EIRC 1st January 2016 �

EIRC NEWSLETTERVOL 41 ISSUE : 12 1st FEBRUARY 2016 ` 10/-

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

EASTERN INDIA REGIONAL COUNCIL(Set up by an Act of Parliament)

Regi

onal

Council Writes

Principal Sponsor

Dear Brothers and Sisters,

Greetings to each one of you!

It is nice to be back with my message after a gap of four months during which period, the Election Code of Conduct was in force. Our esteemed members have given their mandate and the same have gracefully accepted.

Congratulations to all the elected members and I am sure they will put in their best for the members and our beloved students of not only this region, but the nation as a whole.

A number of initiatives had been taken during 2015 and a lot needs to be taken to realize our vision. The achievements during the year were the collective wisdom and efforts of the Council, members, employees of this Eastern Region and I am sure, we will continue our efforts to achieve further heights in times to come. In the recent past I had the pleasant privilege of visiting many of the Branches of our Eastern Region to review their activities and progress in addition to discuss about the possible problems faced by our members placed and residing in the suburbs of our Region. The warmth and reception given by them to me was overwhelming, as was their concern for issues relating to the profession, practice and education.

Coming to education, the results of both the Finals and the CPT have been announced while the results of the IPCC Examination is expected by the first of February 2016.

CPE Hrs Activities

EIRC has always been keen in its endeavor to facilitate Members to update themselves, to enrich and enlarge their professional horizon and this is clearly manifested by the high calibre Seminars and Conferences it organizes. Considering the extension of time period for completing the mandatory quota of CPE hours till March 2016, we had scheduled and organised evening programmes many programmes whose details you can find out in Page 3 of this Newsletter apart from a free programme on Investor Awareness on 30th January 2016. I would like to request one and all to attend programmes of varied subjects that would benefit them to hone their professional skills throughout the year rather than attending programmes in the last months to complete their CPE requirements as at times the unpleasant task of communicating “No Spot Registration” bestows upon me.

Friendly Cricket match

The Commercial Tax Deptt has and will continue to play a vital role in our profession – to keep up the good and spirited relationship a cricket match has been played on 17th January 2016. We are also in discussion with

the Registrar of Companies, West Bengal for scheduling a match with their officials also.

Annual Awards 2015

An Annual Day Function has been scheduled for 20th February 2016 (Saturday) at our R Singhi Hall (EIRC Premises), wherein various annual awards to the Branches and Study Circles. I urge upon everyone to please attend in large numbers to make the programme a grand success.

The Old giveth way to the New

Change is inevitable. In a few days, I will lay down my official responsibilities in this Office. I was extremely elated to take over as Chairman in the last

term i.e. the third year of 21st Regional Council and had more than some dreams. Many have been fulfilled, while some are in progress and some would require full completion. I firmly believe that the new 22nd Regional Council formed is highly capable and competent to carry on with the endeavor to place our Region to yet greater heights. I understand how formidable is the task the incoming Chairman and his team is about to undertake. I assure and pledge my full support to him in that task. I wish him all success. May EIRC grow from strength to strength. By the time you would receive this issue of Newsletter, the elections of the Branches spread across the country as well as this Region would be over and I take this opportunity to welcome them in advance to the new assignment and the helm of affairs.

Finally I again express my heartiest thanks and gratitude to all my members and students of our Region for their heartfelt support and affections without which it would not have been so smooth to be in this chair. I have enjoyed and relished every moment of my tenure and this would be a nostalgic moment for me in future for my life. I also thank that all powerful, Almighty to have showered all the blessings which enabled me to work to the best of my abilities.

To share a few lines and themes that have always touched me :-

Observation gives vision. Vision develops objectivity. Objectivity provides tolerance. Tolerance generates love.

My best wishes to all of you.

