northern india chartered accountants students association ... newsletter_march final.pdf ·...

NORTHERN INDIA CHARTERED ACCOUNTANTS STUDENTS ASSOCIATION

NO. 1

March, 2018

GST 2018GST 2018GST 2018

NICASANICASANICASAE-NEWSLETTERE-NEWSLETTERE-NEWSLETTER

EDITORIAL BOARD

Central Council Members- ICAI ( Northern Region):

CA. Sanjay Agarwal 9811080342

CA. Vijay Kumar Gupta 9810050029

CA. Sanjiv Kumar Chaudhary 9810127362

CA. Atul Kumar Gupta 9810103611

CA. Sanjay Vasudeva 9811153837

CA.Rajesh Sharma 9810277394

Regional Council Members ( NIRC of ICAI)

CA. Pankaj Periwal Chairman, NIRC of ICAI 9 417240316

CA. Nitin Kanwar Vice- Chairman, NIRC of ICAI 9 810387163

CA. Pooja Bansal (Mrs.) Secretary, NIRC of ICAI 9 810550051

CA. Rajender Arora Treasurer, NIRC of ICAI 9 891112120

CA. Sumit Garg NICASA, Chairman 9 560064645

CA. Deepak Garg NICASA, Member 9 811064105

CA. Rakesh Makkar NICASA, Member 9 811104384

CA. Rajesh Kumar Agrawal Member, NIRC of ICAI 9 868156062

CA. Yogita Anand (Ms.) Member, NIRC of ICAI 9 582447118

CA. Swadesh Gupta Member, NIRC of ICAI 9312580854

CA. Alok Jain Member, NIRC of ICAI 9 899259011

CA. Vivek Khurana Member, NIRC of ICAI 9868520786

CA. Rajinder Narang Member, NIRC of ICAI 9 416045023

1. CA. Sumit Garg Chairman, NICASA

2. CA. Deepak Garg Member, NICASA

3. CA. Rakesh Makkar Member, NICASA

4. Shri Himanshu Abhishek Vice-Chairman, NICASA

5. Shri Ashish Maheshwari Secretary, NICASA

6. Shri Anshul Treasurer, NICASA

7. Shri Ajay Shankar Ojha, Member

8. Shri Avinash Member

9. Shri Deepak Kumar Member

10. Shri Mrityunjay Mishra Member

11. Shri Prakash Sharma Member

12. Shri Rakesh Kumar Member

13. Ms. Shivangi Singh Member

LIST OF NICASA TEAM 2018-2019

Mrityunjay MishraMember, NICASA

Himanshu AbhishekVice-Chairman, NICASA

Ashish MaheshwariSecretary, NICASA

AnshulTreasurer, NICASA

Prakash SharmaMember, NICASA

Shivangi SinghMember, NICASA

Deepak KumarMember, NICASA

AvinashMember, NICASA

Rakesh KumarMember, NICASA

Ajay Shankar OjhaMember, NICASA

CA. Sumit GargChairman, NICASA

CA. Deepak GargNICASA, Member

CA. Rakesh MakkarNICASA, Member

MARCH, 2018 NICASA E-NEWSLETTER

CA Naveen N.D. GuptaPresident, ICAI

CA. Prafulla Premsukh ChhajedVice-President, ICAI

NIRC OF ICAI - 2016-2019 (Central Council Members from Northern Region)

CA. Rajesh Sharma

CA. Sanjiv Kumar ChaudharyCA. Sanjay AgarwalCA. Vijay Kumar Gupta

CA. Atul Kumar Gupta CA. Sanjay Vasudeva

NIRC OF ICAI - 2016-2019 REGIONAL COUNCIL MEMBERS

CA. Pankaj PeriwalChairman,

NIRC of ICAI

CA. Nitin KanwarVice-Chairman, NIRC of ICAI

CA. Pooja Bansal (Mrs.)Secretary,

NIRC of ICAI

CA. Rajender AroraTreasurer,

NIRC of ICAI

CA. Alok JainMember,

NIRC of ICAI

CA. Sumit GargNICASA, Chairman

CA. Deepak GargNICASA, Member

CA. Rakesh MakkerNICASA, Member

CA. Rajesh Kr. AgrawalMember,

NIRC of ICAI

CA. Swadesh GuptaMember,

NIRC of ICAI

CA. Rajinder NarangMember,

NIRC of ICAI

CA. Vivek KhuranaMember,

NIRC of ICAI

CA. Yogita Anand(Mrs.)Member,

NIRC of ICAI

From the Desk of the Secretary...From the Desk of the Secretary...From the Desk of the Secretary...Message from the Chairman in Office, NICASA

It is really heartening to pen a

message in the inaugural issue of

students' newsletter of the

Northern India Chartered

A c c o u n t a n t S t u d e n t s '

Association of NIRC of ICAI.

A vo id was fe l t in our

communication with the student

fraternity. It was a dream of the

present NICASA team to have a

separate newsletter which is

focused on the matters related to

the students. The dream has

fructified in form of this

newsletter. We look forward to

your views and suggestions. I

hope students will find this

newsletter informative and

useful. I compliment my team of

other NICASA members for the

initiative. I would also like to put

on record the support of the

Chairman and other members of

Northern India Regional Council

in the activities of NICASA

including in bringing out this

newsletter.

