due to space constraints at the venue!

However, we are not resting on our laurels and have scheduled many new programmes in the coming months, the details of which are given in this edition of the Newsletter.

I am happy to share that many reputed corporates became members of the Society last month. We appreciate the initiative of the members for having motivated their clients to take up the BCAS Corporate membership. We hope many more corporates to take up the Society’s membership with your support.

The BCAS Desk-Top Calendar 2012 had to be reprinted, thanks to an overwhelming response. I urge those of you, who have not yet booked, to buy them before they go out of stock.

As always, the Society is striving to meet the needs of members. One such effort is the recently released Journal CD, covering issues from April 2000 to March 2011. The new Journal CD has innovative features such as faster and accurate word search, multiple sorting options, etc. The most exciting feature of the CD is listening to the articles read aloud and these come with the pause, resume and stop features. I am sure this CD would be of great utility to members. The Journal CD will be available from the last week of December.

BCAS had earlier represented to CPC Bengaluru, in connection with adjustment of arrears against refunds due, without any intimation to the tax payer. CPC had acceded to the request of BCAS, and has started issuing the intimation. It has been noticed, that there are many non-

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]

Lecture MeetingVenue I Rama Watumall Auditorium, K. C. College, 124, Dinshaw Vaccha Road, Churchgate, Mumbai – 400020Day, Date & Time I Wednesday, 21st December 2011, 6.00 p.m.*Speaker I Brahma Kumari ShivaniSubject I Nurturing Relationships* (Under the auspices of Amita Memorial Trust and jointly with The Chamber of

Tax Consultants)

*Fellowship over a cup of tea at 5.30 p.m.

Venue I Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai - 400020Day, Date & Time I Wednesday, 18th January 2012, 6.15 p.m.*Speaker I CA. Gautam NayakSubject I Taxation of Charitable Trusts – Recent Issues*Fellowship over a cup of tea at 5.45 p.m.

existing arrears which have been wrongly communicated to CPC by the respective AOs. BCAS has recently made a representation to all the CCITs in Mumbai regarding the notices of arrears proposed to be adjusted against future refunds being received by a large number of taxpayers from CPC, Bengaluru. BCAS has requested that instructions be issued to all AOs that rectifications be carried out expeditiously of all cases of arrears wrongly uploaded on the CPC website. A copy of one such representation is available on BCAS website and has also been printed in the journal.

Last but not the least, BCAS takes this opportunity to wish you and your family a peaceful and prosperous New Year.

With warm regards Yours truly,

CA. Deepak R. Shah

PROGRAMMES AT A GLANCEDirect Tax Laws Study Circle Meeting .............................................. 20-01-2012....................... Lotus Hall, BCAS ................................................................................................. 3

Half-Day Seminar on Appeals, Revision & Rectifications ................. 21-01-2012....................... Emerald Hall, Hotel City Point, Khodadad Circle, Dadar T.T., Mumbai .................. 3

Half-Day Nature Walk at Sanjay Gandhi National Park ...................... 29-01-2012....................... Sanjay Gandhi National Park, Borivali (East)............................................................ 3

Second Intensive Study Course on Transfer Pricing ...........................4-02-2012......................... Indian Merchants’ Chamber, Churchgate, Mumbai ............................................... 2

Half-Day Seminar on Survey, Search & Seizure – Practical Aspects.. 11-02-2012........................ Sunderbai Hall, 4th Floor, New Marine Lines, Mumbai .......................................... 3

Internal Audit Studies Foundation Course.......................................... 16-02-2012........................ Federation of Gujarat Industries, FGI Business Centre, Gotri Sevasi Road,

Khanpur, Near Sevasi, Vadodara ........................................................................... 5

E-Learning Program on XBRL – ........................................................ Ongoing program............... Online Program...................................................................................................... 4

Lecture Meeting................................................................................. 21-12-2011........................ Rama Watumall Auditorium, K. C. College, Churchgate, Mumbai......................... 1

