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The Institute of Chartered Accountants of India VASAI BRANCH of WIRC NEWSLETTER 1Winner of Highly Commendable Performance Award 2010 in Large Branch Category from WIRC

August 2011

` 15/- For Members Only

MANAGINGCOMMITTEE FROM CHAIRMAN’S DESK

The Institute of Chartered Accountants of India

VASAI BRANCH OF WIRCNEWSLETTER

Chairman CA. Unmesh Narvekar 9821236179

Vice Chairperson CA. Shweta Jain 9920737198

Secretary CA. Ramanand Gupta 9322231113

Treasurer CA. Kishor Vaishnav 9892194382

Past Chairman CA. Lalit Bajaj 9867692321

Past Chairman CA. Pramod Dhamankar 9987155522

WIRC Nominee CA. Anil Bhandari 9821037605

Chief Editor CA. Unmesh Narvekar 9821236179

Editor CA. Kishor Vaishnav 9892194382

Members CA. Lalit Munoyat 9820193508

CA. Haresh Mehta 9823137477

CA. Sanjit Rana 9820848887

CA. Mehmood Lilani 9820627815

CA. Aniket Padhye 9922063800

EDITORIALBOARD

SucceSS iS the combination of thoughtS, WordS & actionS

Visit www.vasai-icai.org

AuguST, 2011

Dear Members,The refreshing monsoon season has spread the gist of greenery all around us and it had been indeed a special occasion of the CA day on the 1st July. This special day was celebrated by hoisting our CA flag by Mira Bhyander corporator Mr. Dhruvakishore Patil admists our members and students. It was indeed a feeling of pride and honour when our flag swayed with full vigour and style just reminding us to uphold this noble profession with great dignity and enthusiasm. On this important day a CA Career Counseling

Programme was also undertaken to put a flash on this highly renowned profession amoung the various college students.The Mega event of CA Students’ WIRC Sub-Regional Conference held on the 2nd and 3rd July 2011 was a grand success. Our special thanks to Honourable Vice President of ICAI CA Jaydeep Shah for his gracious presence for inauguration of this conference & addressing the students. Branch took this opportunity to honour him. The Past President of ICAI CA Kamlesh Vikamsey added a flavour by accepting our request to guide the students by his virtuous experience. The students were overwhelmed by the effective speeches by CA C. S. Nanda (CCM) and CA V. Murali (CCM). The special session by the Director of BOS Shri.Vijay Kapur gave a detailed insight about the BOS functioning and various student related issues. A remarkable attendance of about 450 students made it a milestone event for Vasai branch. The whole hearted participation by the students and the topics on which the students paper presenters spoke were vibrant and knowledge worthy. The students showed a fearless approach during their stage appearances which was quiet appreciating. Our hearty congratulations to best paper writers for their remarkable performances. Here I also take the opportunity to thank CA Shriniwas Joshi (Chairman-WIRC) and CA Neel Majithia (Chairman-WICASA) for their timely guidance and support to our branch during this mega event. I forward a heartfelt thanks to CA Uttam Prakash Agarwal (Past President ICAI), CA Bhavna Doshi (CCM), CA Sanjeev Maheshwari (CCM), CA Jay Chhaira (RCM), CA Durgesh Kabra (RCM) and all other the dignitaries who by addressing various sessions added a special glow to this event. Last but not the least an earnest thanks to my entire crew of the Vasai branch committee & WICASA team who worked effortlessly to make this event a great success.The quiz and elocution competition organized by the branch on the 24th July, got good response in which students once again proved their talents and intellects. My hearty congratulations to all the winners and best wishes to them for their Regional level competition.The Annual General Meeting of the branch was held on the 27th July. The Annual Performance & Financial reports as on 31st March 2011 of the branch were presented to members. The members appreciated the present performance & progress of the branch. I hereby take the opportunity to announce the inauguration of the first GMCS course of Vasai branch on the 5th of August, 2011. It is indeed a pride occasion and dream come true for our branch as we were planning for this GMCS course since many years. The great news is that the first batch is of 50 students and is to the fullest of its capacity. The forthcoming events in August include some important events like the Intensive Course on Company Law beginning from 16th of August covering 5 sessions and have 15 hours of CPE. Keeping in mind the forthcoming Audits season & to update you all a full day seminar is organised on the 21st of August on Tax Audit to be addressed by eminent speakers. Members are requested to take full advantage of these forthcoming programmes. Just to remind you that the last date for submission of MEF 2011-12 is 27th August 2011.I also forward my wishes to one and all on the auspicious occasion of the Independence Day of our country on the 15th of August. It’s a memorable day for every Indian on this earth. Let us celebrate this day by remembering the true freedom fighters who were the heroes of achieving freedom and lets pay our genuine homage to them. Remember We Owe A Lot To Our Motherland !!!Vande Mataram!!With warm regards

CA Unmesh NarvekarChairman

CA

OMMITTED

CHIVEMENTS

for

2The Institute of Chartered Accountants of India

VASAI BRANCH of WIRC NEWSLETTERWinner of Highly Commendable Performance Award 2010 in Large Branch Category from WIRC

August 2011

DATE SEMINAR ON TIMINGS VENUE SPEAKER CO-ORDINATORS fEES CPE16,18, 20, Intensive Study 6.00 p.m. to Reliable Classes CA Vijay Joshi CA Ramanand Gupta 1500/- 15 25, 26 Course 9.00 p.m. D/Wing Shanti Shopping CA Arjun Saini - 9322231113 Hrs. Aug.2011 on Company Law Centre, Mira Road (E) CS Kaushik Jhaveri CA Pramod Dhamankar CA Yagnesh Desai - 9987155522, CA Alok Saxena CA Kishor Vaishnav -9892194382

21st August Tax Audit 9.30am to 5.30pm GCC Club, Mira road (E) CA N. C. Hegde CA Lalit Bajaj RS. 750/- 6 2011 CA Ravikant Kamat - 9867692321, Members, Hrs. CA H. N. Motiwala CA Shweta Jain RS. 650 - 9920737198 Students Rs.850 Others

17th Sept. Management 6.00 p.m. to Reliable Classes Eminent CA Ramanand Gupta 100/- 3hrs 2011 Representation 9.00 p.m. D/Wing Shanti Shopping Certificate Course Centre, Mira Road (E)

Nov-11 IRRC Eminent CA Pramod Dhamanakar 9hrs - 9987155522

FORTHCOMINg PROgRAMMES OF vASAI BRANCH

DATE : 16th AUGUST - 26th AUGUST 2011

VENUE : Reliable Classes, Mira- Road (East)Time : 6.00pm to 9.00pmFees : Rs. 1500/- per MemberCPE : 15Hrs.Co- ordinators : CA Pramod Dhamankar – 9987155522 / CA Ramanand Gupta-932221113 / CA Kishor Vaishnav - 9892194382

DAY & DATE : SUNDAY 21ST AUGUST 2011VENUE : GCC Club, Mira road, EastTime : 9.30am to 5.30pmFees : RS.750/- for Members, Rs. 650/- for Students, Rs. 850 for Others (inclusive course material, breakfast & Lunch) Co- ordinators • CA Lalit Bajaj - 9867692321 • CA Shweta Jain - 9920737198

CPE 6Hrs.