The domain of accounting and

finance is evolving with many

changes happening. India is

writing a new success story on the

global map which is being

recognised by leaders of major

economies and also by major

economic organisations. The

International Monetary Fund

distinguishes India as fastest

growing emerging economy with

projected growth rate of 7.4 per

cent in the year 2018 which will

accelerate further to 7.8 per cent

in the subsequent year.

The legal and business framework

is also changing to create a

conducive environment for

growth. Recently, the accounting

world has witnessed several

changes in corporate and allied

laws, policies and procedures to

enhance ease of doing business

and bringing better governance.

The enactments of Goods and Nic

asa

Chair

man

Dear Professional Colleagues,

196

education and training. The emphasis

on information technology and

a d va n c e d m a n a g e m e n t a n d

communication skills are going to help

the students to be develop holistically

to be at the top.

The NICASA is taking a number of

steps to assist the students in their

learning endeavours. We have

continuously organised classes, mock

test papers, seminars and guidance

sessions for the benefit of students. To

break monotony and provide

opportunity to the students and to

showcase their talents a cultural event

was also organised recently where

about 850 students have participated.

NICASA is highly concerned about the

interest of students and will continue

its efforts to render high quality

services. Your feedback is important

for us. Please feel free to contact us.

With best wishes,

Service Tax Acts, Insolvency and

Bankruptcy Code, 2016, Real Estate

(Regulation and Development) Act,

2016 are some of the changes that will

redefine the business and industry.

The Chartered Accountants have to

remain adaptive to these changes and

acquire contemporary knowledge to

retain the edge enjoyed by them as

professionals. As a student, you

should also be aware of the changes

happening and understand them. You

need to learn beyond the text books to

enhance your knowledge and develop

your overall personality.

“We reap what we sow. We are the

makers of our own fate. The wind is

blowing; those vessels whose sails are

unfurled catch it, and go forward on

their way, but those which have their

sails furled do not catch the wind. Is

that the fault of the wind?....... We

make our own destiny”– said Swami

Vivekananda. The ICAI, in line with the

wind of changes has restructured its

scheme of education and training to

ensure that the students acquire

highly useful knowledge and skills and

to empower them to take professional

challenges in the world of Chartered

Accountancy. Changes have happened

not only in the syllabus but have

extended to other aspects of the

CA. Sumit GargChairman in Office,

Northern India Chartered Accountant Students’

Association of NIRC of ICAIMarch, 14,2018, New Delhi

197

March, 2018 NICASA E-NEWSLETTER

From the Desk of the Secretary...From the Desk of the Secretary...From the Desk of the Secretary...Message from out going Chairman, NICASA

Heartiest compliments on this

inaugural issue of the students'

newsletter of the Northern India

Chartered Accountant Students'

Association of NIRC of ICAI.I am sure

the newsletter will act as effective

medium to reach out the students of

the Region.

The May, 2018 Chartered Accountancy

examinations are quite near. I am sure

the students who are appearing in the

forthcoming examinations are putting

in their best effort. I really wish them

t o p e r f o r m w e l l a n d p a s s

examinations. In May, 2018,

examinations under both old and new

schemes would be conducted.

The examinations are a way to assess

the professional knowledge and skills

acquired by the students. I hope that

the students would be able to

showcase their knowledge in

theoretical concepts and the

knowledge that they have gained in

practical training. It is important that

the students study well, properly

assimilate the concepts and write

app rop r i a te answers i n the

examinations to score good marks.

Dr. A.P.J. Abdul Kalam said “To succeed

in your mission, you must have single-

minded devotion to your goal.”There

are a number of factors and virtues

that lead to success. However, one

virtue that can really help you to

achieve success is a focused eye on

goals. In the Hindu mythological epic –

Mahabharata – Arjuna could only see his

target, eye of the bird. While other

Students of Guru Dronacharya saw tree,

branch, bird, leaves, etc. This virtue

made Arjuna a great warrior. In life,

there are so many irrelevant things that

consume our time and energies.

Many students have good knowledge,

but they are not able to translate them in

their answers. They need practice.

Study exhaustively and practice by

writing as much as you can. Do not

ignore any subject – whether numerical

or theoretical. Learn theory even in

otherwise numerical papers such as

accountancy and finance. Make full use

of various educational inputs provided

by ICAI in different subjects. The study

materials, suggested answers to the

questions set in previous examinations,

revision test papers, e-lectures are all

important.

Keep doing the hard work and I am sure

success will be yours very soon.

Best wishes,

Nic

asa

Vic

e-C

hair

man

Dear Professional Colleagues,

198

CA. Nitin Kanwar,Vice-Chairman,

NIRC of ICAIMarch, 14,2018, New Delhi

portal in the manner specified in this rule.

Provided also that where the goods are transported for a distance <

10Km. within the State or Union territory from the place of business

of the consignorto the place of business of the transporter for

further transportation, the supplier or therecipient, or as the case

maybe, the transporter may not furnish the details ofconveyance in

Part B of FORM GST EWB-01.

4) Upon generation of the e-way bill on the common portal, a

unique e-way bill number(EBN) shall be made available to the

supplier, the recipient and the transporter on thecommon portal.

