lecture meetings vice-president’s communiqué · auditing in accounting software (like tally)...

BCAS Newsletter, October 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 : Thursday, 19th October 2006

Time : 6.00 p.m.

Speaker : Dr. Dipak Jain, Dean, Kellogg School ofManagement, Northwestern University, Illinois, USA

Subject : Innovation and Entrepreneurship in theGlobalising WorldA. D. Shroff Memorial Lecture (jointly with Forumof Free Enterprise)

Day & Date : Wednesday, 8th November 2006*

Speaker : Mr. T. P. Ostwal, Chartered Accountant

Subject : Practical Aspects and Recent Developments inTransfer Pricing

Day & Date : Wednesday, 22nd November 2006*

Speaker : Mr. Dilip Lakhani, Chartered Accountant

Subject : Issues in Assessments and Re-assessments

*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 tothe above topics either by email ([email protected]) or physicallyat the BCAS office.

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

(unless otherwise specified)

Rajesh Kothari

Panel discussion on Recent Tax Controversies ..................................... 4-11-2006 ................................. M. C. Ghia Hall, Mumbai-400001 ................................................................................ 3MVAT Audit — Some important issues .................................................. 10-11-2006 ............................... BCAS Auditorium, Jolly Bhavan No. 2, New Marine Lines, Mumbai-400020. .... 2Full-Day Seminar on Co-operative Housing Societies ........................... 11-11-2006 ............................... B. N. Vaidya Sabhagriha, Indian Education Society, (King George School),

6th Lane, Lakhamshi Nappu Road, Mumbai-400014 ................................................ 4Computer Training Programme for Senior Chartered Accountants ..... 9 to 12, 15 to 19-1-2007 ..... YCP’s AIT

13, 20-1-2007 .......................... BCAS ................................................................................................................................ 2Independent Directors Studies — Batch III ............................................. From 10-11-2006 .................... BCAS and SPJIMR ........................................................................................................ 6Internal Audit Studies — 5th Batch ......................................................... From 7-12-2006 ...................... Prin. L. N. Welingkar Institute of Management Devl. & Research, Mumbai-19 . 8

�Harnessing Talent and Providing Quality Service October 2006Vol. 9 No. 7

Dear Member,

October comes and a festive mood sets in for all but the CharteredAccountants and accounts personnel engaged in commercial concerns.They are busy in meeting deadlines for various compliances like QuarterlyTDS returns, Service tax returns, completing tax audits, preparing Income-tax and FBT returns and so on. They are forced to remain aloof from thefestivity and celebrations of the month, year after year. This will continuetill the Government understands and modifies the compliance dates.

As if this was not enough, from the current year e-filing of corporatereturns of income has become mandatory. Facility of e-filing is a goodmove since it will immensely benefit us in the long run. But, looking atthe time given to the corporates and the professionals to understand itsnuances, and the technical snags one confronts with, it should have beenoptional for this year.

The Society had an interactive meeting with Mr. R. R. Singh, Member (L),CBDT, and Mr. Arvind Modi, Jt. Secretary, TPL, CBDT. Various difficultiesfaced in e-filing of return of company assessees were expressed and itwas suggested that the Government should allow sufficient time foreverybody to familiarise with the new e-filing procedures. They have agreedto resolve the technical problems encountered in electronic filing of returns.

MCA21, the process of e-filing that aims at paperless environment underthe Companies Act, has been rolled out at all the ROC locations. All theforms including annual returns and Balance sheets would be accepted fromSeptember 16, 2006, only in electronic mode under the Digital Signaturesof the authorised persons. Let us hope that this initiative of change in thefunctioning of the Government will bring true benefits of the 21st centuryto all the stakeholders.

On the joyous occasion of Diwali, I convey my warm greetings and goodwishes to all fellow members and their families. May the festival of lightsinspire each one of us to move from darkness to light and bring the truewealth of peace, health, happiness and love.

Available for sale

Fringe Benefit Tax — An AnalysisBCAS Publication

Flash

BCAS Newsletter, October 20062

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Course Co-ordinator : Kamlesh Doshi

Computer Training Programme forSenior Chartered Accountants

Dear Senior Chartered Accountants,

Do you still depend on your computer operator to perform everydaytasks like working with files in Word and Excel, checking emails,downloading information from the Internet, auditing around accountingsoftware, etc. ? Does the computer phobia still haunt you ?