With warm regards,

CA Pramod Dayal RungtaEditor & Chairman, EIRC of ICAI

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��EIRC 1st February 2016

EIRC 1st February 2016 �

Forthcoming Programme

DAY AND DATE KNOWLEDGE SESSION RESOURCE COORDINATOR VENUE DURATION CPE DELEGATE PERSON HOURS FEES `

EIRC

Note : 1. Please note Online registration closes 1 days before the day of the Seminar. 2. Spot Registration will be taken subject to availability of seats at the venue. 3. Out of the Registration Fees collected for each programme Rs.10 per person would be contributed to Chartered Accountant Benevolent Fund.

DAY AND DATE PROGRAMME DETAILS VENUE DURATION

IMPORTANT DATES

Saturday, 20th February 2016 EIRC Awards 2015 (Details inside in Page 4) EIRC Premises, R Singhi Hall, Kolkata 5.30pm onwards

STUDY CIRCLESTUDY CIRCLE DAY & DATE PROGRAMME SPEAKERS CO- ORDINATOR VENUE DURATION CPE HOUR

Central Kolkata Saturday, Capital Markets Eminent Speakers CA Anup K Sanghai 6, Lyons Range, 3.00pm to 3Chartered Accountants 6th February 09830026214 3rd Floor, Unit-2, 6.00pmStudy Circle 2016 sanghaianup@gmail.com Emami Conference Hall, ACAE Office , Kolkata-700 001

Central Kolkata Friday, Penalties and Prosecution under Advocate Shri Subash CA Anup K Sanghai 6, Lyons Range,Chartered Accountants 12th February the IT Act 1961 Agarwal 09830026214 3rd Floor, Unit-2, 4.30pm to 3Study Circle 2016 sanghaianup@gmail.com Emami Conference Hall, 7.30pm ACAE Office , Kolkata-700 001

DTPA Monday, Discussion on Union Budget/ Eminent Speakers CA Sanjay Bajoria DTPA Conference Hall, 11.00am to 4Chartered Accountants 29th February Finance Bill 2016 933184505 3 Govt Place (West) 3.00pmStudy Circle-EIRC 2016 Income Tax Building, Kolkata-700001

Tuesday, 2nd Recent Developments / Updates on CA Vivek Newatia CA Anirban Datta R Singhi Hall, 5.30pm to 3 80February 2016 International Taxation CA Puja Borar EIRC Premises 8.30pm Spot 100

Thursday, 4th Income Tax Settlement Commission Shri M.K. Mirani EIRC jointly with The Oberoi Grand, 4.30pm – –February 2016 - Provisions & Procedures Chairman, Income Tax MCC Chamber of Kolkata onwards Settlement Commission Commerce & Industry, Eminent Speakers Association of Corporate Advisers & Executives, Direct Taxes Professionals Association

Friday, 5th Interaction Programme with Chief Sri S K Panda, Chief CA Manish Goyal R Singhi Hall, 5.30pm to 3 80February 2016 Commissioner, Service Tax- Department Commissioner, Service Tax EIRC Premises 8.30pm Spot 100 Perspective CA Arun Agarwal

Tuesday, 9th Recent Changes in Companies Act 2013- CA Kamal Bagrodia CA Sunil Kumar Sahoo R Singhi Hall, 5.30pm to 3 80February 2016 MCA Circulars & Notifications CS Ravi Verma EIRC Premises 8.30pm Spot 100

Friday, 12th Seminar on VAT Issues Mr.Rajsekhar Bandopadhyay, CA Ranjeet Kumar R Singhi Hall, 5.30pm to 3 80February 2016 Addl Commissioner, Mr. Khalid Agarwal EIRC Premises 8.30pm Spot 100 Anwar, Joint Commissioner CA Rip Das

Tuesday, 16th Scope of Tally Beyond Accounting CA Suyash Tulsyan CA Subhash Chandra R Singhi Hall, 5.30pm to 3 80February 2016 Saraf EIRC Premises 8.30pm Spot 100

Friday, 19th Seminar on PF, ESI & Labour Laws- CA Vivek Agarwal, CA Anirban Datta R Singhi Hall, 5.30pm to 3 80February 2016 Compliance & Applicability Siliguri EIRC Premises 8.30pm Spot 100

Monday, 29th Live Telecast of Union Budget 2016 CA Barun Ghosh EIRC R Singhi Hall, 11.00am to 2 50February 2016 & Discussion CA Rajarshree Dasgupta EIRC Premises 1.00pm Spot 80