5) After e-way bill has been generated in accordance with the

provisions ofsub-rule (1), where multiple consignments are

intended to be transported in oneconveyance, the transporter may

indicate the serial number of e-way bills generated inrespect of

each such consignment electronically on the common portal and

aconsolidated e-way bill in FORM GST EWB-02 maybe generated by

him on the saidcommon portal prior to the movement of goods.

6) Where the consignor or the consignee has not generated FORM

GST EWB-01 inaccordance with the provisions of sub-rule (1) and

the value of goods carried in theconveyance >Rs50,000, the

transporter shall generateFORM GST EWB-01 on the basis of

invoice or bill of supply or delivery challan, as thecase maybe, and

may also generate a consolidated e-way bill in FORM GST EWB-

02on the common portal prior to the movement of goods:

Provided that where the goods to be transported are supplied

through an e-commerceoperator, the information in Part A of FORM

GST EWB-01 may be furnished by such ecommerce operator.

7) The information furnished in Part A of FORM GST EWB-01 shall

be made available tothe registered supplier on the common portal

who may utilize the same for furnishing details in FORM GSTR-1:

Provided that when the information has been furnished by an

unregistered supplier oran unregistered recipient in FORM GST

EWB-01, he shall be informed electronically, ifthe mobile number or

the e-mail is available.

8) Where an e-way bill has been generated under this rule, but

goods are either nottransported or are not transported as per the

details furnished in the e-way bill, the eway bill may be cancelled

electronically on the common portal within 24 hours ofgeneration

of the e-way bill.

9) The e-way bill generated under this rule or under rule 138 of

the Goods and Services

Tax Rules of any State shall be valid in every State and Union

Information to be furnished prior to commencement of movement

of goods and Generation of e-way bill-

Applicability:-

1) Every registered person who causes movement of goodsof

consignment value> 50,000:

a) in relation to a supply; or

b) for reasons other than supply; or

c) due to inward supply from an unregistered person,

Shall, before commencement of such movement, furnish as

specified in Part A of FORM GST EWB-01, electronically, on the

common portal and aunique number will be generated on the said

portal.

Provided that where goods are sent by a principal located in one

State to a job workerlocated in any other State, the e-way bill shall

be generated by the principal irrespective of the value of the

consignment.

Provided further that where handicraft goods are transported from

one State to anotherby a person who has been exempted from the

requirement of obtaining registrationthe e-way bill shall be

generated by the saidperson irrespective of the value of the

consignment.

2) Where the goods are transported by the registered person as a

consignor or therecipient of supply as the consignee, whether in

his own/hired conveyance or by railways/air/vessel, the said

person or the recipient may generate the e-waybill in FORM GST

EWB-01 electronically on the common portal after

furnishinginformation in Part B of FORM GST EWB-01

Provided that where the goods are transported by

railways/air/vessel, the e-waybill shall be generated by the

registered person, being the supplier or the recipient, whoshall

furnish, on the common portal, the—

a) information in Part B of FORM GST EWB-01

b) the serial number and date of the Railway Receipt/Air

Consignment Note/ Bill of Lading.

3) Where the e-way bill is not generated under sub-rule (2) and

the goods are handed overto a transporter for transportation by

road, the registered person shall furnish theinformation relating to

the transporter on the common portal and the e-way bill shall be

generated by the transporter on the said portal on the basis of the

information furnished by the registered person in Part A of FORM

GST EWB-01

Provided that the registered person or, the transporter, as the case

may be may, at his option, generate and carry the e-way bill even if

the value of the consignment is < Rs.50,000

Provided further that where the movement is caused by an

unregistered person either in his own conveyance or a hired one or

through a transporter, he or the transporter may,at their option,

generate the e-way bill in FORM GST EWB-01 on the common

E-Way Rules with Analysis

Chandan Kumar Thakur

199


consignment value>50,000in relation to supply; or reasons other

than supply;or inward supply from unregistered person shall

generate e-way bill. It means, theconsignor or consignee, as a

registered person or a transporter of the goods cangenerate the e-

way bill. The unregistered transporter can enroll on the common

portaland generate the e-way bill for movement of goods for his

clients. Any person can alsoenroll and generate the e-way bill for

movement of goods for his/her own use.

Q.2 Is it compulsory to raise E-way bill in case of

transportation of goods byprincipal to job worker

irrespective of the value of consignment?

Ans: Rule 138 (1) provides that where goods are sent by principal

located in one state to jobworker located in another state, e-way

bill has to be generated irrespective of the valueof the

consignment. This indicates that there is compulsory requirement

to generate E-waybill only in case of inter-state movement of goods

for job work purpose.Hence, for sending goods to job worker within

state, E-way bill is required to begenerated only if the value

exceeds Rs. 50,000/-

Q.3 What is the requirement of e-way bill in case of

Handicraft goods?

Ans: Where handicraft goods are transported from one State to

another by a person whohas been exempted from the requirement

of obtaining registration under GSTprovisions, the e-way bill shall

be generated by the said person irrespective of thevalue of the

consignment.

Q.4 How shall one calculate the distance and validity of

goods in case of supplythrough multi-modal transport?

Ans: The distance and the validity of e-Way Bill shall remain the

same even if the goods aresupplied through a multi-modal

transport. In order to calculate the validity of the e-waybill, the

distance to be covered by all the modes combined together must be

taken intoconsideration. The validity provided in the rules is as

under:

Q.5 Whether E-way bill is required to be generated for

movement of exempted goods also?