TOPICS SPEAKERS TIMINGS Important issues in TDS CA N.C.Hegde 9.30a.m. to 11.00 am. Tea Break 11.00 am to 11.30am.Recent Judicial Pronouncement( Relevant for Tax Audit) CA Ravikant Kamat 11.30 am to 1.00 pm Lunch Break 1.00 pm to 2.00 pmRecent Issues in Tax Audit including 44AD CA H.N.Motiwala 2.00 pm to 3.30 pm Tea Break 3.30 pm to 4.00pmRecent Issues in Tax Audit including 44AD CA H.N.Motiwala 4.00 pm to 5.30pm

DATE TOPICS SPEAKERS16th August 2011 Revised Schedule VI CA Vijay Joshi- 982021375418th August 2011 XBRL New Reporting Language CA Arjun Saini - 932216808520th August 2011 Updates on various issues in E-filing &online incorporation under companies Act CS. Kaushik Jhaveri - 982103451125th August 2011 First time Adoption of IFRS & impact on Balance sheet CA Yagnesh Desai-932224477026th August 2011 Law relating to NBFC & CLSS CA Alok Saxena - 9820136693

SEMINAR ON ISSuES IN TAX AuDIT

INTENSIVE STuDY COuRSE ON COMPANY LAW


August 2011

SECTION 119 OF THE INCOME TAX ACT, 1961 – INSTRUCTIONS TO SUBORDINATE AUTHORITIES – ISSUANCE OF TDS CERTIFICATES IN FORM 16A DOWNLOADED FROM TIN WEBSITE AND OPTION TO AUTHENTICATE THE SAME BY WAY OF DIGITAL SIGNATURE {199 TAXMANN 3 (ST.)}Circular No. 3/2011 [F. No. 275/34/2011-(IT-B), Dated 13-5-2011A common link has now been created between the TDS certificate in Form No. 16A and Form No. 26AS through a facility in the Tax Information Network website (TIN Website) which will enable a deductor to download TDS certificate in Form No. 16A from the TIN Website based on the figures reported in e-TDS statement filed by him. As both Form No. 16A and Form No. 26AS will be generated on the basis of figures reported by the deductor in the e-TDS statement filed, the likelihood of mismatch between Form No. 16A and Form No. 26AS will be completely eliminated. In view of the above, for proper administration of the Act, the Board have, in exercise of powers under section 119 of the Act, decided the following :–Issue of TDS Certificate in Form No. 16A :–(i) For deduction of tax at source made on or after 1-4-2011:

(a) The deductor, being a company including a banking company to which the Banking Regulation Act, 1949 applies and any bank or banking institution, referred to in section 51 of that Act or a cooperative society engaged in carrying the business of banking, shall issue TDS certificate in Form No. 16A generated through TIN central system and which is downloaded from the TIN Website with a unique TDS certificate number in respect of all sums deducted on or after the 1st day of April, 2011 under any of the provisions of Chapter-XVII-B other than section 192.

(b) The deductor, being a person other than the person referred to in item (a) above, may, at his option, issue TDS Certificate in Form No.16A generated through TIN central system and which is downloaded from the TIN Website with a unique TDS certificate number in respect of all sums deducted on or after the 1st day of April, 2011 under any provisions of Chapter-XVII-B other than section 192.

(ii) For deduction of tax at source made during financial year 2010-11: The deductor, may, at his option, issue the TDS certificate in Form No.

16A generated through TIN central system which is downloaded from the TIN Website with a unique TDS certificate number in respect of all sums deducted during the financial year 2010-11 under any of the provisions of Chapter- XVII-B other than section 192.

Authentication of TDS Certificate in Form No. 16A :–1. The deductor, issuing the TDS certificate in Form No. 16A by

downloading from the TIN Website shall authenticate such TDS certificate by either using digital signature or manual signature.

2. The deductor being a person other than a person referred to in item (i)(a) above and who do not issue the TDS Certificate in Form No. 16A by downloading from the TIN Website shall continue to authenticate TDS certificate in Form No. 16A by manual signature only.

It is further clarified that TDS certificate issued in Form No. 16A by the deductors covered by para (i)(a) in accordance with this circular and procedure, format and standards specified by the Director General of Income-tax (Systems) shall only be treated as a valid TDS certificate in Form No. 16A for the purpose of section 203 of the Act read with Rule 31 of the IT Rules, 1962.

AMENDMENT IN RULE 114B OF THE INCOME TAX RULES, 1962 - INCOME-TAX (FIFTH AMENDMENT) RULES, 2011 {199 TAXMANN 81 (ST.)}Notification No. 27/2011 [F. No. 149/122/2010-So(Tpl)]/S.O. 1214(E), Dated 26-5-2011The Central Board of Direct Taxes has amended the Rule 114B w.e.f. 1st day of July, 2011 for quoting the PAN in documents pertaining to specified transaction as follows:-1. In the Explanation (a), in clause (k), for the words “tour operator” the

words “tour operator, or to an authorized person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999)” shall be substituted.

2. In clause (l) for the words “for issue of a credit card” the words “for issue of a credit or debit card” shall be substituted.

3. After clause (p) and before the first proviso, the following clauses shall be inserted, namely :—

“(q) payment of an amount aggregating fifty thousand rupees or more in a year as life insurance premium to an insurer as defined in clause

DIRECT TAX - LAW uPDATES BY CA. Haresh P. Kenia

(9) of section 2 of the Insurance Act, 1938 (4 of 1938);

(r) payment to a dealer,—(i) of an amount of five lakh

rupees or more at any one time; or

(ii) against a bill for an amount of five lakh rupees or more, for purchase of bullion or jewellery;”.