Lecture Meeting................................................................................. 18-01-2012........................ Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, Mumbai............................1

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

BCAS Newsletter I December 20112

Second Intensive Study Course on Transfer PricingThe Second intensive Study Course on ‘Transfer Pricing (TP)’ to be conducted in classroom style, will be spread over 36 sessions in all, covering various aspects of TP including:

• Associated Enterprises • International transactions • Concept of ALP • Comparability study • Transfer pricing methods – CUP, RPM, CPM, transactional and profit methods • Selection of comparables • Safe harbor rules • Thin capitalization rules • APAs • OECD transfer pricing guidelines • Intangible property • Intra group services • Cost contribution arrangements • Financial service sector - transactions • Transfer Pricing documentation • Drafting audit report and Transfer Pricing study including live case studies of select industries • Transfer pricing controversies • Transfer pricing litigations • Transfer pricing dispute resolution through MAP • International decisions on transfer pricing

Faculty will comprise of senior professionals having expertise in the field of Transfer Pricing. The faculty may include: Anish Chakravarty, Arun Saripalli, Darpan Mehta, Dhaivat Anjaria, Hasnain Shroff, Ian Clarke, Karishma Phatarphekar*, Kedar Karve, Keval Doshi*, Kishore Karia, Manisha Gupta, Maulik Doshi, Mehul Shah, MP Lohia, Munjal Almoula, Rakesh Alshi, Rohan Phatarphekar, Samir Gandhi, Sanjay Kapadia, Sharad Jain*, Shikha Gupta, Sunil Kothare, Sushant Nayak, TP Ostwal, Vaishali Mane, Vispi Patel, Waman Kale, Yashodhan Pradhan

(* subject to confirmation)

Days & Dates : All Saturdays from 4th February, 2012 to 14th April, 2012 (excluding 3rd and 10th March, 2012)Time : 9.00 a.m. to 6.00 p.m.Venue : Indian Merchants’ Chamber, Churchgate, Mumbai.Fees : R15,000 for members of the BCAS, R20,000 for non-members (Limited seats), (fees inclusive of course material, refreshments, lunch and R50 towards contribution to BCAS Foundation.)

As the Course is spread over a period of almost two months, in case of any contingency, the Society may be required to change the venue and/or the date at short notice.

Enrolment is restricted to 80 participants on first-come-first-serve basis. To give benefit of this course to a larger spectrum of members, enrollment would be restricted to a maximum of 7 members from the same group of organisations on a first come first served basis and the additional members from that group of organisations would be placed on waiting list. Subject to availability of the seats they may be enrolled one week before the commencement of the Course.

Course fees are non-refundable. The enrolment is non-transferable. As per the Society’s policy, a participant is not permitted to substitute another person.

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. Surin Kapadia and CA. Dhaval Sanghavi

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 December 2011 and 14th, 21th and 28th January 2012. 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 6th January 2012 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 7th January 2012 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

Enrolment form is printed on page 12.


Appeals to the Income Tax Appellate Tribunal and the Income-tax Department form an important part of a Chartered Accountant’s practice. These representations before the appellate authorities can be better handled with a perspective on the latest rulings, changes in procedures, recent experiences and representation skills. Rectifications and Revisions of intimations & orders received from the Income Tax Department (including those from CPC) are fraught with uncertainties and repetitive corrections. These Rectifications and Revisions can be swiftly resolved with the knowledge of the ever-changing procedures, avoidable errors and the approach of the authorities.