Ans: Notification No. 3/2018 has provided that E-way bill is not

required to be generated formovement of goods covered under

Notification No. 2/2017-Central Tax (rate). ThisNotification covers

all exempted categories of goods. Hence, there is no need

togenerate E-way bill when a person is causing movement of

exempted category ofgoods except de-oiled cake. In addition to

such exempted goods, E-way bill is notrequired for following

goods:

• Non GST goods i.e. alcoholic liquor for human consumption,

petroleum crude,high speed diesel oil, motor spirit, natural gas,

aviation turbine fuel,

• Goods being transported are not considered as supply under

Schedule III ofCGST Act

• Goods covered under Annexure to Rule 138 i.e. LPG, Kerosene,

Postalbaggage, jewellery, precious metals, stones, currency, used

and personalhousehold effects etc.

territory.

10) Notwithstanding anything contained in this rule, no e-way bill is

required to be generated-

a) where the goods being transported are specified in Annexure;

b) where the goods are being transported by a non-motorised

conveyance;

c) where the goods are being transported from the port, airport,

air cargo complex andland customs station to an inland container

depot or a container freight station forclearance by Customs;

d) where the goods being transported are alcoholic liquor for

human consumption,petroleum crude, high speed diesel, motor

spirit (commonly known as petrol),natural gas or aviation turbine

fuel; and

e) where the goods being transported are treated as no supply

under Schedule III ofthe Act.

SOME PRACTICAL ASPECTS OF E-WAY BILL UNDER GST

▪ E – Way Bill Portal - http://ewaybill.nic.in

▪ REGISTRATION (on e-way bill portal)

Registration on e-way portal is different from that of registration on

GSTN portal

Some FAQs on E-way Bill:

Q.1 Who all can generate E-Way Bill?

Ans: Every registered person who causes movement of goods of


1910

(CBDT), that frames policy for the tax

department, has constituted a special team of

officers to prepare modalities for this path-

breaking initiative and abolish the age-old

prevalent system of a taxpayer being assessed in

a specific circle of the city or town where he or she

is based.For example, the ITR and scrutiny case

papers of a taxpayer living in Delhi could be

assessed by an AO based in, say, Mumbai or Kochi

and likewise agencies.

This first-of-its-kind initiative will totally change

the relationship and dealing between an assessee

and his assessing officer (AO). The income tax

returns (ITRs), scrutiny cases and all other I-T

related correspondence of a taxpayer will go to a

officer chosen randomly by the database system

who is working in any I-T office of the country.

During the two-day ‘Rajaswa Gyan Sangam’

conference (national meeting of top tax officers of

the country), PM Modi encouraged tax officials to

push for digital IT assessment method, which will

save the tax-payers time, and remove corruption

from the system.

Earlier, tax-payershad to visit Income Tax offices,

for clearing their filings, and approving their

assessments via manual check. Filing of tax

returns, receiving queries from tax authorities

and submitting responses have now moved

towards the electronic mode of communication.

The use of technology will further increase in the

years to come, making almost the entire

There is a famous saying by Albert Einstein

that,"The hardest thing to understand in the

world is the income tax". One is taxing something

and the other is its assessment. Both are

altogether two different areas of understanding.

An estimated 3.9 Lacs direct tax cases are

pending across various appeal forums including

commissioner (appeals), income tax appellate

tribunals (ITAT), high court and Supreme Court,

encouraging the tax department to look for ways

to reduce litigation. There are recommendations

by internal committee for capping the number of

such scrutinies, among other steps to reduce

litigation and strengthen litigation management.

At present, less than 1% of the 40 million tax

returns filed are picked up for scrutiny. It has

suggested that appeals at ITATs, high courts and

Supreme Court should be reviewed and

withdrawn if they have become redundant due to

legislative changes or court rulings. It has also

suggested that high courts should be requested

to constitute tax benches at least temporarily to

reduce pendency.

The tax department has been taking a number of

steps to reduce litigation including increasing the

monetary limits for filing of appeals by the tax

department in higher courts as well as resorting

to the dispute resolution scheme that gives tax

payers an opportunity to end litigation by paying

the principal and waiving the penalties.

The income tax (I-T) department is working on a

new system of jurisdiction-free assessment,

where a taxpayer would be assessed by a taxman

based in any part of the country as part of

measures to reduce instances of corruption and

harassment. The Central Board of Direct Taxes

E-ASSESSMENTS- FUTURE OF INDIA

Manisha Sharma


1911

the government has expressly discussed the use

of data analytics to identify potential tax evaders.

Data-linkages are expected to increase the tax

compliance base, identify defaulters and make

enquiries more specific and 'to-the-point'. Under

the Annual Information Return, considerable

information about a taxpayer's activities is being

provided to the Tax Authorities. Using such

streams of information, the government systems

could have certain automatic triggers to capture

transactions having values disproportionate to a

taxpayer's reported income and/or scale of

operations. Suspicious transactions could be

caught on time. Also the enquiries from Tax

Authorities would become more specific to the

taxpayer thereby saving time and effort at both

ends and bringing the enquiry to a logical

conclusion.