SECTION 260A OF THE INCOME TAX ACT – APPEAL TO HIGH COURT – INSTRUCTIONS REGARDING STANDARD OPERATRING PROCEDURE ON FILING OF DEPARTMENTAL APPEALS TO HIGH COURT {199 TAXMANN 26 (ST.)} Notification No. 7/2011 [F.No. 279/Misc/M-42/2011-Itj], Dtd 24-5-2011A detailed instruction has been issued on the above matter which is available at the aforesaid citation.

SECTION 139 OF THE INCOME TAX ACT – RETURN OF INCOME - EXEMPTION TO SPECIFIED PERSONS FROM REQUIREMENT OF FURNISHING A RETURN OF INCOME UNDER SECTION 139(1) FOR ASSESSMENT YEAR 2011-12Notification No. 36/2011 [F. No. 142/09/2011(Tpl)] / So 1439(E), Dated 23-6-2011The Central Government has exempted the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income u/s 139(1) for the assessment year 2011-12, namely :–Class of Persons1. An Individual whose total income for the relevant assessment year

does not exceed five lakh rupees and consists of only income chargeable to income-tax under the following head,—(A) “Salaries”;(B) “Income from other sources”, by way of interest from a savings

account in a bank, not exceeding ten thousand rupees.Conditions2. The individual referred to in para 1,—

(i) has reported to his employer his Permanent Account Number (PAN);

(ii) has reported to his employer, the incomes mentioned in sub-para (B) of para 1 and the employer has deducted the tax thereon;

(iii) has received a certificate of tax deduction in Form 16 from his employer which mentions the PAN, details of income and the tax deducted at source and deposited to the credit of the Central Government;

(iv) has discharged his total tax liability for the assessment year through tax deduction at source and its deposit by the employer to the Central Government;

(v) has no claim of refund of taxes due to him for the income of the assessment year; and

(vi) has received salary from only one employer for the assessment year.

3. The exemption from the requirement of furnishing a return of income-tax shall not be available where a notice under section 142(1) or section 148 or section 153A or section 153C of the Income-tax Act has been issued for filing a return of income for the relevant assessment year.

4. This notification shall come into force from the date of its publication in the Official Gazette

SECTION 48 EXPLANATION (v) OF THE ONCOME TAX ACT – COMPUTATION OF CAPITAL GAINS – NOTIFIED COST INFLATION INDEX FOR FINANCIAL YEAR 2011-12 Notification No. 35/2011 [F. No. 142/5/2011-Tpl]/So 1438(E), Dt 23-6-2011The cost inflation index notified for the financial year 2011-12 for computation of capital gains is 785

qq



August 2011

LAW uPDATES*Central Board of Excise and Customs has notified new form ER-1 and form ER-3. The Central Board of Excise and Customs has notified new Form ER-1 and Form ER-3. Form ER-1 is the monthly return for production and removal of goods and other relevant particulars and CENVAT credit. Form ER-3 is the quarterly return for production and removal of goods and other relevant particulars and CENVAT credit, by an assessee eligible to avail of the exemption under a notification based on the value of clearances in a financial year.

The new forms would be effective from 1st October, 2011

*INCOME-TAX (SIXTH AMENDMENT) RULES, 2011 - AMENDMENT IN RULE 12

NOTIfICATION NO. 37/2011 [f. NO. 149/68/2011-SO (TPL)], DATED 1-7-2011

In exercise of the powers conferred by section 295, read with section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :â€”

1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2011.

(2) They shall come into force from the date of its publication in the Official Gazette.

2. In the Income-tax Rules, 1962 in rule 12, in sub-rule (3), in the proviso, for clauses (a) and (aa) the following clause shall be substituted, namely

“(a) a firm required to furnish the return in Form ITR-5 or an individual or Hindu Undivided Family (HUF) required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable, shall furnish the return for assessment year 2011-12 and subsequent assessment years in the manner specified in clause (ii);

*CBDT Press Release on exemption from filing I-T return for persons with income up to Rs 5 lakh

The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs.5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011.

*CBDT Press Release on streamlining of scrutiny procedure for 2011-12.

Central Board of Direct Taxes has reviewed its scrutiny selection procedure. In order to redress the grievance of the taxpayers, it has been decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information.

*Date of filling of ITR-V extended to 31st July, 2011.

The Central Board of Direct Taxes has decided to extend the time limit for filing ITR-V forms relating to income tax returns for A.Y 2010 – 2011 filed electronically on or after 1st April 2010.

CPE hours requirements for various categories of members of the Institute for the Block period of 3 years (01-01-2011 to 31-12-2013)o All the members who are holding Certificate of Practice (except those members who are residing abroad), unless exempted, are required to:

a) Complete at least 90 CPE credit hours in each rolling three-year period of which 60 CPE credit hours should be of structured learning.

b) Complete minimum 20 CPE credit hours of structured learning in each year.

All the members who are not holding Certificate of Practice or are residing abroad (whether holding Certificate of Practice or not), unless exempted, are required to:

(a) Complete at least 45 CPE credit hours of structured/unstructured learning in each rolling three-year period

(b) Complete minimum 10 CPE credit hours of structured/unstructured learning in each year.

All the members (above 60 years of age) who are holding Certificate of Practice, unless exempted, are required to:

a) Complete at least 70 CPE credit hours (structured/unstructured) in each rolling three-year period.

b) Complete minimum 10 CPE credit hours of structured/ unstructured in the first year i.e. 2011

c) Complete minimum 20 CPE credit hours of structured/ unstructured in the second and third year i.e. 2012 & 2013.

All the members (above 60 years of age) who are not holding Certificate of Practice are required to:

a) Complete at least 35 CPE credit hours (structured/unstructured) in each rolling three-year period.

b) Complete minimum 5 CPE credit hours of structured/ unstructured in the first year i.e. 2011

c) Complete minimum 10 CPE credit hours of structured/ unstructured in the second and third year i.e. 2012 & 2013.

The Institute of Chartered Accountants of India VASAI BRANCH of WIRC NEWSLETTER 5

Winner of Highly Commendable Performance Award 2010 in Large Branch Category from WIRCAugust 2011

JUST FOR YOUR DESK - FROm ICAI

Regards

CA Unmesh NarvekarChairman Vasai Branch



August 2011

Rate

I) ADVISING ON DRAFTING OF DEEDS/ AGREEMENTS

(a) i) Partnership Deed Rs. 5,250/- & Above

ii) Partnership Deed (With con sultation & Tax Advisory) Rs. 7,500/- & Above

(b) Filing of Form with Registrar of Firms Rs. 2,250/- & Above Per Form

(c) Supplementary / Modification in Rs. 4,500/- & Above

Partnership Deed

II) INCOME TAX

A. Filing of Return of In come

I) For Individuals / HUFs etc.