To update the professionals on these complex provisions, a half day seminar has been planned as under:

Faculty : Hiro Rai, Advocate – Appeals to Tribunal CA. Anil Sathe – Appeals to Commissioner (Appeals) CA. Ameet Patel – Revisions and Rectifications (including Rectification of CPC intimations)Day and Date : Saturday, 21st January 2012Time : 9.00 a.m. to 9.30 a.m. – Registration 9.30 a.m. to 1.30 p.m. - SeminarVenue : Emerald Hall, Hotel City Point, Khodadad Circle, Dadar T.T., Mumbai – 400014Fees

For enrolment up to 31st December 2011

For enrolment from 1st January 2012

Members (Life & Ordinary)

R800 R900

Non - Members R1,200 R1,300

(The above fees includes contribution of R30 to BCAS Foundation, cost of study material, tea and snacks)


Search u/s 132 and survey u/s 133A are important tools of the Income Tax Department for detecting and preventing tax evasion. The Department may take recourse to these provisions to verify whether the Income Tax Returns filed / to be filed are consistent with the books of accounts, documents, cash and other assets in the possession of the assessee. There are various consequences of such actions, in the course of assessment/reassessment. These important provisions of the Income Tax Act are also ridden with controversies. To familiarise and update the professionals on the intricacies of these complex provisions, a half day seminar has been planned.

Faculty : Shri B. P. Gaur – Key Note Address (DGIT-Investigation, Mumbai) CA Chetan Karia – Search Procedure CA K. C. Singhal – Post Search Assessment (Retired ITAT Member) Advocate K. Shivaram – SurveyDay and Date : Saturday, 11th February 2012Time : 9.00 a.m. to 9.30 a.m. – Registration 9.30 a.m. to 1.30 p.m. - SeminarVenue : Sunderbai Hall, 4th Floor, New Marine Lines, Mumbai 400020Fees

Early Bird (upto 31st January 2012)

After 31st January 2012

Members (Life & Ordinary)

R1,000 R1,100

Non - Members R1,250 R1,350

(The above fees includes contribution of R50 to BCAS Foundation, cost of study material, if any, tea and snacks)


The Human Resource Development Committee of the Bombay Chartered Accountants' Society jointly with The Chamber of Tax Consultants has organised a half day Nature Walk at the "Sanjay Gandhi National Park, Borivali (East) on Sunday, 29th January, 2012, from 7.00 a.m. to 12.30 p.m. for the members, their families and friends, followed by refreshments. This event is being organised through Bombay Natural History Society (BNHS). The registration shall be restricted to 100 participants on first come - first served basis. The details and charges will be announced in the next Newsletter. Kindly block your date.

Half-Day Seminar On “Appeals, Revision & Rectification”

Half-day Seminar on ‘Survey, Search & Seizure – Practical Aspects”

Half-Day Nature Walk atSanjay Gandhi National Park

Taxation CommitteeChairman : CA. Gautam Nayak Convenors : CA. Saurabh Shah CA. Anil Doshi CA. Kirit Kamdar

Workshop Co-ordinators: CA. Sonalee Godbole and CA. Rutvik Sanghvi

Taxation CommitteeChairman : CA. Gautam Nayak Convenors : CA. Saurabh Shah CA. Anil Doshi CA. Kirit Kamdar

Workshop Co-ordinators: CA. Manori Shah and CA. Pinky Shah

Human Resources CommitteeChairman : CA. Mayur Nayak Convenors : CA. Bharatkumar Oza, CA. Aliasgar Kherodawala and CA. Ashish Fafadia

Forthcoming Study Circle Meeting

Study Circle/Group Direct Tax Laws

Day, Date & Time Friday, 20th January 2012, 6.15 p.m.

Subject Provisions and Practical aspects relating to Stay Petition for Demand and Recovery Proceedings

Group Leader Advocate Mandar Vaidya

Convenors CA. Mayur Kisnadwala and CA. Harshal Bhuta

Venue: Lotus Hall, BCAS

BCAS Members (not enrolled for the specific study circle) can attend the study circle meeting on payment of R100 per meeting with prior information to Mr. Amit Singh on [email protected]


XBRL stands for eXtensible Business Reporting Language. It is one of the families of "XML" languages which is becoming a standard means of communicating information between businesses and on the Internet. Implementations of XBRL are growing rapidly around the world.