After the runaway success of the ‘Computer Training Programme forSenior Chartered Accountants’, BCAS in partnership with YCP’s AIT,now presents the 4th batch of computer training programme, speciallydesigned for Chartered Accountants of over 55 years of age.

This programme is designed to impart only basic knowledge ofcomputers, Microsoft Windows, MS Office and Accounting Software.Hence, this programme is ideally suited for Senior CharteredAccountants who wish to learn basic computer tasks at their ownpace. So, if you already have working knowledge of computers, thisprogramme is not meant for you.

Programme highlights :

Hands-on training : 18 hrs of hands-on training at YeshwantraoChavan Pratishthan’s Computer TrainingLaboratory.

PC forevery participant : One computer per participant (at YCP’s AIT)

Four additional Around 9 hours’ session at BCAS where specificsessions at BCAS : application of Word, Excel and Internet/email

and Auditing in Accounting Software will bedemonstrated to Chartered Accountants. This willbe in classroom style on the LCD screen.

CD with Along with the course material distributed bycourse material : YCP’s AIT, a CD containing templates, files, and

other readymade material useful to CharteredAccountants will be distributed.

Programme details :

1. Course Coverage :

At YCP’s AIT

➠ Computer Fundamentals (02.00 hrs)➠ Microsoft Windows (02.00 hrs)➠ Microsoft Word (04.00 hrs)➠ Microsoft Excel (06.00 hrs)➠ Internet/Email (03.00 hrs)➠ Troubleshooting (01.00 hr)

Total hrs. at YCP’s AIT : (18.00 hrs)

At BCAS

➠ Microsoft Word (02.00 hrs)➠ Microsoft Excel (02.00 hrs)➠ Internet/Email (02.30 hrs)➠ Auditing in Accounting Software (like Tally) (02.30 hrs)

Total hrs. at BCAS : (09.00 hrs)

2. Date, time and venue :

Day and date Time Venue

9 to 12-1-2007 (Tue. to Fri.) 6 to 8 p.m. YCP’s AIT13-1-2007 (Sat.) 1 to 5.30 p.m. BCAS15 to 19-1-2007 (Mon. to Fri.) 6 to 8 p.m. YCP’s AIT20-1-2007 (Sat.) 1 to 6 p.m. BCAS

YCP’s AIT — Yashwantrao Chavan Pratishthan’s Academy of Info.Tech., Near Mantralaya, Nariman Point, Mumbai.

3. Programme fees :

YCP’s AIT fees Rs. 1,515BCAS charges Rs. 1,465Contribution towards BCAS Foundation Rs. 20Total fees Rs. 3,000

Enrolment form is printed on page 10.

Note : Admission restricted to first 25 participants only, so register instantlyto avoid disappointment.

Chairman : Shariq ContractorConvenors : Samir Kapadia

Nikunj ShahNirav Dalal

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

Anup ShahSunil Gabhawalla

MVAT Audit — Some important issuesConsidering the intricacies and practical aspects of VAT Audit inMaharashtra, the Indirect Tax and Allied Laws Committee of BombayChartered Accountants’ Society has organised an interactive seminarto guide the members on some important issues of MVAT Audit.

Day & Date : Friday, 10th November 2006

Time : 3.30 p.m. to 7.00 p.m.

Venue : BCAS Auditorium, Jolly Bhavan No. 2,New Marine Lines, Mumbai-400020.

Fees : Rs.350 per participant (including course material,snacks and contribution to BCAS Foundation : Rs.20)

Faculty : Govind Goyal, Deepak Thakkar, Rajat TalatiChartered Accountants


Note : 1. Only 100 members will be admitted on first-come-first-served basis.2. Participants are requested to send their queries in advance

to the Knowledge Manager, BCAS.


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� Chairman : Pinakin DesaiCo-Chairman : Rajan VoraConvenors : Ameet Patel

Saroj ManiarMayur Desai

Panel discussion onRecent Tax Controversies

The Taxation Committee announces a half-day Panel Discussion wherefour experts will give their views on a few recent Tax controversiesenlisted to them by the Committee. The details are as under :

Day & Date Saturday, 4th November 2006

Time 9.30 a.m. to 1.30 p.m.

Venue M. C. Ghia Hall

Panelists Dr. K. Shivaram and Hiro Rai, AdvocatesHitesh Gajaria and Pranav Sayta, CAs

Topics for ➠ Tax implications for the co-operative societydiscussion and the members, consequent upon demolition[subject to and reconstruction of existing building andavailability use of TDR entitlement.