(a) Filing of Return of Income With Salary/Other Sources/Share of Profit. Rs. 3,000/- & Above

(b) Filing of Return of Income with detailed Capital Gain working

i) Less than 10 Transactions (For Shares & Securities) Rs. 4,500/- & Above

ii) More than 10 Transactions (For Shares & Securities) Rs 7,500/- & Above

(c) Filing of Return of Income for Capital Gains on Immovable property Rs. 15,000/- & Above

(d) Filing of Return of Income with Preparation of Bank Summary, Capital A/c & Rs 5,250/- & Above

Balance Sheet.

II) (a) Partnership Firms/Sole Proprietor with Advisory services Rs. 6,000/- & Above

(b) Minor’s I. T. Statement Rs. 3,000/- & Above

(c) Private Ltd. Company:

i) Active Rs. 11,250/- & Above

ii) Defunct Rs. 5,250/- & Above

(d) Public Ltd. Company

i) Active Rs. 30,000/- & Above

ii) Defunct Rs. 11,250/- & Above

B. Filing of Forms Etc.

(a) Filing of TDS/TCS Return (per Form) (Quarterly Fees)

i) With 5 or less Entries Rs.1,500/- & Above

ii) With more than 5 Entries Rs.3,750/- & Above

(b) Filing Form No. 15 -H /G(per Set) Rs. 1,500/- & Above

(c) Form No. 49-A/ 49-B Rs. 1,500/- & Above

(d) Any other forms filed under the Income Tax Act Rs Rs. 1,500/- & Above

C. Certificate

Obtaining Certificate from Income Tax Department Rs. 6,000/- & Above

D. Filing of Appeal Etc.

(a) First Appeal.

Preparation of Statement of Facts, Grounds of Appeal, Etc. Rs. 15,000/- & Above

(b) Second Appeal (Tribunal) Rs. 30,000/- & Above

E. Assessments Etc.(a) Attending Scrutiny Assessment/ Appeal (i) Corporate See Note 1

For Metro Cities

MINIMUM RECOMMENDED SCALE OF FEES FOR THEPROFESSIONAL ASSIGNMENTS DONE BY THE CHARTERED ACCOUNTANTS



(ii) Non Corporate Rs. 15,000/- & Above(b) Attending before other Authorities Visit Rs. 4,500/- & Above Per(c) Attending for Rectifications/Refunds/ Appeal effects Etc. Rs. 3,000/- & above per Visit(d) Income Tax Survey Rs. 37,500/- & above(e) T.D.S. Survey Rs.22,500/- & above(f) Income Tax Search & Seizure See Note 1(g) Any other Consultancy See Note 1III) CHARITABLE TRUSTS(a) (i) Registration Under Local Act Rs. 11,250/- & Above (ii) Societies Registration Act Rs. 15,000/- & Above(b) Registration Under Income Tax Act. Rs. 11,250/- & Above(c) Exemption Certificate U/s. 80G of Income Tax Act. Rs. 9,000/- & Above(d) Filing Objection Memo/other Replies Rs. 4,500/- & Above(e) Filing of Change Report Rs. 4,500/- & Above(f) Filing of Annual Budget Rs. 4,500/- & Above(g) Attending before Charity Commissioner including for Attending Ob jections Rs. 3,750/- & Above per visit(h) (i) F.C.R.A. Registration Rs. 15,000/- & Above(ii) F.C.R.A. Certification Rs. 3,750/- & AboveIV) COMPANY LAW and LLP WORK(a) Filing Application for Name Approval Rs. 3,000/- & Above(b) Incorporation of a Private Limited Company/LLP Rs. 15,000/- & Above(c) Incorporation of a Public Limited Company Rs. 30,000/- & Above(d) (i) Company’s/LLP ROC Work, Preparation of Minutes,Statutory Register & Other See Note 1 Secretarial Work (ii) Certification (per Certificate) Rs. 4,500/- & Above(e) Filing Annual Return Etc. Rs. 4,500/- & Above per form(f) Filing Other Forms Like: F -32, 18, 2 etc. Rs. 1500/- & Above per form(g) Increase in Authourised Capital Filing F-5, F-23, preparation of revised Memorandum of Association/Article Rs. 11,250/- & Above of Association/ LLP Agreement (h) DPIN/DIN per Application Rs. 1500/- & Above(i) Company Law consultancy including Petition drafting See Note 1(j) Company Law representation including LL P before RD and CLB See Note 1(k) ROC Representation See Note 1V) V.A.T./ PROFESSION TAX:A. Registration Work(a) Registration Under V.A.T. & C.S.T. Corporate See Note 1 Non Corporate Rs. 7,500/- & Above(b) Profession Tax Registration (P TR) Rs. 3,000/- & Above(c) Profession Tax Enrollment (per application) Rs. 1,500/- & AboveB. Filing of Return (V.A.T.)(a) Monthly Challans with Annual Return Rs. 1,500+ (Per Month)(b) Quarterly Challans with Annual Return Rs.2,250+(Per Quart er)(c) Six Monthly Challans with Annual Return Rs. 3,000+(Per 6 Months)(d) Yearly Composition Return Rs. 4,500 & aboveC. Assessments/ Appeals.(a) Attending V.A.T./Commercial Tax Assessments Rs. 7,500/- + 3,750/- (Per Visit)