In order to foster the understanding of XBRL, the Infotech & 4i Committee of BCAS, XBRL Planet (owned by Mr. Conor O’ Kelly, Vice-Chairman, XBRL International) & NextGen Knowledge Solutions Private Ltd. have teamed up to provide online XBRL training. Our main goal is to transfer knowledge and unique experience of Financial Reporting through XBRL.

First of its kind e-Learning program on XBRLOver 9 Hours of online training including Q & A session on XBRL Course Module :

Course objectives :• To help trainees understand the meaning and nature of XBRL and

the technical terms commonly associated with XBRL.• To help trainees understand the basics of XBRL Taxonomies.• To help trainees understand how to use XBRL Tools.• To help trainees understand how to create instance documents.

Pre-requisites :• Familiarity with accounting system installation and report writing

recommended• Participants in this e-Learning Module need not have prior experience

of XBRL.

Fees :• The total investment to be made by you for this unique online Training

Course shall be `10,000 (Rupees Ten Thousand Only).

e-Learning Materials & Certification : • The participants will have access to the training sessions for 30

days during which, they will get unlimited access. They will also get access to special live Q&A sessions.

• At the end of the training, a certificate of participation would be issued to the participants who go through the entire module.

XBRL Course Module ContentModule — I

Overview of XBRL

• Meaning of XBRL• Key concepts of XBRL• Components of Business

Reporting Supply Chain• Technical Terms associated with

XBRL

• Advantage of use of XBRL • Key drivers of XBRL• XBRL Adoption around the

world• XBRL & IFRSs• Applications of XBRL

Module — IITaxonomy & Instance documents

• Meaning of XBRL Taxonomy• XBRL Taxonomy Architecture• Linkbases, Tuples, Dimensions, Hypercubes, Axis, Members, etc.• XBRL Taxonomy Extension• XBRL Instance Document• Instance Document Building Blocks (facts, contexts, units &

footnotes)• Best Practices

Module – IIIIndian GAAP Taxonomy & Business Rules

• Overview of Indian GAAP Taxonomy

• Analysis of Indian GAAP Taxonomy

• Business Rules• Analysis of Business Rule

XBRL Implementation Approaches & Indian Regulatory Requirements

• XBRL Implementation Approaches

• Indian Regulatory Requirements

Module — IVXBRL Tool

• Defining Unit, Context, Currency, Decimal

• Detailed Tagging• Block Tagging

XBRL Report Creation

• Steps involved in XBRL Report Creation

• Editing XBRL Instances

• Validating XBRL Report at MCA Validation Tool

• Viewing XBRL Report

Module — VXBRL Report Creation

• Tagging of Financial Statements Viz: Balance Sheet, P & L Account, Cash Flow Statement & Schedules

• Tagging of Notes to Accounts, Auditor's Report, Director's Report

Module — VIXBRL Assurance

• Global Trends • Current Approaches to XBRL

Assurance• XBRL Assurance Framework

• Indian Regulatory Requirements

• Assurance on XBRL Instance Documents for MCA filings

E-Learning Modules on XBRL

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

E-Learning program on XBRL


BCA Journal CD – April 2000 to March 2011

Available in the last week of December 2011

The updated edition of BCAS Journal CD, a digital repository of the BCA Journals from April 2000 to March 2011 (last 11 years) with intelli-search and other value added features was released on 7th December 2011

Title BCA Journal CD – April 2000 to March 2011

Format Digital CD

Discipline Accounting, Taxation, International Taxation, Information Technology, RTI Act, etc.

Who can benefitChartered Accountants in Practice, Financial Controllers, Compliance Professionals, Stu-dents, Legal Professionals, Management Professionals Business Consultants, Businessmen, Accountants Libraries, Universities, Colleges and other institutions.