Wednesday, 2nd Seminar on Union Budget Eminent Speakers EIRC Kala Mandir 2.00pm to 6 400March 2016 8.00pm Spot 500

Saturday, 19th Seminar on Bank Audit Eminent Speakers EIRC To be decided 10.00am to 6 1200March 2016 5.00pm Spot 1300

��EIRC 1st February 2016

Forthcoming Programme

STUDY CIRCLE DAY & DATE PROGRAMME SPEAKERS CO- ORDINATOR VENUE DURATION CPE HOURViews Exchange Saturday, Recent case Laws on Service Tax CA Harsh Garodia CA. Kushal Bhuwania Globsyn Hall, BCCI, 4.00pm to 3Chartered Accountants 6th February & Office & Client Management CA Manish Gadia kushal.bhuwania@icai.org 6, N. S. Road, 2nd Floor, 7.00pmStudy Circle- EIRC 2016 With Help of Cloud. 03340084929 Kolkata-700001

Views Exchange Monday, Group Discussion on Live CA Sunil Bhalotia CA. KushalBhuwania, IMAX Lohia Square, 10.30am to 2Chartered Accountants 29th February Budget- 2016 as Presented CA G.R. Gupta kushal.bhuwania@icai.org Unit 1A, 23, 12.30 pmStudy Circle- EIRC 2016 by Finance Minister Sri Arun Jaitley & Others 03340084929 Gangadharbabu Lane, Kolkata-700001

Views Exchange Tuesday, Critical Analysis of Budget – 2016 Eminent Speakers CA. KushalBhuwania, Vidya Mandir Hall, 02.00pm to 5Chartered Accountants 1st March 2016 kushal.bhuwania@icai.org 1, Moira Street, 07.00pmStudy Circle- EIRC 03340084929 Kolkata-700017

VITTA Salahkar Saturday, ICDS – a new outlook to Taxation CA Manoj Tiwari CA Bishnu Basia Barabazar Library, 4.30pm to 3Chartered Accountants 6th February 10/1/1, Syed Salley Lane, 7.30pmStudy Circle- EIRC 2016 Kolkata-700073

VITTA Salahkar Saturday, GST – A revolution in Indirect Taxes CA Hemant Jajodia CA Ajay Gupta Barabazar Library, 4.30pm to 3Chartered Accountants 20th February 10/1/1, Syed Salley Lane, 7.30pmStudy Circle- EIRC 2016 Kolkata-700073

VITTA Salahkar Saturday, Success Mantra for Professionals Prof. Dilip Shah, FCS CA Virat Sharma Barabazar Library, 4.30pm to 3Chartered Accountants 27th February 10/1/1, Syed Salley Lane, 7.30pmStudy Circle- EIRC 2016 Kolkata-700073

VIP Road Chartered Sunday, Concept of Consolidation of CA Sanjay Agarwal, E&Y CA Rajesh Jalan VIPCA Library, 10.00am to 3Accountants Study 21st February Subsidiary & Associated Accounts 9831228811 220 Bangur Avenue, 1.00pmCircle- EIRC 2016 as per Companies Act 2013 Block- A Ground Floor, Kolkata-700055

EIRC 1st February 2016 �

ICAI Notification

New Delhi, 8th January, 2016

NOTIFICATION(Chartered Accountants)

No.54-EL(1)/14/2015: In pursuance of Rule 36 of the Chartered Accountants Election to the Council) Rules, 2006, the Council of the Institute of Chartered Accountants of India is pleased to notify for general information the names (in alphabetical order), membership numbers and places of the members, who have been elected to the Twenty Third Council of the Institute from the constituencies as given below:-

Eastern India Regional Constituency comprising the States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram,

Nagaland, Orissa, Sikkim, Tripura, West Bengal and the Union Territory of Andaman & Nicobar Islands.

Sl. No.

Names Membership No.