August 2011

(b) Attending V.A.T./Commercial Tax Appeals Rs. 7,500/- + Rs 4,500/- (Per visit)D. Filling of Appeal / Appeals Drafting(a) First Appeal (AC/DC) Rs. 7,500/- & Above(b) Second Appeal Rs. 11,250/- & AboveE. Miscellaneous Work.(a) Profession Tax Returns & Assessment Rs. 3,750/- & Above(b) Obtaining C/F/H Forms under V.A.T./Commercial Tax (Per Application)(i) First Time Rs. 3,000/- & Above(ii) Renewal Rs.1,500/- & AboveVI) AUDIT and OTHER ASSIGNMENTSRate per day would depend on the complexity of thework and the number of days spent by each person.(i) Principal Rs. 7500/-& Above per day(ii) Qualified Assistants Rs. 3750/-& Above per day(iii) Semi Qualified Assistants Rs. 1500/-& Above per day(iv) Other Assistants Rs. 750/-& Above per daySubject to minimum indicative Fees as under:(i) Tax Audit Rs. 18,750/- & Above(ii) Company Audit(a) Small Pvt. Ltd. Co. (Turnover up to Rs. 2 Crore) Rs. 22,500/-& Above(b) Medium Size Pvt. Ltd. Co.(Turnover b etween Rs. 37,500/- & Above 2 to 10 Crore) (c) Large Size Pvt. Ltd. Co./ Public Ltd. Co. See Note 1(iii) V.A.T. Audit Rs. 11,250/- & Above(iv) Review Of TDS Compliance Rs. 11,250/- & Above(v) Transfer Pricing Audit See Note 1VII) INVESTIGATION, MANAGEMENT SERVICES OR SPECIAL ASSIGNMENTSRate per day would depend on the complexity of thework and the number of days spent by each person.(a) Principal Rs. 15,000/-& Above + per day charge(b) Qualified Assistant Rs. 7,500/-& Above + per day charge(c) Semi Qualified Assistant Rs. 3,750/-& Above + per day chargeVIII) CERTIFICATION WORK(a) Issuing Certificates under the Income Tax Act i.e. See Note 1 U/S 80IA/ 80IB/ 10A/ 10B & other Certificates (b) Other Certificates For LIC/ Passports/ Credit Cards/ Etc. Rs. 3750/- & Above(c) Other Attestation (True Copy) Rs. 750/- per form(d) Networth Certificate for person going abroad Rs. 7,500/- & aboveIX) WEALTH TAX(a) Per Statement Rs. 7500/- & Above(b) Statement & Filing Return Rs. 10000/- & AboveX) CONSULTATION & ARBITRATION Rate per hour would depend on the complexity of the work and the number of hours spent by each person.(a) Principal Rs. 15,000/- & above (initial fees) + additional fees @ Rs 3,750/- & above per hour




(b) Qualified Assistant Rs 2,625/- & above per hour

(c) Semi Qualified Assistant Rs 1,125/- & above per hour

XI) NBFC/ RBI MATTERS

(a) NBFC Registration with RBI See Note 1

(b) Other Returns Rs. 7500/- & above

XII) SERVICE TAX

(a) Registration Rs. 7500/- & Above

(b) Registration with Consultation See Note 1

(c) Tax Advisory & Consultation i.e about value, taxability, classification etc. See Note 1

(d) Monthly Challan with Half Yearly Return Rs. 7500 & Above + (Rs.1500/-Per Month)

(e) Quarterly Challan with Half Yearly Return Rs.7500 & Above +(Rs. 2250/- Per Quarter)

(f) Adjudication Rs. 22500 & above

(g) Appeal & showcause notice drafting / reply Rs. 15,000 & above

XIII) FEMA MATTERS

1. Filing Declaration with RBI in relation to transaction by NRIs/ OCBs Rs. 15,000/- & Above

2. Obtaining Prior Permissions from RBI for transaction with NRIs/ OCBs Rs. 22500/- & Above

3. Technical Collaboration:

Advising, obtaining RBI permission, drafting and See Note 1

preparing technical collaboration agreement and incidental matters.

4. Foreign Collaboration:

Advising, obtaining RBI permission, drafting and preparing technical collaboration See Note 1

agreement and incidental matters. (incl. Shareholders Agre ement)

5. Advising on Non Resident Taxation Matters including Double Tax Avoidance See Note 1

Agreements including FEMA

XV Project Financing

(a) Preparation of CMA Data See Note 1

(b) Services relating to financial sector See Note 1

Notes:

1) Fees to be charged depending on the complexity and the time spent on the particular

assignment.

2) The above recommended minimum scale of fees is as recommended by the

CCBCAF&SMP Committee of ICAI and duly considered by the Council.

3) The aforesaid table states recommendatory minimum scale of fees worked out by

taking into account average time required to complete such assignments. However,

members are free to charge varying rates depending upon the nature and complexity

of assignment and time involved in completing the same.

4) Office time spent in travelling & out-of-pocket expenses would be chargeable.

The Committee issues for general information the above recommended scale of fees

which it considers reasonable under present conditions. It will be appreciated that

the actual fees charged in individual cases will be a matter of agreement between

the member and the client.

5) Service Tax should be collected separately wherever applicable.

6) The Committee also recommends that the bill for each service sho uld be raised ]

separately and immediately after the services are rendered.




August 2011

For Non Metro Cities


RateI) ADVISING ON DRAFTING OF DEEDS/ AGREEMENTS(a) i) Partnership Deed Rs. 3,500/- & Above ii) Partnership Deed (With con sultation & Tax Advisory) Rs. 5,000/- & Above(b) Filing of Form with Registrar of Firms Rs. 1,500/- & Above Per Form(c) Supplementary / Modification in Rs. 3,000/- & Above Partnership DeedII) INCOME TAXA. Filing of Return of In comeI) For Individuals / HUFs etc.(a) Filing of Return of Income With Salary/Other Sources/Share of Profit. Rs. 2,000/- & Above(b) Filing of Return of Income with detailed Capital Gain workingi) Less than 10 Transactions (For Shares & Securities) Rs. 3,000/- & Aboveii) More than 10 Transactions (For Shares & Securities) Rs 5,000/- & Above(c) Filing of Return of Income for Capital Gains on Immovable property Rs. 10,000/- & Above(d) Filing of Return of Income with Preparation of Bank Summary, Capital A/c & Rs 3,500/- & Above Balance Sheet.II) (a) Partnership Firms/Sole Proprietor with Advisory services Rs. 4,000/- & Above(b) Minor’s I. T. Statement Rs. 2,000/- & Above(c) Private Ltd. Company: i) Active Rs. 7500/- & Above ii) Defunct Rs. 3,500/- & Above(d) Public Ltd. Company i) Active Rs. 20,000/- & Above ii) Defunct Rs. 7,500/- & AboveB. Filing of Forms Etc.(a) Filing of TDS/TCS Return (per Form) (Quarterly Fees) i) With 5 or less Entries Rs.1,000/- & Above ii) With more than 5 Entries Rs.2,500/- & Above(b) Filing Form No. 15 -H /G(per Set) Rs. 1,000/- & Above(c) Form No. 49-A/ 49-B Rs. 1,000/- & Above(d) Any other forms filed under the Income Tax Act Rs Rs. 1,000/- & AboveC. CertificateObtaining Certificate from Income Tax Department Rs. 4,000/- & AboveD. Filing of Appeal Etc.(a) First Appeal.Preparation of Statement of Facts, Grounds of Appeal, Etc. Rs. 10,000/- & Above(b) Second Appeal (Tribunal) Rs. 20,000/- & AboveE. Assessments Etc.(a) Attending Scrutiny Assessment/ Appeal (i) Corporate See Note 1 (ii) Non Corporate Rs. 10,000/- & Above(b) Attending before other Authorities Visit Rs. 3,000/- & Above Per(c) Attending for Rectifications/Refunds/ Appeal effects Etc. Rs. 2,000/- & above per Visit(d) Income Tax Survey Rs. 25,000/- & above(e) T.D.S. Survey Rs.15,000/- & above(f) Income Tax Search & Seizure See Note 1(g) Any other Consultancy See Note 1III) CHARITABLE TRUSTS(a) (i) Registration Under Local Act Rs. 7,500/- & Above (ii) Societies Registration Act Rs. 10,000/- & Above(b) Registration Under Income Tax Act. Rs. 7,500- & Above(c) Exemption Certificate U/s. 80G of Income Tax Act. Rs. 6,000/- & Above



