sivakasi branch of sirc of icaisbsirc.in/wp-content/uploads/2019/02/newsletter... · sivakasi...
TRANSCRIPT
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
1 For Private Circulation Only
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
2 For Private Circulation Only
Dear Members,
I am pleased to inform that our Sivakasi Branch of SIRC of ICAI has won the Best
Branch Award for the year 2018 (under Micro Category) and our Sivakasi Branch of
SICASA has won the Best SICASA Branch Award for the year 2018 (under Medium
Category) at National Level.
At this juncture, with folded hands, I thank all the Founder Chairman, all the Past Chairmen,
members, students and the branch staff for the tremendous support rendered throughout the
year. Special thanks to my Managing Committee Team who have guided me through and
was standing like pillars of support for entire activities carried out at the Branch. I thank the
Central Council Members and Regional Council Members for their support. I thank all the
speakers for various programmes.
This is the last communication by me as a Chairman of the active Sivakasi Branch. I have
cherished the entire journey which was truly enriching. I thank my family members who
gave all the support and encouragement to accept this position and serve our Alma Mater
ICAI.
I wish the incoming team under the Chairmanship of CA.S.Palanichamy a great success.
Regards, CA.M.Rajapandian, Chairman – SBSIRC.
CHAIRMAN’S MESSAGE
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
3 For Private Circulation Only
Dear members,
Warm greetings to all. A proud moment to Our Sivakasi branch for the second
time, our branch has been awarded the Best branch of Regional Council (Micro
Category) and Best branch of Students Association (Medium Category). On 4 th
February 2019, our Committee Members and SICASA members attended ICAI’s
Platinum Jubilee Annual Function in Hotel Asok, Delhi and received the valuable
Awards. It’s true that every small step taken, paves way for the greatest
achievement. I congratulate all our members, students and branch staffs who
have taken those steps. Wish our branch continue to achieve great things in the
upcoming years also.
The first time our budget has been pronounced by a Chartered Accountant. The
budget has been structured excellently. It has given many benefits to the
farmers and average income earning people. UDIN has been made mandatory
by ICAI for all the certif icates signed and issued by the CA. Kindly note that and
follow the provision.
.
With Regards,
CA.K.Giridhar
Secretary –SBSIRC
SECRETARY’S MESSAGE
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
4 For Private Circulation Only
Dear Members, you are all knew that our Branch has got both Best Branch and SICASA
awards National Level in a consecutive years. It’s a remarkable achievement of our team
work. I praying the almighty to shower the same in the coming years too. The new
Management Committee members seek your love and affection in the coming years also to
achieve the milestone. During the month of January 2019 we have conducted as usual two
cpe meeting with support of you all and large number of members attends the meeting and
made grand success. Hereby I would like to extend my hearty congratulations to those who
have passed in CPT, Foundation and Final exam.
Regards,
CA.P.Selvaraj,
CPE Chairman – SBSIRC
EDITOR’S MESSAGE
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
5 For Private Circulation Only
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
6 For Private Circulation Only
Excel Tips -CA Dungar Chand U Jain
RANK Function
RANK function is used to compare numbers to other numbers in the same list. If we give the RANK function a number, and a list of numbers, it will tell us the rank of that number in the list, either in ascending or descending order. In other words, it returns the rank of a number in a list of numbers. The rank of a number is its size relative to other values in a list. If we were to sort the list, the rank of the number would be its position.
Syntax
RANK(number,ref,[order])
The RANK function syntax has the following arguments:
Number Required. The number whose rank you want to find. Ref Required. An array of, or a reference to, a list of numbers. Nonnumeric
values in ref are ignored. Order Optional. A number specifying how to rank number.
If order is 0 (zero) or omitted, Microsoft Excel ranks number as if ref were a list sorted in descending order.
If order is any nonzero value, Microsoft Excel ranks number as if ref were a list sorted in ascending order.
Note :
RANK gives duplicate numbers the same rank. However, the presence of duplicate numbers affects the ranks of subsequent numbers.
EXCEL TIPS
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
7 For Private Circulation Only
For example, in a list of integers sorted in ascending order, if a number appears twice and has a rank of 4, then it would return a rank of 4 (no number would have a rank of 5).
Example 1 :
There are 3 arguments for the RANK function:
number: in the above example, the number to rank is in cell (i)A3 & (ii)A2
ref: We want to compare the number to the list of numbers in cells A2:A6. However it is advisable to use an absolute reference ($A$2:$A$6), instead of a relative reference (A2:A6)so the referenced range will stay the same when we copy the formula down to the cells below.
order: (optional) This argument tells Excel whether to rank the list in ascending or descending order.
o Use zero, or leave this argument empty, to find the rank in the list in descending order. In the example above, the order argument was left blank, to find the rank in descending order. =RANK(A3,$A$2:$A$6)
o For ascending order, type a 1, or any other number except zero. If we are comparing scores, we need to type a 1, to rank in ascending order. =RANK(A3,$A$2:$A$6,1)
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
8 For Private Circulation Only
Example 2 : Rank
In the above example, =RANK(C3,$C$3:$C$33,0) gives the ranking of data in the cell C3 amongst the data in the range C3:C33. Absolute reference is givinh by inserting $ Sybmols so that when copies the range do not change i.e. C$3:$C$33 The last parameter is to tell the order. If we want the Ranking in Descending order (Smaller to Bigger) we need use 0 and if we need it in Ascending (Bigger to Smaller) use a 1.