While it is certain that the tax world will use

technology to greater extent, the pace of its

implementation as compared to changes in the

tax policies and procedures need to be gauged so

that the taxpayer as well as Tax Authorities are

equipped with appropriate technology at the

appropriate time.

With this dream view of India’s government to

take the country to further higherstandards I

would like to quote few lines on dreams written by

me, which says..

YEH WAQT BHI GUZAR JAAYEGA..!

SABKUCH KHAYAALO TAK REH JAAYEGA..!

APNE KHWAABO KO SAANSE DEKAR TO

DEKH..!

TERA JEEVAN YU HE SANWAR JAAYEGA..!

GIVE LIFE TO YOUR DREAMS..!

interaction through the electronic means. For

instance, queries raised by the Tax Authorities

and the submissions made during a scrutiny

assessment (revenue audit) proceedings will

soon be carried out online. The pilot project on

electronic scrutiny assessments launched by the

government is a step in this regard.Specific and

to-the-point discussions between taxpayer and

Tax Authorities.

Finance Minister ArunJaitley, in his budget

speech of 2018, announced that the electronic

assessment of tax returns would be launched in

the country, which would "almost eliminate

person-to-person contact, leading to greater

efficiency and transparency".The assessment

team will now comprise two officers, maybe the

AO and another officer of additional or joint

commissioner rank.

Till now, only one AO is responsible for a case

under assessment.

The new measure of deputing two officials for one

assessment case is being seen as increasing the

level of monitoring as well as aiding the AO to

quickly conduct the task.The scheme would be

launched in all the cities where the department

had an officer of the rank of principal

commissioner.

Data-linkages between different arms of the

government and the institutions in the financial

system are enabling the Tax Authorities to

capture better information about a taxpayer. In

the times to come, we expect seamless

assimilation of different aspects of taxpayer

information such as bank accounts, incomes,

expenses and investments through the key field

of Permanent Account Number (PAN) and

Aadhaar. This will result in particulars of a

transaction and tax event becoming readily

available to the Tax Authorities.In a recently

launched 'Operation Clean Money' to deal with

cash deposits during the demonetisation period,

1912


• One who is intelligent, but does not have role

models to learn qualities like persistence,

determination and creative thinking is bound to be fall

short of his/her true potential.

• Having a Role Model in our life will give us a sense of

productive goals and a sense of direction towards our

goals. We should take some time once in a week and

learn from successful people by reading their stories

and books.

Qualities of a Ideal Role Model:

• Passion and ability to change the things: Role model

shows passion for their work. Role Model has qualities

that inspire others and have the ability to change.

• Clear set of values: Values are the things that we

believe are important in the way we live and work.(for

example Working in Ethical way only)

• Commitment to community: Role models are active

in their life, they share their time and talents with other

people to benefit them.

• Ability to overcome obstacles: Role Models have

ability to overcome obstacles and remove all hurdles.

Benefits of Role Model:

• Role Model serves as an inspiration and encourages

us to aim high.

• Hero worship is healthy, and while some never stop

idolizing their heroes, some stop after they enter

adulthood and others never really start.

• Focus: having a role model helps us focus on our

goal

• Inspiration: a person with a role model is more

likely to be inspired and driven to achieve his/her goal,

than a person without one.

• Coping with adversity: temporary setbacks are a

part of life and everyone goes through them. It is

important that we do not lose hope and keep sight of

our goal at the end.

• A role model gives us confidence that we can

succeed, because it is likely that our role model would

also have suffered setbacks and overcame them.

Introduction:

Role Models help people to learn the skills needed to

be a motivated self learner. Modeling the behavior,

thoughts, and attitudes of successful people helps a

person to become more successful.

Why it is recommended to have a role model:

Research has shown that almost all of the successful

people today (success defined as setting and reaching

one’s own goal) had a series of role models. The

leaders of today all had great role models that inspired

them to great heights. For example HENRY FORD

(Founder of Ford Motor company)used THOMAS

EDISON as his role model (in fact, he hung a picture of

Edison near his work area), the selection of good role

model serves as a guide for us to make the most out of

our abilities. Einstein said, “Imagination is more

important knowledge.” By introducing us to role

models for all aspects of our life, we develop our

imaginations. We imagine success imitating our role

Model.

How Role Model concept works:

Role Models are very powerful force for setting and

achieving productive goals. Our minds are naturally

developed to learn from the experience of others.

Whether the experience is captured in the form of

books, stories, or games, the experience of others

offers a very powerful way to reach a higher level of

success. People without goals and role models

flounder in their life.

For example, learning persistence through stories

about the famous inventor Thomas Edison that failed

10000 times before discovering the light bulb is a

great way to learn the value of determination.

How to set a Role Model:

• It is imperative that we should have good role

models that can guide us to develop our maximum

potential in all aspects of our life. We naturally look to

our surroundings for role models. If we cannot find a

good role model, we will cling to bad ones.

• We need a set of good role models to set an

example of the behaviors, thinking styles and

attitudes needed to succeed in life.

ROLE MODELS: MOTIVATE SELF LEARNING


1913

Commerce and Industry (FICCI).

Chanda Kochhar:

• Chanda Kochhar, ICICI Bank CEO, recently made it

to the Fortune list of 25 most powerful Women in the

Asia-Pacific region, and stands first among other

Indian women. She has been featured in this list

consistently since 2005.