(d) Filing Objection Memo/other Replies Rs. 3,000/- & Above(e) Filing of Change Report Rs. 3,000/- & Above(f) Filing of Annual Budget Rs. 3,000/- & Above(g) Attending before Charity Commissioner including for Attending Objections Rs. 2,500/- & Above per visit(h) (i) F.C.R.A. Registration Rs. 10,000/- & Above(ii) F.C.R.A. Certification Rs. 2,500/- & AboveIV) COMPANY LAW and LLP WORK(a) Filing Application for Name Approval Rs. 2,000/- & Above(b) Incorporation of a Private Limited Company/LLP Rs. 10,000/- & Above(c) Incorporation of a Public Limited Company Rs. 20,000/- & Above(d) (i) Company’s/LLP ROC Work, Preparation of Minutes,Statutory Register & Other See Note 1 Secretarial Work (ii) Certification (per Certificate) Rs. 3,000/- & Above(e) Filing Annual Return Etc. Rs. 3,000/- & Above per form(f) Filing Other Forms Like: F -32, 18, 2 etc. Rs. 1000/- & Above per form(g) Increase in Authourised Capital Filing F-5, F-23, preparation of revised Memorandum of Association/Article Rs. 7,500/- & Above of Association/ LLP Agreement (h) DPIN/DIN per Application Rs. 1000/- & Above(i) Company Law consultancy including Petition drafting See Note 1(j) Company Law representation including LL P before RD and CLB See Note 1(k) ROC Representation See Note 1V) V.A.T./ PROFESSION TAX:A. Registration Work(a) Registration Under V.A.T. & C.S.T. Corporate See Note 1 Non Corporate Rs. 5,000/- & Above(b) Profession Tax Registration (P TR) Rs. 2,000/- & Above(c) Profession Tax Enrollment (per application) Rs. 1,000/- & AboveB. Filing of Return (V.A.T.)(a) Monthly Challans with Annual Return Rs. 1,000+ (Per Month)(b) Quarterly Challans with Annual Return Rs.1,500+(Per Quart er)(c) Six Monthly Challans with Annual Return Rs. 2,000+(Per 6 Months)(d) Yearly Composition Return Rs. 3,000 & aboveC. Assessments/ Appeals.(a) Attending V.A.T./Commercial Tax Assessments Rs. 5,000/- + 2,500/- (Per Visit)(b) Attending V.A.T./Commercial Tax Appeals Rs. 5,000/- + Rs 3,000/- (Per visit)D. Filling of Appeal / Appeals Drafting(a) First Appeal (AC/DC) Rs. 5,000/- & Above(b) Second Appeal Rs. 7,500/- & AboveE. Miscellaneous Work.(a) Profession Tax Returns & Assessment Rs. 2,500/- & Above(b) Obtaining C/F/H Forms under V.A.T./Commercial Tax (Per Application)(i) First Time Rs. 2,000/- & Above(ii) Renewal Rs.1,000/- & AboveVI) AUDIT and OTHER ASSIGNMENTSRate per day would depend on the complexity of thework and the number of days spent by each person.(i) Principal Rs. 5000/-& Above per day(ii) Qualified Assistants Rs. 2500/-& Above per day(iii) Semi Qualified Assistants Rs. 1000/-& Above per day(iv) Other Assistants Rs. 500/-& Above per daySubject to minimum indicative Fees as under:(i) Tax Audit Rs. 12,500/- & Above(ii) Company Audit(a) Small Pvt. Ltd. Co. (Turnover up to Rs. 2 Crore) Rs. 15,000/-& Above(b) Medium Size Pvt. Ltd. Co.(Turnover b etween Rs. 25,000/- & Above 2 to 10 Crore) (c) Large Size Pvt. Ltd. Co./ Public Ltd. Co. See Note 1(iii) V.A.T. Audit Rs. 7,500/- & Above(iv) Review Of TDS Compliance Rs. 7,500/- & Above(v) Transfer Pricing Audit See Note 1VII) INVESTIGATION, MANAGEMENT SERVICES OR SPECIAL ASSIGNMENTS