➠ Tax implications for a real estate developerfirm converted to a company; certain issuesconnected with Section 80IB(10) deduction.

➠ Characterisation of income from Investment/PMS; Re-opening of assessment and interestu/s.234B.

➠ Deductibility of business expense on software,Keyman insurance and FCCB issue.

➠ Tax implications in the assessment of anIndian Company in relation to outboundinvestments and Indian Firm.

➠ Applicability of TDS provisions on selectedtransactions and impact of Section 40(a)(i)/40(a)(ia) of the Act.

Fees Rs.350 per head (including tea, brunch andcontribution to BCAS Foundation — Rs.20)

Due to space constraints, enrolment would be restricted to 125 on afirst-come-first-served basis.


of time] BCAS Publications for sale

Name of Publication Price PostageRs. Rs.

Harmful Tax Competition— An Emerging Global Issue 100 25

Accrual System of Accounting — A Study 130 50

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

ICAI Elections to the Central CouncilDecember 2006

‘Meet the Candidates’ ProgrammeBCAS is pleased to announce a programne to ‘Meet theCandidates’ to enable members to interact and meet thecandidates from the Western India region who are contestingthe Central Council Elections on 15-16 December 2006. Theabove programme will be held on Wednesday, 6 December2006 from 6.00 p.m. to 8.00 p.m. at Walchand Hirachand Hall,IMC, Mumbai.

At the said programme, all candidates contesting for the CentralCouncil from the Western Region will be invited and given achance to interact and air their views on some specific issuesto be raised at the meeting. This will enable all of us to selectthe correct person in whose favour our valuable vote can be cast.

Please attend the above programme in large numbers.

The CBDT has issued a Circular No. 9/2006, dated October 10,2006, for clarifying certain issues arising out of new procedureprescribed for electronic filing of income tax returns for corporateassessees.

The said circular can be downloaded from our website viz.www.bcasonline.org

E-filing of returns


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Full-Day Seminar on

Co-operative Housing SocietiesCo-operative Housing Society is the most popular form of housing incities like Mumbai. However, in view of recent changes in law, bothGeneral and Tax laws, office bearers and Managing Committees ofCo-operative Housing Societies have been facing many difficulties incomplying with the requirements of the law. With the increase in thenumber of Co-operative Housing Societies and the recent changes inthe law, it is pertinent to be abreast with the changes and their impacton the working and management of Co-operative Housing Societiesas well as the governance and implementation of the law.

Day, Date & Time : Saturday, 11th November 2006, 9.00 a.m. to 5.00 p.m.

Venue : B. N. Vaidya Sabhagriha, 2nd floor, Indian Education Society, (King George School), 6th Lane,Lakhamshi Nappu Road, Hindu Colony, Dadar (E), Mumbai-400014.

Fees : Rs.300 including study material, tea, snacks and working lunch

Subject Speaker

1. Maharashtra Co-operative Societies Act — Important Provisions Shri M. R. Deshpande, Advocate

2. Model Bye-laws and Practical Problems Shri Vinod Sampat, Advocate

3. Documents : (i) Transfer of Flats and other Premises, (ii) Conveyance and/or other Shri Markand Gandhi,documents for Transfer of Land and Building in favour of the Society Advocate & Solicitor

4. Accounts and Audit (including maintenance of accounts and records) Ashok Dhere, CA

5. Income Tax Law : (including Taxation of Transfer Fees, Concept of Mutuality, and T.D.S.) Vimal Punamiya, CA

6. Service Tax, Sales Tax and Works Contract Tax including TDS Sunil Gabhawalla, CA

Enrolment Form for Full-Day Seminar on Co-operative Housing Societieson 11th November 2006

Name of Member ................................................................................................................................................................................................................

Profession : Advocate/Chartered Accountant/Tax Practitioner (Strike out whichever is not applicable) ..................................................................

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

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

Tel. No. : (Office) ....................................... (Residence) ...................................... Fax : ................................... E-mail : ......................................

Mobile No. : ................................................

Cheque/DD No. ........................................................................ drawn on ............................................................................................................. Bank

dated ................................................ for Rs. ................................................................................................................................. is enclosed herewith.