Place

1. CA. Agarwal Ranjeet Kumar, FCA 059869 Kolkata

2. CA. Goyal Sushil Kumar, FCA 057534 Kolkata

3. CA. Mitra Debashis, FCA 053649 Guwahati

New Delhi, 8th January, 2016

NOTIFICATION(Chartered Accountants)

No.54-EL(1)/15 /2015: In pursuance of provisions of sub-regulation (10) of regulation 134 of the Chartered Accountants Regulations, 1988 read with rule 36 of the Chartered Accountants (Election to the Council) Rules, 2006 the Council of the Institute of Chartered Accountants of India is pleased to notify for general information the names (in alphabetical order), membership numbers and places of the members, who have been elected to the Twenty Second Regional Councils of the Institute as given below:-

Eastern India Regional Council

Sl.No. Names Membership No. Place

1. CA. Binani Sumit, FCA 057530 Kolkata

2. CA. Datta Anirban, ACA 063625 Konnagar

3. CA. Goyal Manish, FCA 061194 Siliguri

4. CA. Jain Sonu (Ms.), FCA 060015 Kolkata

5. CA. More Nitesh Kumar, FCA 066340 Kolkata

6. CA. Sanghi Sanjib, FCA 059112 Kolkata

[To be Published In Part III Section 4 of The Gazette Of India, Extraordinary Dated 8th January, 2016]

The Institute Of Chartered Accountants Of IndiaNew Delhi – 110 002

[To be Published In Part III Section 4 of The Gazette Of India, Extraordinary Dated 8th January, 2016]

The Institute Of Chartered Accountants Of IndiaNew Delhi – 110 002

SPACE BOOKING FORM – EIRC NEWSLETTER The ChairmanEastern India Regional Council,The Institute of Chartered Accountants of India,7, Anandilal Poddar Sarani, Kolkata – 700071

TARIFF - ADVERTISEMENT IN EIRC NEWSLETTERDear Sir,We have pleasure in booking advertisement space in your EIRC NEWSLETTER to be published for the month of ______________________.Material to be published is enclosed herewithWe enclose a Cheque/Demand Draft No…………………Dated……………Drawn on …………………… …………for Rs………… . . . . .(Rupees………….. …………………..) favouring “ICAI-EIRC” payable at Kolkata for size…………….with preference/preferences (if any)……. . . . . . .Contact Persons : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Name of the Organisation : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Address……………………………………………………………………… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .………………………………………… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Telephone No……………………………… Fax No……………………………Date :Place: Signature

TERMS AND CONDITIONS1. Size - Full page - 18 cm x 27 cm Half page – 18 cm x 13.5 cm2. Rates: Amount Full Page Colour (Inside Front or Back) Rs. 40,000/- Full Page Colour Rs. 35,000/- Half Page (Colour) Rs. 22,000/- Quarter Page (Colour) Rs. 18,000/- Classified (for Firms only) Rs. 5,000/-

3. Discount: (a) 3 insertions a year 5% of the Tariff Rate (b) 6 insertions a year 10% of the Tariff Rate (c) 12 insertions a year 15% of the Tariff Rate + 1 Full Page Colour Advertisement (Complimentary) in the Souvenir of the mega event of Regional Conference of EIRC)

4. Circulation 23,000 (approx.) per issue, (Monthly) reaching Members residing in the states of West Bengal, Odissa and all North Eastern States.5. Dates of Publication: 1st of every month6. Space booking will be subject to first-cum-first served basis. Matter alongwith Cheque/DD must be sent by 15th of every month to Mr. Amit Paul, Sr. Executive

Officer at the above address or email at eircevents@icai.in; amit.paul@icai.in 7. In case of any dispute decision of the Newsletter Editorial Board shall be final.8. The Tariff Rate is w.e.f. March, 2016 issue.

��EIRC 1st February 2016

EICASA

My Dear Students,

At the outset, let me roll out my heartiest wishes for a successful calendar year 2016. I am feeling privileged to be back with my message after a gap of four months and also on the other hand feeling little off mood that that I would not be able to communicate with you after this month, due to change of guard and I would be relinquishing my position as Chairman, EICASA in this month. I had a great time

working with the student fraternity. It has been an overwhelming experience interacting with students and I have bundles of memories to remember and carry with me till my life.