August 2011

Rate per day would depend on the complexity of thework and the number of days spent by each person.(a) Principal Rs. 10,000/-& Above + per day charge(b) Qualified Assistant Rs. 5,000/-& Above + per day charge(c) Semi Qualified Assistant Rs. 2,500/-& Above + per day chargeVIII) CERTIFICATION WORK(a) Issuing Certificates under the Income Tax Act i.e. See Note 1 U/S 80IA/ 80IB/ 10A/ 10B & other Certificates (b) Other Certificates For LIC/ Passports/ Credit Cards/ Etc. Rs. 2500/- & Above(c) Other Attestation (True Copy) Rs. 500/- per form(d) Networth Certificate for person going abroad Rs. 5,000/- & aboveIX) WEALTH TAX(a) Per Statement Rs.5,000- & Above(b) Statement & Filing Return Rs. 7500/- & AboveX) CONSULTATION & ARBITRATION Rate per hour would depend on the complexity of the work and the number of hours spent by each person.(a) Principal Rs. 10,000/- & above (initial fees) + additional fees @ Rs 2,500/- & above per hour(b) Qualified Assistant Rs 1,750/- & above per hour(c) Semi Qualified Assistant Rs 750/- & above per hourXI) NBFC/ RBI MATTERS(a) NBFC Registration with RBI See Note 1(b) Other Returns Rs. 5,000/- & aboveXII) SERVICE TAX(a) Registration Rs. 5,000/- & Above(b) Registration with Consultation See Note 1(c) Tax Advisory & Consultation i.e about value, taxability, classification etc. See Note 1(d) Monthly Challan with Half Yearly Return Rs. 5000 & Above + (Rs.1000/-Per Month)(e) Quarterly Challan with Half Yearly Return Rs.5000 & Above +(Rs. 1500/- Per Quarter)(f) Adjudication Rs. 15,000 & above(g) Appeal & showcause notice drafting / reply Rs. 10,000 & aboveXIII) FEMA MATTERS1. Filing Declaration with RBI in relation to transaction by NRIs/ OCBs Rs. 10,000/- & Above2. Obtaining Prior Permissions from RBI for transaction with NRIs/ OCBs Rs. 15000/- & Above3. Technical Collaboration: Advising, obtaining RBI permission, drafting and See Note 1 preparing technical collaboration agreement and incidental matters. 4. Foreign Collaboration: Advising, obtaining RBI permission, drafting and preparing technical collaboration See Note 1 agreement and incidental matters. (incl. Shareholders Agre ement)5. Advising on Non Resident Taxation Matters including Double Tax Avoidance See Note 1 Agreements including FEMAXV Project Financing(a) Preparation of CMA Data See Note 1(b) Services relating to financial sector See Note 1Notes:1) Fees to be charged depending on the complexity and the time spent on the particular assignment.2) The above recommended minimum scale of fees is as recommended by the CCBCAF&SMP Committee of ICAI and duly considered by the Council.3) The aforesaid table states recommendatory minimum scale of fees worked out by taking into account average time required to complete such assignments. However, members are free to charge varying rates depending upon the nature and complexity of assignment and time involved in completing the same.4) Office time spent in travelling & out-of-pocket expenses would be chargeable. The Committee issues for general information the above recommended scale of fees which it considers reasonable under present conditions. It will be appreciated that the actual fees charged in individual cases will be a matter of agreement between the member and the client.5) Service Tax should be collected separately wherever applicable.6) The Committee also recommends that the bill for each service sho uld be raised ] separately and immediately after the services are rendered.



August 2011

ROC COLUMN One more challenge has been placed before the Professionals with the introduction of STP (Straight Through Process) for obtaining availability of names pursuant to Section 20 of the Companies Act, 1956. This initiative of the Ministry of Corporate Affairs is aimed at expediting the process of incorporation of companies. This is sought to be achieved by placing greater responsibility upon the Professionals. Gradually the back office processing procedure is being reduced by shifting the task to the professionals instead of designated officers in the back office of the Registrar of Companies. The new Name Guidelines announced on 8th July 2011 provides that the name for a proposed company will be instantly available if the application in Form-1A is certified by a Practicing Company Secretary or a Practicing Chartered Accountant or a Practicing Cost and Works Accountant. It is earnestly expected that the professionals will accept the challenge and facilitate speedy Incorporation of Companies which would be comparable to any other developed Country.

The new Name Guidelines expect professionals to bear in mind the following important aspects while certifying Form-1A for availability of name :–

â The name applied for should not be “undesirable”. This word used in Section 20 of the Companies Act, 1956 has very wide import. The name should not be undesirable in every aspect including sentiment of specific ethnic group.

â The name applied for should not violate the provisions of “Emblems and Names (Prevention of Improper Use) Act, 1950. This Act seeks to protect certain emblems and names which are of national interest. The schedule attached to Act gives the details of names and emblems which should not be used by anyone, such as, Mahatma Gandhi, Jawaharlal Nehru, Indira Gandhi, Sri Satyasai, UNO, WHO etc.,

â The name applied for should not resemble a Registered Trade Mark or a Trade Mark which is subject of an application for registration under the Trade Marks Act, 1999.

â In this regard, the professional will be required to visit the website of Registrar of Trade Mark to ascertain the trade marks which are registered as well as the applications which are pending. This exercise needs to be done diligently to avoid any litigation after incorporation of the company. Keeping in view the large inflow of FDI, it would also be appropriate to take into account the brands of Multinational companies.

â The application for availability of name should also be strictly in compliance with nine guidelines notified through the Circular No. 45/2011 issued by MCA. The thrust of the circular is upon the following areas :–

(i) Similar Names

(ii) Generic Names

(iii) Abbreviated Names

(iv) Special Names, such as, Insurance, Bank, NBFC, State etc.,

(v) Uptodate compliance

â The Guideline relating to similar names are as many as Eleven. This signifies the importance of avoiding similar names viz-a-viz existing companies or LLP. These guidelines are more or less similar to the earlier guidelines in force prior to July 2011. No one shall apply for generic name. If the name applied contains only the activity without key word, it is construed as generic name. It is interesting to note that the new name guidelines has done away with the capital requirement with reference to certain words used in the name, such as, India, Industry, Enterprise, Incorporation, Globe etc., This is a significant step towards liberalization. However, it should be borne in mind that the capital requirement with specific reference to NBFC, Insurance, Venture Capital Fund etc., should continue to be complied. For e.g. in the case of Non-Banking Financial Companies, the authorized capital requirement of Rs. 2 crores should be complied. Similarly, in the case of companies incorporated pursuant to Part IX of the Companies Act, the existing authorized capital should be equal or more than the existing capital of the partnership firm.

â The name search facility presently available in Back Office of ROC has also been made available to the Front Office Portal. Six options are available for similar name verification by using appropriate key word and activity. For e.g. if the name applied for is ‘Laxmi Mills Limited’, the key word to be used should be “Sri Lax”, “Shree Lax”, “Sree Lax” with activity “Mills”. As per Guidelines No. 3, the search report should be attached to the e-form.

The objective of new name guidelines is to expedite the process of incorporation of company which can be achieved only when the Professionals accept the challenge and ensure perfect compliance mentioned above while certifying the e-form 1A for availability of name. The Ministry of Corporate Affairs has also highlighted the consequences of incorrect certification of Form-1A, if the requirements stipulated by the Ministry are disregarded. This would include invoking the relevant penal provisions of the Companies Act 1956, apart from initiating disciplinary proceedings under the relevant regulations administered by the professional body.

qq

Mr. Henry Richard ROC, Maharashtra,

Mumbai

Just to Update you.The Multipurpose Empanelment Form for 2011-12 is hosted on ICAI website. Last date for submission of applications on the website www.meficai.org is 27th August, 2011.(5.30 P.M.)