SignatureN.B. : Cheque/Demand Draft be drawn in favour of “Bombay Chartered Accountants’ Society”

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

Anup ShahSunil Gabhawalla

With a view to meet the need of the circumstances and to help themanagement of Housing Societies, Bombay Chartered Accountants’Society, jointly with All India Federation of Tax Practitioners (WesternZone), The Chamber of Tax Consultants, The Sales Tax Practitioners’Association of Maharashtra and WIRC of The Institute of CharteredAccountants of India has organised a full-day Seminar on ‘Co-operativeHousing Societies’ for the benefit of office bearers and members ofthe Managing Committees of Co-operative Housing Societies and alsoprofessionals like Chartered Accountants and Advocates who arerendering services to Co-operative Housing Societies.

Office bearers of Co-operative Housing Societies are providingvoluntary services to their societies. The delegate fees for the Seminarhave been kept at the minimum and very low, so that maximumnumber of such office-bearers would be able to take the benefit ofthe Seminar. Enrolment is limited to 400 delegates on first-come-firstserved basis. Therefore, persons interested are requested to enrolthemselves at the earliest so as to avoid disappointment. The detailsof the Seminar are as under :


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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 Gandhias 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.

The dates are Saturdays, 28th Oct., 11th and 25th Nov. 2006

Right to Information Clinic

Accounts & Audit ClinicThe next Accounts & Audit Clinic will be held on Saturday,4th November 2006, from 10.30 a.m. to 11.30 a.m. in thelibrary room of the BCA Society at New Marine Lines.

Persons interested in having their queries solved are requestedto call the Society’s office (Mr. Rajaram on extension 13) andobtain a prior appointment, a day before the day of the Clinic.

Panel of Advisors :

Harish Motiwalla,Himanshu Kishnadwala and

Jayesh Gandhi

The next Charitable Trust Clinic will be held on Friday, 3rdNovember 2006, 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

Charitable Trust Clinic

The BCAS ClinicsContributed by

Gaurang Gandhi

The Reserve Bank of India has issued the following 3 circulars :

A.P. (DIR Series) Circular No. 7, dated September 25, 2006

Exim Bank’s Line of Credit of US $ 17 million to the Governmentof Niger

The Exim Bank has made available, subject to certain terms andconditions, a Line of Credit up to an aggregate of US $ 17 millionto the Government of Niger. The credit is available for financing exportfrom India of goods and services which are eligible for export underthe Foreign Trade Policy of the Government of India.

The utilisation period will expire at the end of 48 months from thescheduled completion date of contract in case of project exports andFebruary 7, 2012 (72 months from the date of execution of the CreditAgreement) in case of supply contracts.

A.P. (DIR Series) Circular No. 8, dated September 25, 2006

Exim Bank’s Line of Credit of USD 10 million to the Governmentof Mauritius

The Exim Bank has made available, subject to certain terms andconditions, a Line of Credit up to an aggregate of US $ 10 millionto the Government of Mauritius. The credit is available for financingexport from India of equipment, goods and services which are eligiblefor export under the Foreign Trade Policy of the Government of Indiafor construction of Baie du Tombeau Sewerage Project in Mauritius.

The terminal date for opening the Letters of Credit is August 10, 2008and the terminal date for disbursement of credit is February 10, 2009.

A.P. (DIR Series) Circular No. 9, dated October 6, 2006

Exim Bank’s Line of Credit of USD 30.97 million to theGovernment of Burkina Faso

The Exim Bank has made available, subject to certain terms andconditions, a Line of Credit up to an aggregate of US $ 30.97 millionto the Government of Burkina Faso. The credit is available forfinancing export from India of equipment, goods and services, includingconsultancy services for agricultural projects (US $ 30 million) whichare eligible for export under the Foreign Trade Policy of theGovernment of India to Burkina Faso and construction of a nationalpost office (US $ 0.97 million).

The utilisation period will expire at the end of 48 months from thescheduled completion date of contract/s in case of project exports andOctober 10, 2012 (72 months from the date of execution of the CreditAgreement) in case of supply contracts.

One that desires to excel should endeavour it in

those things that are in themselves most excellent.— Epictetus


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A chat that changed my lifeGod : Hello. You called me ?

I, Me, Myself : Called you ? No, who is this ?

God : This is God. I heard your prayers. So I thought I will chat withyou.

IMM : Sure, I pray. Just makes me feel good. Actually, am busy now.In the midst of something, you know.

God : What are you busy with? Ants are busy, too.