• She played an important role in developing and

shaping the retail banking sector in India.

• She has also been honored with the Padma

Bhushan Award in 2010 for her services to the banking

sector.

• In a society where very few women manage to

reach the top rungs of the corporate ladder, Chanda

Kochhar has broken the glass ceiling. She is leading

the ICICI Bank since 2009 and under her leadership

ICICI Bank won the "Best Retail Bank in India" award in

2001, 2003, 2004 and 2005.

Conclusion:

Role models are highly important for us. They help us

in making important decisions that affect the outcome

of our life, to succeed and be happy in our life. In the

context of CA Students since in this course we have to

study by ourselves only, we lack sometime in

disciplined study. By reading about Rank Holders that

how they studied and made it possible we can also

make our preparations so strong that we also clear our

examinations with flying colors.

Real Faces (Examples):

APJ Abdul Kalam:

• The Missile Man of India – A Perfect Role Model.

• Abdul Kalam has done a significant work in the field

of science and technology

• Awarded with “Bharat Ratna” “Padhma Vibhusan”

and “Padma Bhusan”.

• He always lived a humble simple life. He believed in

the power of the youth and always encouraged them

for their creativity.

• Inspired by his simplistic approach if we

incorporate at least 10% of his habits (Waking up

early, Being determined and committed towards work,

Meeting the impossible deadlines with a sharp focus

and hard work, Be humble and polite to everyone) we

might just make the best out of our life.

Dhirubhai Ambani:

• Dhirajlal "Dhirubhai" Hirachand Ambani was an

Indian Business Tycoon who founded Reliance

Industries in Bombay with his cousin.

• He was honored with the Padma Vibhushan for his

contributions in trade and industry.

• 2000, 1998 and 1996– Featured among Power 50-

the most powerful people in Asia by Asia week

magazine.

• June 1998 – "Dean's Medal" by The Wharton

School, University of Pennsylvania, for setting an

outstanding example of leadership. Dhirubhai Ambani

has the rare distinction of being the first Indian to get

Wharton School Dean's Medal.

• Dhirubhai Ambani was named the "Man of 20th

Century" by the Federation of Indian Chambers of

1914


for it.Youknows the way, how will you get prefit CA

before you name. You have to be prepared for that, then

you will be able to attempt and achieve. So believe

yourself, keep moving to get what you ask.

The key reason confidence is so powerful and magnetic

is simple, confident people ask for what they want.

Whether it is advice, a sale or a date, confident people

ask others for what they want. They ask for what they

want out of the world and they ask for what they want

out of themselves. Surprisingly much of achieving goals

is simply building up the courage to ask for them.

You need to ask because:

� Asking for what you want gets you what you want.

� You need to ask to be able to serve.

The first answer may seem obvious. When you ask for

what you want you can receive what you want. But the

second answer may have surprised you. How does

asking for what you want increase your capacity to

serve?

The reason asking helps you serve is because asking is

critical to growth. When you don’t ask for what you

want, you can’t improve the value you are offering. And

unless you are an extremely rare individual that already

comes with tremendous value, your real ability to serve

doesn’t lie in your current talents. Your ability to serve

comes from improving the value you offer.

The real value of confidence is it enables you to ask.

Confidence is the deep feeling and belief that the value

you offer into the transaction is at least equal or in

excess of what you is asking for in return. The belief that

the people listening to your speech benefit more than

your fees. The belief that the women you approach will

benefit from your relationship. The belief that you have

value to give. Ask in a way that creates more value than

I believe something is better than nothing but for

achieving at least something; you have to dream big

and should focus on it with courage and dedication.

Believing yourself is source of courage and confidence.

Our thought defines our future, what we believe, we will

achieve.

I know you must've heard this many a times, story of

elephants.“As a man was passing the elephants, he

suddenly stopped, confused by the fact that these huge

creatures were being held by only a small rope tied to

their front leg. No chains, no cages. It was obvious that

the elephants could, at any time, break away from their

bonds but for some reason, they did not.

He saw a trainer nearby and asked why these animals

just stood there and made no attempt to get away.

“Well,” trainer said, “when they are very young and

much smaller we use the same size rope to tie them

and, at that age, it’s enough to hold them. As they grow

up, they are conditioned to believe they cannot break

away. They believe the rope can still hold them, so they

never try to break free.”

The man was amazed. These animals could at any time

break free from their bonds but because they believed

they couldn’t, they were stuck right where they were.

Like the elephants, how many of us go through life

hanging onto a belief that we cannot do something,

simply because we failed at it once before?

Failure is part of learning; we should never give up the

struggle in life.

As you know, river does not come to thirsty people, you

have to go toit.In same way, you have to ask what you

need; either yourself or others. Everyone, who is

reading this article, is asking for CA prefix before name,

Right? Youare confident to get it so you are struggling

What youbelieve; You will get.

Pradip Sagar Rokaya

If you can’t fly, then run, if you can’t walk run, then walk, if you can’t walk, then crawl, but by all means keep moving.

– Martin Luther King Jr.


1915

Once the three pots began to boil, he placed potatoes in

one pot, eggs in the second pot, and ground coffee

beans in the third pot.

He then let them sit and boil, without saying a word to

his daughter. The daughter, moaned and impatiently

waited, wondering what he was doing.