Filing of balance sheet and P&L in XBRL is made mandatory for certain companies and the due date for filing the financial statement in XBRL format originally fixed as 30.09.2011 is extended to 30.11.2011.



August 2011

CA Jaydeep Shah Hon’ble Vice President of ICAI Inaugrating the CA Students’ WIRC Sub - Regional Conference 2011 Seen from (L- R) CA Pramod Dhamankar (Past Chairman Vasai Br.), CA Lalit Bajaj (Past Chairman Vasai Br.) , CA Shweta Jain (Vice chairperson Vasai Br.), CA Kamlesh Vikamsey (Past President of ICAI), CA Unmesh Narvekar (Chairman Vasai Branch) CA Kishor Vaishnav (Treasurer Vasai Br. of WIRC) CA Shriniwas Joshi (Chairman of WIRC) CA Neel Majethia (Chairman of WICASA) and CA Ramanand Gupta (Secretary of Vasai Br. ).

On the dias from (R - L) CA Kishor Vaishnav (Treasurer of Vasai Br.), CA Ramanand Gupta (Scretary of Vasai Br.),CA Neel Majethia (Chairman of WICASA), CA Shriniwas Joshi (Chairman WIRC) , CA Unmesh Narvekar (Chairman Vasai Branch), CA Jaydeep Shah ( Hon’ble Vice President of ICAI) ,CA Kamlesh Vikamsey (Past President of ICAI), CA Shweta Jain (Vice Chairperson Vasai Br.) , CA Lalit Bajaj (Past Chairman Vasai Br.), CA Pramod Dhamankar (Past Chairman Vasai Br.) and CA D.P. Revawala (Ex-Committee Member of Vasai Br.). & Anchor CA Subhashish Dutta Welcoming

the Dignitaries at the Inaugural function of CA Students Sub Regional Conference.

CA Unmesh Narvekar (Chairman of Vasai Branch of WIRC) Presenting flower Bouquet to CA Jaydeep Shah (Vice President of ICAI)

CA Shweta Jain (Chairperson - Vasai Branch of WIRC) Presenting flower Bouquet to CA Kamlesh Vikamsey (Past President of ICAI)

PHOTO GALLERY

Our Guest of Honor CA Kamlesh Vikamsey (Past President of ICAI)

CA Sriniwas Joshi (Chairman WRIC)

CA Unmesh Narvekar (Chairman Vasai Branch)

On the dias CA Neel Majethia (Chairman of WICASA)

CA Shweta Jain (Vice Chairperson Vasai Branch)

CA Hon’ble Jaydeep Shah (Vice President of ICAI)

Ü

Ü

DIGNITARIES ADDRESSING AT STUDENTS SUB REGIONAL CONFERENCE


August 2011

CA Bhavna Doshi, (CCM)

CA C. S. Nanda, (CCM)

CA Durgesh Kabra, (RCM)

CA Jay Chhaira, (RCM)

CA Nilesh Vikamsey, (CCM)

CA Sanjeev Maheshwari, (CCM)

CA Uttam Prakash Agarwal, (Past President of ICAI)

CA V. Murali, (Chairman Board of Studies)

Shri. Vijay Kapur, (Director Board of Studies)

CA V. Murali (Chairman Board of Studies) Presenting Memento &

Bouquet to Ramanujam Raghavan (Paper Writer First Runner up)

Paper Presenter at the Conference

Ms Heena Ahuja


Ms Nidhi Kothari

Mr. Nakul Chugan

Mr. Ramanunjan Raghavan


Ms Sabeera Khojia

Mr. Vansee Yellapgrada

Mr. Sriniwas Sriram


Mr. Swapnil Dhadiwal


Mr. Yogesg Malpani

Mr. Ashay Upadhyay

Mr. Arihant Sethia

Dr. Arjun Saini CA Narendra Bhambwani

CA V. Murali (Chairman Board of Studies) Presenting Memento & Bouquet to Ashay Upadhayay (Paper Writer 1st Winner)

OUR BEST PAPER WRITERS

OUR JUDGE

OUR SPEAKER (CA STUDENT)

OUR SESSION CHAIRMEN

Ü

Ü

CA Anu AgarwalCA D. P. Revawala



August 2011

Undelivered please return to :The Institute of Chartered Accountants of India, Vasai Branch of WIRCAddress: Office No.115/116 Ostwal Ornate, Bldg. No. 1A, Jesal Park, Bhayandar (E), Thane- 401 105. Telephone: 022-2817 8518 / 3245 9348 Email: [email protected] / [email protected] Website: www.vasai-icai.org

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Editor : CA Umesh Narvekar Published by Vasai Branch of Western India Regional Council of The Institute of Chartered Accountants of India and printed at Finesse Graphics and Prints Pvt. Ltd., 309, Parvati Ind. Est., Sun Mill Compound, Lower Parel, Mumbai 400 013. Tel. : 40364600 The views and opinions expressed or implied are those of the authors or contribution and do not necessarily reflect those of Vasai Branch. Unsolicited articles and transparencies are sent in at the owner’s risk and the publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whether in part or in whole, without the consent of Vasai Branch.DISCLAIMER: The Vasai branch is not in any way responsible for the result of any action taken on the basis of the advertisement published in the Newsletter. The members, however, may bear in mind the provision of the Code of Ethics while responding to the advertisements.

Group Photo of Winner of Quiz & Elocution Contest held on 24th July 2011

CA Pramod Dhamankar, Past Chairman Vasai Branch, addressing the Students at CA Career Counseling

on 1st July

Mr. Druvkishore Patil (Corporator MBMC), addressing the audience at CA Day on 1st July.

Group Photo of Participants of Quiz & Elocution Contest Held on 24th July 2011.

CA Unmesh Narvekar, Chairman Vasai Branch, and CA Lalit Bajaj, Past Chairman, Vasai Br. addressing the Students at

CA Career Counseling

Group Photo of Flag Hoisting with Members & Students at Ceremony on 1st July

Annual General Meeting of Vasai Branch at Branch Office with Office Bearers & other CA Members held on

27/07/2011

CA Ramanand Gupta, Secretory Vasai Branch, addressing the Students at CA Career Counseling

CA Unmesh Narvekar, Chairman Vasai Branch, Presenting Flower Bouquet to Mr. Druvkishore Patil (Corporator

MBMC) on is visit to Vasai Branch Office.

PHOTO GALLERY

the institute of chartered accountants of india vasai ...vasai-icai.org/image/august 2011[1].pdf2...

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