Authors Various Authors

How to Order

Publication Counter: BCAS, 7, Jolly Bhavan No. 2, New Marine Lines, Mumbai-400020E-mail: [email protected]: if you are a BCAS member through your imprest accountFor Information: +91-22-61377600 Pay at the publication counter by cash or through cheque/pay order payable at Mumbai in the name of "Bombay Chartered Accountants' Society"

Price

BCAS Members (Life and Ordinary) & Journal Subscribers R500 and Non-Members R600 per CDPlease add an additional R50 if you require the same by post. For Air Mail charges - check with BCAS Office.

Features

1. Faster and very accurate word search2. Multiple sorting options3. Full index display with keyboard & mouse support4. Reading aloud of index, article and other products with pause, resume and stop functions5. Saving of index, article and other products6. Printing of index, article and other products7. New clean, classy and easy to use interface with fast loading time8. Uses latest frame work for faster loading of application, installation and uninstalling

of software9. Online searching options help you to get result as soon as you start typing

Bombay Chartered Accountants' Society


The Reserve Bank of India has issued the following 6 circulars and DIPP has issued 1 Press Note

A. P. (DIR Series) Circular No. 48 dated November 21, 2011Mid –Sea Trans-shipment of catch by Deep Sea Fishing Vessel

Annexed to this circular are the GR declaration procedure based on the norms prescribed by the Ministry of Agriculture, Government of India. These have to be followed by exporters who undertake mid-sea trans-shipment of catches by Indian owned vessels.

A. P. (DIR Series) Circular No. 49 dated November 22, 2011Foreign Investments in Infrastructure Debt Funds

This circular permits eligible non-resident investors, subject to certain terms and conditions, to invest as follows in Infrastructure Debt Funds (IDF): -

4. Eligible Instruments / Securities for non-resident investment in IDFs

Eligible non-resident investor

Eligible instruments

(i) SEBI registered eligible non-resident investors in IDF – Sovereign Wealth Funds, Multilateral Agencies, Pension Funds, Insurance Funds and Endowment Funds

Foreign Currency and Rupee denominated bonds and rupee denominated units issued by IDF

(ii) SEBI registered FII who qualify as (i) above

Foreign Currency and Rupee denominated bonds and rupee denominated units issued by IDF

(iii) SEBI registered FII who do not qualify as (i) above

Rupee denominated bonds and units issued by IDF

(iv) NRI Rupee denominated bonds and units issued by IDF

The original / initial maturity period of the securities must be 5 years with a lock-in period of 3 years. However, transfer between eligible non-resident investors is permitted during this period. Investments by non-residents, other than NRI, must be within the overall cap / limit of US $ 10 billion within the overall cap of US $ 25 billion for FII investment in bonds / non-convertible debentures issued by Indian companies in the infrastructure sector or by Infrastructure Finance Companies. There is no cap / limit on NRI investment IDF by way of Rupee denominated bonds / units. Foreign currency denominated bonds must comply with External Commercial Borrowing guidelines / regulations.

A. P. (DIR Series) Circular No. 50 dated November 23, 2011Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives – Foreign Currency – INR Swaps

Presently, net supply of foreign exchange in the Foreign Currency – INR swap market cannot exceed US $ 100 million.

This circular removes this cap / limit of US $ 100 million on net supply of foreign exchange in the Foreign Currency – INR swap market.

From RBIContributed by : CA. Gaurang Gandhi

A. P. (DIR Series) Circular No. 51 dated November 23, 2011External Commercial Borrowings (ECB) Policy

This circular revises the all-in-cost ceiling for ECB as under: -

Average Maturity Period All-in-cost over 6 month LIBOR*

Existing Revised

3 years and up to 5 years 300 bps 350 bps

More than 5 years 500 bps 500 bps (no change)

This change which has come into force with immediate effect will be applicable till March 31, 2012.

A. P. (DIR Series) Circular No. 52 dated November 23, 2011External Commercial Borrowings (ECB) Policy – Parking of ECB proceeds

Presently, borrowers are permitted to either keep ECB proceeds abroad or remit these funds to India, pending utilization for permissible end-uses.