IMM : Don’t know. But I can’t find free time. Life has become hectic.It’s rush hour all the time.

God : Sure. Activity gets you busy. But productivity gets you results.Activity consumes time. Productivity frees it.

IMM : But I still can’t figure it out. By the way, I was not expectingYOU to buzz me on instant messaging chat.

God : Well, I wanted to help you resolve your fight for time by givingyou some clarity. I wanted to reach you through the medium you arecomfortable with.

IMM : Tell me, why has life become so complicated ?

God : Stop analysing life. Just live it. Analysis is what makes itcomplicated.

IMM : Why are we then constantly unhappy ?

God : Your today is the tomorrow that you worried about yesterday.You are worrying because the act of worrying has become a habit.That’s why you are not happy.

IMM : But how can we not worry when there is so much uncertainty ?

God : Uncertainty is inevitable, but worrying is optional.

IMM : But then there is so much pain due to uncertainty.

God : Pain is inevitable, but suffering is optional.

IMM : If suffering is optional, why do good people always suffer ?

God : Diamonds cannot be polished without friction. Gold cannot bepurified without fire. Good people go through trials. With thatexperience their life becomes better, not bitter.

IMM : You mean to say such experience is useful ?

God : Yes. Experience is a hard teacher, though. She gives the testfirst and the lessons afterwards.

IMM : But still, why should we go through such tests ? Why can’t webe free from problems ?

God : Problems are purposeful roadblocks offering beneficial lessonsto enhance mental strength. Inner strength comes from struggle andendurance, not when you are free from problems.

IMM : Frankly in the midst of so many problems, we don’t know wherewe are heading.

God : If you look outside, you will not know where you are heading.Look inside. Looking outside, you dream. Looking inside, you awaken.Eyes provide sight. Heart provides insight.

IMM : Sometimes not succeeding fast seems to hurt more than movingin the right direction.

God : Success is relative, quantified by others. Satisfaction is absolute,quantified by you. Knowing the road ahead is more satisfying thanknowing you rode ahead.

IMM : Sometimes I ask, who am I, why am I here ? I don’t know theanswers.

God : Seek not to find who you are, but to determine who you wantto be. Stop looking for a purpose as to why you are here. Createit. Life is not a process of discovery but a process of creation.

IMM : How can I get the best out of life ?

God : Face your past without regret. Handle your present withconfidence. Prepare for the future without fear.

IMM : Sometimes my prayers are not answered.

God : There are no unanswered prayers. At times the answer is NO.

IMM : Thank you for this wonderful chat. I’ll try to be less fearful.

God : Keep the faith and drop the fear. Life is a mystery to solve,not a problem to resolve. Life is wonderful if you know how to live.

Mindspeak Contributed by :Tarunkumar Singhal, C.A.

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 :In view of the new format of E-Returns,

should the due date for filingcorporate returns be extended ?

Yes No Can’t say

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

The result of the last poll is as under :Are the proposed guidelines for distinguishing

between business and investment activity highlysubjective and therefore likely to be a source

of harassment to taxpayers ?

Yes : 90% No : 5% Can’t say : 5%


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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 cheque/DD.

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

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PROGRAMME :

Computer Training Programme for 9 to 12-1-2007 Rs.3000 .............Senior Chartered Accountants 13-1-2007

15 to 19-1-200720-1-2007

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.

STUDY CIRCLE :

Panel discussion on Recent Tax Controversies 4-11-2006 Rs.350 ...............

SEMINAR :

MVAT Audit — Some important issues 10-11-2006 Rs.350 ...................

Recent additions to the BCAS Library

Sr. No. Title Author Edition

1 Income Tax Law ........................................................................................... Chaturvedi & Pithisaria 5th Edition

2 Cases in Business Ethics ........................................................................... David J. Sharp 20063 Practical Tax & Investment Planning ......................................................... Mukesh M. Patel 20064 Guide to Fringe Benefit Tax ....................................................................... Taxmann 2006

5 Software Valuation ........................................................................................ Dr. Vishnu Kanhere June 20056 Contemporary Bank Audit ............................................................................ Nitant P. Trilokekar 1st Ed., 20067 Valuation Measuring and Managing the Value of Companies ............... Tom Copeland 3rd Ed., 2000

Tim KollerJack Murrin

We wish all ourmembers,

subscribers,readers,

advertisersand well-wishersa happy Diwali

and a prosperous New Year