After twenty minutes he turned off the burners. He took

the potatoes out of the pot and placed them in a bowl.

He pulled the eggs out and placed them in a bowl.

He then ladled the coffee out and placed it in a cup.

Turning to her he asked. “Daughter, what do you see?”

“Potatoes, eggs, and coffee,” she hastily replied.

“Look closer,” he said, “and touch the potatoes.” She did

and noted that they were soft. He then asked her to take

an egg and break it. After pulling off the shell, she

observed the hard-boiled egg. Finally, he asked her to

sip the coffee. Its rich aroma brought a smile to her

face.

“Father, what does this mean?” she asked.

He then explained that the potatoes, the eggs and

coffee beans had each faced the same adversity– the

boiling water.

However, each one reacted differently.

The potato went in strong, hard, and unrelenting, but in

boiling water, it became soft and weak.

The egg was fragile, with the thin outer shell protecting

its liquid interior until it was put in the boiling water.

Then the inside of the egg became hard.

However, the ground coffee beans were unique. After

they were exposed to the boiling water, they changed

the water and created something new.

“Which are you,” he asked his daughter. “When

adversity knocks on your door, how do you respond? Are

you a potato, an egg, or a coffee bean? “

Moral: In life, things happen around us, things happen

to us, but the only thing that truly matters is what

happens within us.

Which one are you?

You are warrior; you can do it.What you believe; you will

get. Stay motivated and prepared for what you ask or

what you want. I’m concluding my article with this

quotation “Believe in you! Have faith in your abilities!

Without a humble but reasonable confidence in your

own powers you cannot be successful or happy”.

you take.

As you know, Many CAis working with low pay scale.

Only the reason is they don’t ask higher salary because

they don’t know how to ask. They should have to

ensure that they will return more than what they will

receive. That guts will come from confidence,

knowledge and skills. First prepare yourself; you will

get what you want.

But remember this; you still need to ask because the

world isn’t going to ask for you.

Life isn’t a steady escalator. Sometimes getting better

requires that you first get a lot worse. If you can’t admit

to yourself that you suck at something, chances are it

will hold you back from future improvements.

Pride, ego, fear of rejection, call it what you will. The

result is the same. Part of you likes your temporary

holdout in life. It isn’t the work that scares you, or even

the unknown. It’s the fact that in order to move forward

you have to get your hands dirty.

You want to start a business. But you don’t know

anything about business. In fact, you’re pretty sure it

can’t compete with the salary you are already earning.

Your job is comfortable, but it doesn’t make you want to

leap out of bed each morning. Your choice is either to

face the inevitable “I Suck” moment, ignore your pride

and get started with your business. Or go back to

working the job that will eventually suffocate you.

If you want be happy, do work what you love.

Everything should start from zero. Even your path

might be not easy, go through it.You will get real joy.

Once you will make it habits in your life, you will feel

real happiness for whole life.

It’s not easy to get everything on your deadlines. Don’t

get panic with your failure, every failure in your life will

teach you lesson. Stand again and start moving

forward.Life doesn’t end with your failure, better time

yet to come.Stay motivated and bepessimistic;Sooner

or later, you will get what you want.

Once upon a time a daughter complained to her father

that her life was miserable and that she didn’t know

how she was going to make it. She was tired of fighting

and struggling all the time. It seemed just as one

problem was solved, another one soon followed.

Her father, a chef, took her to the kitchen. He filled

three pots with water and placed each on a high fire.


1916

17th & 18thMarch, 2018

Activity NameDate Venue Details

Mock Test for FoundationCourse Students

Venues: Vishwas Nagar, East AzadNagar & PrashantVihar

Fee: Rs. 400/-


17

Forthcoming Programmes of NICASA in the Month of March & April, 2018

18th March, 2018 Seminar on Bank Audit ICAI Bhawan, Vishwas Nagar, Delhi

Fee: Rs. 50/-

19-29 March,2018

10 Days Refresher Courseon GST (in morning)

Venues: Vishwas Nagar /Prashant Vihar

Rs. 800/-

19th March to27th March, 2018

Mock Test for Intermediate(New & Old Course) Students

Venues: Vishwas Nagar, East Azad Nagar & PrashantVihar

RS. 400/- For IPC-I Group (New Course) RS. 400/- For IIPC-I Group (Old Course) S. 400/- For IPC-II Group (New Course)RS. 300/- For IIPC-II Group (Old Course)RS. 800/- For IPC-Both Group (New Course)RS. 700/- For IIPC-Both Group (Old Course)

28th March to 8th April, 2018

Mock Test for FINAL (New & Old Course) Students

Venues: Vishwas Nagar, East Azad Nagar & PrashantVihar

RS. 400/- For FINAL-I Group (New & Old Course)RS. 400/- For FINAL-II Group (New & Old Course)RS. 800/- For FINAL-Both Group (New & Old Course)

25th March, 2018 Workshop on English Speaking & Career Counselling

Venue: Vishwas Nagar

No Fee

1st April, 2018 How to Face CA Exams (IPCC & FINAL)

ICAI Bhawan, Vishwas Nagar, Delhi

No Fee

3rd April, 2018 CPT Fast Track Course ICAI Bhawan, Vishwas Nagar, Delhi

Fee: Rs.5,500/-

All Details are available on NIRC Website (www.nirc-icai.org).