This circular state that henceforth all proceeds of ECB raised abroad and meant for Rupee expenditure in India should be brought back immediately by the borrowers for credit to their Rupee accounts with banks in India. These rupee funds cannot be used for investment in capital markets, real estate or for inter-corporate lending. Only ECB proceeds meant for foreign currency expenditure can be retained abroad pending utilization.

A. P. (DIR Series) Circular No. 53 dated December 2, 2011Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between the Government of India and the erstwhile USSR

The Rupee value of the special currency basket, with effect from October 25, 2011 is R71.668914 as against the earlier value of R69.09329.

Press Note No.3 (2011 Series) – D/o IPP File No.: 1/16/2010-FC-I dated November 8, 2011

Review of the policy on Foreign Direct Investment in pharmaceuticals sector insertion of a new paragraph 6.2.25 to 'Circular 2 of 2011-Consolidated FDI Policy'

Presently, Foreign Direct Investment (FDI), up to 100%, under the automatic route, is permitted in the pharmaceuticals sector. This circular has made the following changes, with immediate effect, to the said policy: -(i) FDI, up to 100%, under the automatic route, will continue to be

permitted for greenfield investments in the pharmaceuticals sector.(ii) FDI, up to 100%, will be permitted for brownfield investments (i.e.

investments in existing companies), in the pharmaceuticals sector, under the Government approval route.

As a result, 'Circular 2 of 2011- Consolidated FDI Policy', dated 30.09.2011, issued by the Department of Industrial Policy & Promotion stands amended with the insertion of the following new Para 6.2.25: -

6.2.25 Pharmaceuticals

6.2.25.1 Greenfield 100% Automatic

6.2.25.2 Existing companies

100% Government


BCAS Calendar 2012

BCAS Calendar 2012 – Now Available across the counter at BCAS Office

“NO” CONFUSION……“ONLY” SOLUTION• HelpsCAstoovercomedifficultiesofremindingduedatestoclients

• HelpsCAstoeducateclientsofvariousservicesrendered

• Timelycomplianceofvariousstatutesisneedofthehour

TheBCASCalendar2012remindstheuserofdatesforfilingorpaymentsundervariousstatuteslikeIncomeTax,MVAT,ProfessionTax,ServiceTax,P.F,ESICetc.

BCASCalendarisa‘PerfectDateManagementTool’whichis100%utilityorientedandspeciallydesignedontheconceptof‘DoRemember’forthebenefitofclientsandprofessionals.

TheBCASCalendars2012willbeavailableinapackof5,10,50and100.

BelowistheorderformfortheBCASCalendar2012.

ORDER FORM FOR CALENDAR 2012

I/Weam/areinterestedintheorderingthefollowing:

Pack Price perPack

A

Quantityof packs

B

TotalC =

A x B

Postage per pack*

D

Quantityof 5 packs

E

TotalF =

D x E

Grand TotalC + F

5 R250

10 R440

50 R1900

100 R3200

*PostageChargesExtraperpackof5calendars

R50/-forlocal

R80/-ifoutsideMumbaibutwithinMaharashtra

R100/-ifoutsideMaharashtra

Name:.........................................................................................................................................................................................................Firm'sName:...............................................................................................................................................................................................Firm'sAddress:................................................................................................................................................................................................................................................................................................................................................................................................................E-mail:.........................Mobile:.................................Tel.:.................................Fax:.................................................................................BCASMemb.No.:...................Tel.(O):...............................Tel.(R):............................Fax:.........................................................................Cash/Draft/ChequeNo..................drawnon.....................................................................................................Bank,dated..................fortotalamountofRs........................................................................................isenclosed.