The results of both the Finals and the CPT have been announced while the results of the IPCC Examination are expected by the first of February 2016. While congratulating all the successful students, my message is also for those who could not clear the exams, is not to get disheartened and be ready to face the challenges and adversaries with more grit, determination and fresh energy.

I heartily welcome the new entrants to the CA Fraternity who have clearedthe CPT examination. I wish each one of you the very best of luck on embarking on your journey and achieving your goals. I’d also like to give my best wishes to the students who are awaiting the results of the CA IPCC examinations. May you come out with flying colours.

Another famous adage that “All work and no play makes a boy dull”. In this I congratulate all the members of EICASA team of Guwahati Branch for conceptualizing and organizing an inter EICASA tournament wherein teams formed by Students Association of many Branches of EIRC have participated. My congratulations is for the Cricket Team of EICASA to have become the ‘Runner Up’ and also for all who have taken out time to participate in this tournament.

Thank you students and team of Students Association of both terms 2014-2015 and 2015-2016, for paving me the wonderful and smooth path of my journey which would be matter of rejoice and happiness and will be in my memories ever which has given a eventful tenure and time.

Before I conclude, I wished to share a beautiful phrase of ‘Swami Vivekananda’ –

My faith is in the younger generation, out of them will come my workers; they will work out the whole problem.

Let’s touch base ….. today, tomorrow and forever !!!

Best Regards,

CA Anirban DattaChairman EICASA and Vice Chairman EIRC of ICAI

Extension of date to complete GMCS-I Course by the students registered for articleship training on

or after 1st May, 2012It has been decided to grant extension to students, who were registered for practical training on or after 1st May, 2012 and completed one year of their practical training but not completed the GMCS-I course, are required to complete GMCS-I Course latest by 31st December, 2016.The above students are advised to register at the online portal www.icaionlineregistration.org or contact the nearest Regional Council/Branch for registration in GMCS-I Course and complete the same at the earliest but not later than 31st December, 2016.

Inter-Active Voice Response System (IVRS) At ICAI Bhawan, Kolkata

Members and students are hereby informed that Inter-active Voice Response System (IVRS) at the Institute’s office at Kolkata is functional 24x7 for automated response on telephone calls. To avail the facility, it is requested to call on landline telephone 033-39893989 during regular office hours on all working days between 10.00am and 5.30pm, if the telephone operator is busy, then the call will be diverted to the automated response (IVRS) and also after office hours and on holidays.

Inter EICASA Cricket Tournament at Guwahati Branch of EIRC of ICAI

EIRC 1st February 2016

Student’s Announcement

Students are also welcome to meet the Faculty, in person, to seek their guidance. Personal meeting with the Faculty can be scheduled on any working day at the Noida Office of the Board of Studies. In order to derive the optimum benefit out of such meeting, students are advised to fix a prior appointment with the concerned Faculty.The e-mail ids and telephone numbers of the Faculty of various subjects are given below for the reference of the students:

Sl. No. Subject Faculty E-mail ID Landline No.

1. Accounting (CPT, IIPCC and Final)CA Seema Gupta, Deputy Director seema@icai.in

0120-3045916CA Shilpa Agrawal, Assistant Secretary shilpa@icai.inCA Asha Verma, Executive Officer asha.verma@icai.in

2. Auditing (IIPCC and Final)CA Karuna Bhansali, Assistant Director karuna.bhansali@icai.in

0120-3045925CA Rajeev Sachdeva, Assistant Director rajeev.sachdeva@icai.in

3. Law (CPT, IIPCC and Final)Dr. P. T. Giridharan, Joint Director giridharan@icai.in 0120-3786881Ms. Nisha Gupta, Sr. Executive Officer nisha.gupta@icai.in

0120-3045939CA Shraddha, Executive Officer shraddha.saxena@icai.in

4.