We often find ourselves more lethargic and dull while studying and less effective specially comparing with collage going students, and want to add more creativeness ourselves so here it is, the more creative and oldest style of computation used in mathematics to boost day to day calculations because one day or another we find ourselves with calculator.

Coz a great man says sharing is caring

NICASA nurturing humanity with core efforts

Vedic Mathematics Tricks and ShortcutsVedic Mathematics is a system of mathematics which was invented by Indian mathematician Jagadguru Shri Bharathi Krishna Tirthaji Maharaj in the period between A.D. 1911 and 1918.

It consists of 16 Sutras (methods) and 13 sub-sutras (Sub methods). Vedic Mathematics's methods are highly efficient when it comes to calculation of regular arithmetics like subtraction, multiplication, division of numbers and polynomials, squares, square roots, cubes, cube roots, solving equation, partial fractions, derivatives, conics, etc.

Vinculum Numbers / Vinculum Process:

Vinculum Process forms the very basic requisites for Vedic Mathematics.Vinculum is a Sanskrit word which means a line i.e. bar over number i.e. negative digits. Vinculum numbers are numbers which have atleast 1 digit as a negative digit. Vinculum numbers/digits are also called as Bar numbers/digits.Eg: Vinculum number converted to normal number using Place Value concept.

Another Method of Conversion of Vinculum number to Normal number:

Follow R -> L approach.1. Find 1st Bar digit and takes is 10's complement.

2. a) If next digit is again Bar digit then take its 9's complement. Continue taking 9's complement till non-bar digit is obtained.


18

b) Decrement non-bar digit by 1.1. Continue (1) & (2) till complete number is covered.Conversion of Normal number to Vinculum number:Follow R -> L approach.1. Find 1st digit > 5 & take its 10's complement with a bar over it.2. a) If next digit is again >= 5, take its 9's complement with a bar over it & continue this till a digit <5 is obtained.b) Increment <5 digit by 1.1. Continue (1) & (2) till complete number is covered.Conversion of Vinculum numbers to Normal numbers and vice versa is very important for other concepts of Vedic Mathematics.

Subtraction using Vinculum:

Nikhilam Navatascaramam Dastah:Popularly called as Nikhilam Sutra and English it means as 'All from 9 and last from 10'.Nikhilam Sutra in Multiplication is used whenever the numbers are closer to power of 10 i.e. 10, 100, 1000, ....


19

This creates 3 groups:1. Numbers are less than power of 10 i.e. 10, 100, 1000, ....2. Numbers are more than power of 10 i.e. 10, 100, 1000, ....3. Numbers are present on either side of power of 10 i.e. 10, 100, 1000,

Vedic Mathematics Tricks and Shortcuts

Urdhva Tiryakbhyam (Vertically and Crosswise):Commonly called as Urdhva Tiryak Sutra used in multiplication and its a General method which can be applied to any types of numbers.


20

Example


21

ITS NOT COMPLETED YET , THE SHARP MIND ARE CAPABLE OF STRESS REPELANT, HERE IS ONE THING I.E. WORD SEARCH WHICH WILL HELP YOU TO CHASE STRESS HANDLING CAPABILITY SO LETS START IT

BUT HEY WITH TIME LIMIT : 5 MINUTES.


22

LETS CONTRIBUTE TO BRAINY PART , SHARP BRAIN LEADS TO EASE IN ACHIEVING DESIRED SUCCESS.

SUDOKU :


23

Poem-

Chahe is bar main abkeLadte ladte mar jauPar itni hai meri koshishJitna socha wo kar jau

Na jhuk paae palke meriNa kandhe niche jaaeNa koi sehyogi bankarJine ka matlab sikhlae

Har path ke kaili kankar koMai nij kadmo se paar karuNa gila rahe galti karne kaChahe galti har baar karu

Kathni ko karni karne kaIshwar main tumse var chaahuHaan itni hai meri koshishJitna socha wo kar jaau

Na paau koi man ki baadhaNa tan se kahi main bandh jaauAa jaae sou laakh mushkilenBus ek path par chalta jaau

Behte ansu ke ek bhawar seKaali kismat ko dho daaluBus abhi yahan is ek waqt meinIs jeevan ka matlab paa lun

Naye dhang se naye rang meinBus itna sa nikhar jaaunKi jitni thi meri koshish Bas utna sa kar jaaun


24

One day, a man was passing the elephants, he suddenly stopped, confused by the fact that these huge creatures were being held by only a small rope tied to their front leg. No chains, no cages. It was obvious that the elephants could at anytime break away from their bonds but for some reason, they did not.He saw a trainer nearby and asked why these animals just stood there and made no attempt to get away. “Well, trainer said, “when they are very young we use the same size rope to tie them and, at that age, it's enough to hold them. As they grow up, they are conditioned to believe they cannot break away. They believe the rope can still hold them, so they never try to break free.”The man was amazed. These animals could at any time break free from their bonds but because they believed theycouldn't, they were stuck right where they were.

MORAL: Like the elephants, how many of us go through life hanging onto a belief that we cannot do something, simply because we failed at it once before?

Failure is part of learning; we should never give up the struggle in life.

The Elephant Rope


25

northern india chartered accountants students association ... newsletter_march final.pdf ·...

Documents