InfoTech & 4i Committee&

Membership & Public Relations Committee present

BCAS Web TV

Lecture meeting on Recent Developments in AS/IFRS/Ind AS – Global and India held by BCAS on 7th December 2011 is available on BCAS Web TV

Other videos on the BCAS Web TV are:• Lecture meeting on Ethical Hacking by Shantanu Gawde, India’s Youngest Ethical Hacker• Lecture Meeting on Practical Issues – Transfer Pricing Documentation and Certification by

Rakesh Alshi, Director, Transfer Pricing, Deloitte Haskins & Sells• Lecture Meeting on E-filing of Returns for Assessment Year 2011-12 – Practical Issues by

CA. Ameet Patel• Half–day Workshop on “How to Conduct Tax Audit” by

CA. Himanshu Kishnadwala and CA. Anil Sathe• 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• Lecture 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• Lecture Meeting on Issues in Bank Audit by Akeel Master• Lecture Meeting on Recent Developments in TDS by Mahendra Sanghvi• Lecture Meeting on FDI Policy plus Industry-Specific Issues (Real Estate, NBFC and

Training Sectors) by Anup Shah• * Free Video Talk on How to Prepare for and Write CA Exams by Mr. T.N. Manoharan

Subscribe Now!!!

For further details log on to www.bcasonline.org

Subscription Charges: R600 per annum applicable for April 2011 to March 2012. Payment can be made by cheque/DD payable at par in Mumbai in favour of ‘Bombay Chartered Accountants’ Society’. You can also pay by cash/

credit card at the payment counter of BCAS Office. If you have an Imprest Account then you can instruct us to ad-just the subscription through the Imprest Account.


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 International Tax & Conference 2009, Lavasa Members

Non-Members700800

100100

3 Custom Baggage Rules 50 25

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

5 Reporting under CARO 2003, A CompilationRevised and updated

MembersNon-Members

225275

100100

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

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

8 Namaskar ki Bhet 100 50

9 A Hands-on Approach to XBRL and Revised Schedule VI.Members

Non-Members425695

150 150

10 Hedging made simpleMembers

Non-Members225250

5050

11 Annual Convention – RTI : Expanding Horizon 40 20

12 Referencer Premium Set with CD, Table Diary and Pocket Diary 750 200

Member / Journal / Student subscribers are requested to inform any change of address of correspondence by e-mail to [email protected] on or before 20th of every month. Intimation received after 20th of the month will be effective from the next month onwards. Please help us to serve you better.

"Continuity is at the heart of conservatism: ecology serves that heart."

- Garrett Hardin

"We won't have a society if we destroy the environment."- Margaret Mead

"The first law of ecology is that everything is related to everything else."

- Barry Commoner

"There is a sufficiency in the world for man's need but not for man's greed."

- Mohandas K. Gandhi


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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)

Study Course : Second Intensive Study Course 4-02-2012 r15,000 for members ................

on Transfer Pricing to 14-04-2012 r20,000 for non-members .........

SEMINAR : Half Day Seminar on Appeals, 21-01-2012 r800 for members ............... Revision & Rectifications r1,200 for non-members ......Half Day Seminar on ‘Survey, Search & Seizure Practical Aspects 11-02-2012 r1,000 for members .............

r1,250 for non-members .......

The Trustees of BCAS Foundation acknowledge the following contributors who have contributed R5,000 or more to the BCAS Foundation during the period of October 2011 and November 2011. We are thankful for the support. 1. Mr. Uday V. Sathaye `50,000/- (Chalo English Sikhayein Project) 2. Mrs. Kalpana P. Marfatia `5,000/-

Our Contributors

Designation: Accounts Manager

Applications are invited for the post of Accounts ManagerThe incumbent would be responsible for overall periodical trial balance, income & expenditure accounts, balance sheet twice in a year, reconciliation upto finalization, maintaining financial discipline, maintaining registers for movable and immovable properties, preparation of reports for auditor’s queries.

The candidate should be Graduate in English medium with relevant experience of more than 5 years 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]

VACANCIES

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]

Organization: Bombay Chartered Accountants’ Society

"We never know the worth of water till the well is dry."- Thomas Fuller

"Every day is Earth Day."- Author Unknown