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
9 For Private Circulation Only
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
10 For Private Circulation Only
CA B Sweety Sharma Chartered Accountant, Sivakasi
Meaning An Electoral Bond is designed to be a bearer instrument like a Promissory Note for
making donations to political party It is payable to the bearer on demand No interest is payable on the bond
It shall not carry the name of the buyer or payee
Issued by whom: State Bank of India (SBI) has been authorised to issue and encash Electoral Bonds at specified Branches Eligibility for purchase and encashment: It can be purchased by any citizen of India or a body incorporated in India. A person being an individual can buy bonds, either singly or jointly with other
individuals. Only the political parties registered under section 29A of the Representation of the
People Act, 1951 (43 of 1951) and secured not less than 1% of the votes polled in the last general election to the House of the People or the Legislative Assembly, as the case may be, shall be eligible to receive the bond.
The bond shall be encashed by an eligible political party only through a bank account with the authorised bank.
Denomination: The bonds will be issued in multiples of Rs.1,000, Rs.10,000, Rs.1 lakh, Rs.10 lakh and Rs.1 crore and will be available at specified branches of State Bank of India. Know Your Customer Norms: Know Your Customer norms of a bank’s customer shall apply for buyers of the bonds. The authorised bank may call for any additional Know Your Customer documents, if it
deems necessary.
Periodicity for issue of Bonds: The bonds under this Scheme shall be available for purchase by any person for a period
of ten days each in the months of January, April, July and October as may be specified by the Central Government.
ELECTORAL BONDS
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
11 For Private Circulation Only
An additional period of thirty days shall be specified by the Central Government in the year of general elections to the House of People.
Validity of the Bonds: The bond shall be valid for fifteen days from the date of issue and no payment shall be
made to any payee political party if the bond is deposited after expiry of the validity period.
The bond deposited by any political party to its account shall be credited on the same day.
The amount of bonds not encashed within the validity period of fifteen days shall be deposited by the authorised bank to the Prime Minister Relief Fund.
Payment for Bonds: All payments for the issuance of the bond shall be accepted in Indian rupees, through
demand draft or cheque or through Electronic Clearing System or direct debit to the buyer’s account.
Where payment is made through cheque or demand draft, the same shall be drawn in favour of the issuing bank at the place of issue
Trading of bonds: The bonds are not eligible for trading Procedure for making application for purchase of bonds: Every buyer desirous of purchasing bond can apply with a physical or through online
application in the format specified Every application shall be accompanied with the specified documents. On receipt of an application, the issuing branch shall issue the requisite bond, if all the
requirements are fulfilled. The information furnished by the buyer shall be treated confidential by the authorised
bank and shall not be disclosed to any authority for any purposes A non KYC compliant application or an application not meeting the requirements of the
scheme shall be rejected. The bond shall be issued to the buyer on non-refundable basis in Physical Form.
Tax treatment: The donor will get a Tax Deduction and for the recipient, the face value of the bonds shall be counted as income by way of voluntary contributions received by an eligible political party, for the purpose of exemption from Income-tax under section 13A of the Income Tax Act, 1961. Loans against Electoral Bonds: Not Permitted Limit of Investment: No Limit
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
12 For Private Circulation Only
CA K Chitra Chartered Accountant, Sivakasi
S. No. Details Details
1 Governing Rules Companies (Acceptance of Deposits),
Amendment Rules, 2019, notified on 22.01.2019
2 Applicability Every company other than Government
company (includes private, public, opc, small, dormant)
3 Frequency of return One time return
4 Due Date 90 days from the date of publication of the rule
• Date of publication of rule: 22.01.2019 • Due Date of filing the form: 22.04.2019
5 Applicable Form Form DPT 3 of MCA - Return of Deposit or
Particulars of Transaction not considered as Deposit or Both
6 Fee for filing As per Companies (Registration Offices and
Fees Rules, 2014). Fees varies from 200 to 600 – based on the Paid up Share Capital of the Company
7 Loans to be covered Outstanding receipt of money or loan by a
Company not considered as deposits. All loans received – secured, unsecured, ecb, loans from holding, subsidiary or associate companies
8 Information period • Loan / Money between 01.04.2014 to 22.01.2019.
• The outstanding amount as on 22.01.2019
to be reported
• If a loan is received before April 2014 and outstanding as on 22.01.2019, the same is to be covered • If a loan is received after April 2014 and repaid before 22.01.2019, the same need not be reported
FILING OF FORM DPT 3
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
13 For Private Circulation Only
6 Hrs CPE on “Benami Transactions (Prohibition) Act, 1988 &The Prevention of Money Laundering Act, 2002”
EVENTS - January 2019
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
14 For Private Circulation Only
3 Hrs CPE on “Interesting case laws under Income Tax Act, 1961 ”
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
15 For Private Circulation Only
“Pongal Celebration 2019”
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
16 For Private Circulation Only
“Republic Day Celebration 2019”
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
17 For Private Circulation Only
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
18 For Private Circulation Only
Special Examination for Members of Foreign Accounting Bodies with whom the
ICAI had entered into Mutual Recognition Agreement (MRA) / Memorandum of
Understanding (MoU) - https://resource.cdn.icai.org/53880exam43268.pdf
3 Hrs CPE Workshop on “Interim Budget 2019” – 09.02.2019
8th Installation Function
Investor Awareness Program
3 Hrs CPE Workshop on “GST Updates”
6 Hrs CPE Seminar
FORTHCOMING EVENTS
Announcement
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
19 For Private Circulation Only
Sivakasi Branch of SIRC of ICAI Newsletter February 2019
20 For Private Circulation Only