Financial Management (IIPCC)

Dr. N.N. Sengupta, Deputy Director nnsengupta@icai.in 0120-3045919

CA Ashish Gupta, Senior Assistant Director ashish.gupta@icai.in 0120-3045956

CA Deepak Kumar Gupta, Assistant Director deepak.gupta@icai.in0120-3045937

CA Sanjit Lal Sharma, Executive Officer sanjit.sharma@icai.in

Strategic Financial Management (Final)

CA Ashish Gupta, Senior Assistant Director ashish.gupta@icai.in 0120-3045956

Please note that only the mails raising questions within the scope of points (iii) and (iv) above and containing the details specified in (i) above will be duly answered by the Faculty.

E-mail and Telephonic Queries : An Advisory for StudentsIt has always been the endeavour of Board of Studies to facilitate the students, in every possible manner, in their studies as also the preparation for examination. Answering queries of the students is one among the many services being provided by the Board of Studies to its students. Students can seek the answers of their academic queries from the BoS Faculty through emails and other general queries on preparation for examination, applicability of Finance Acts/Pronouncements/ Legislative Amendments etc. either by sending an e-mail or by making a telephone call.It is being observed that many a time it becomes very difficult to give satisfactory replies to the queries for reasons like incomplete information, lack of required clarity, generic nature of the query, queries beyond the scope of Board of Studies etc. In order to ensure that queries raised by the students receive an appropriate response within a reasonable time period, it has been decided to streamline the process and bring out a standardised format for raising queries. In this context, students are advised to note the following:

(i) Students should necessarily provide the following details in their mail: Registration Number Residential Address Name and Address of the Principal and the firm (if undergoing practical training) Level of CA Course (CPT/IIPCC/Final) Attempt Due(ii) The query should be clearly worded and all the relevant information should be provided therein.(iii) BoS Faculty answer academic queries requiring simple explanation of content contained in the latest edition of any of its publications as well

as queries relating to any specific question solved in the latest editions of its Study Material, Practice Manual or any other publication of BoS. Accordingly, the students are advised to confine their academic queries within the scope defined above.

(iv) Apart from academic queries, the Faculty also answer general queries like applicability of Accounting Standards, Standards on Auditing, legislative amendments, Finance Act, Assessment Year etc. for any particular examination, the manner of preparation for examination and presentation of answers etc.

(v) Mail should be marked to the Faculty of the respective subject. Where there are more than one Faculty in the subject, mail should be marked to all of them.(vi) The queries will generally be answered within three - five working days.(vii) Queries can also be asked over telephone on all working days preferably, from 10.30 am to 11.30 am in the morning and from 4 pm to 5 pm in the evening. While

on the call, students may be asked to provide the details given in point (i) above at any point in time.(viii) Queries of general nature relating to applicability of Accounting Standards, Standards on Auditing, legislative amendments, Finance Act, Assessment Year etc. for

any particular examination, the manner of preparation for examination etc may be raised over telephone or through e-mail. However, academic queries should be raised only through e-mail.

(ix) Care should be taken to use an appropriate salutation while addressing the Faculty both in the mail and over telephone.

�EIRC 1st February 2016

Student’s Announcement

E-mail and Telephonic Queries : An Advisory for Students (contd.)

5.Management Accounting /Cost Accounting (IIPCC and Final)

Dr. N. N. Sengupta, Deputy Director nnsengupta@icai.in 0120-3045919

CA Deepak Kumar Gupta, Assistant Director deepak.gupta@icai.in0120-3045937

CA Sanjit Lal Sharma, Executive Officer sanjit.sharma@icai.in

6.Information Technology (IIPCC and Final)

Ms. Sukriti Arora, Assistant Secretary sukriti.arora@icai.in 0120-3045939

7. Direct Taxes (IIPCC and Final) CA Priya Subramanian, Deputy Director priya@icai.in 0120-3045913

8. Indirect Taxes (IIPCC and Final)

CASmita Mishra, Deputy Secretary smita@icai.in

0120-3045906CA Shefali Jain, Assistant Secretary shefali.jain@icai.in

CA Swati Aggarwal, Executive Officer swati.bos@icai.in

9. Strategic Management: (IPCC)

Dr. T. Paramasivan, Joint Director tparamasivan@icai.in 0120-3045917

Mr. Shaleen Suneja, Deputy Director ssuneja@icai.in 011-30110490

Dr. Ruchi Gupta, Sr. Executive Officer ruchi.gupta@icai.in 0120-3045907

10. Economics (CPT) Ms. Prem Bhutani, Joint Director prem@icai.in 0120-3045911

11. Quantitative Aptitude (CPT) Dr. N. V. Ravi, Sr. Executive Officer nvravi@icai.in 0120-3045949

EIRC 1st February 2016 �

Examination Announcement

THE INSTITUTE Of CHARTERED ACCOUNTANTS OF INDIA[ Set up by an Act of Parliament ]

TO BE PUBLISHED I N PART III SECTION 4 OF THE GAZETTE OF INDIA

N O T I F I C A T I O N

No. 13-CA (EXAM)/M/2016: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to notify that the Intermediate (IPC) and Final examinations will be held on the dates at the places provided that sufficient number of candidates offer themselves to appear from each centre.

INTERMEDIATE (IPC) EXAMINATION[As per syllabus contained in the scheme notified by the Council under Regulation 28 e (3) of the Chartered Accountants Regulations, 1988.]

Group-I : 3rd, 5th, 7th & 9th May 2016

Group-II : 11th, 13th & 15th May 2016

(Afternoon Session : 2.00 PM to 5.00 PM) (IST)

FINAL EXAMINATION[As per syllabus contained in the scheme notified by the Council under Regulation 31 (ii) of the Chartered Accountants Regulations, 1988.]

Group-I : 2nd, 4th, 6th & 8th May 2016

Group-II : 10th, 12th, 14th & 16th May 2016

(Afternoon Session : 2.00 PM to 5.00 PM) (IST)

Payment of fees for the examinations should be made by Demand Draft only. The Demand Drafts may be of any Scheduled Bank and should be drawn in favour of The Secretary, The Institute of Chartered Accountants of India, payable at New Delhi only.The Council reserves the right to withdraw any centre at any stage without assigning any reason.

Applications for admission to Intermediate (IPC) and Final examinations are required to be made either online at http://icaiexam.icai.org free of cost (i.e. ` 1000/- for Intermediate (IPC) & Final candidates for the cost of application form shall not be charged if applications are filled in online) or in the relevant prescribed form, copies of which may be obtained from the Deputy Secretary (Examinations), The Institute of Chartered Accountants of India, 'ICAI BHAWAN', Indraprastha Marg, New Delhi - 110002 on payment of ` 1000/- per application form in respect of Intermediate (IPC) and Final Examination candidates. The forms shall also be made available in the Regional and Branch Offices of the Institute and can be obtained there from on cash payment on or from 3rd February, 2016.

Applications together with the prescribed fee by Demand Draft of any Scheduled Bank may be sent so as to reach the Deputy Secretary (Examinations) at New Delhi not later than 24th February, 2016. However, applications will also be received at Delhi Office after 24th February, 2016 and upto 2nd March, 2016 with late fee of ` 600/-. Applications for the students' examinations only duly filled in will also be received by hand delivery at the office of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Delhi, Ahmedabad, Bengaluru, Ernakulam, Hyderabad, Indore, Jaipur, Nagpur, Pune, Surat, Thane and Vadodara upto 2nd March, 2016. Candidates residing in these cities are advised to take advantage of this facility. Applications received after 2nd March, 2016 shall not be entertained under any circumstances.

The candidates who apply online at http://icaiexam.icai.org from 3 rd February, 2016 to 24th February, 2016 and remit the fee online by using either VISA or MASTER Credit/ Debit Card shall not be charged ` 1000/- in case of Intermediate (IPC) & Final examination (i.e. cost of application form fee). They shall however, be required to remit additional ` 600/- towards late fee in case the application online is made after 24th February, 2016 and upto 2nd March, 2016.The fees payable for the various examinations are as under:

INTERMEDIATE (IPC) For Both the Groups / Unit - 9 `1900/- For one of the Groups / Unit 1 to 8 `1200/-

FINAL EXAMINATION For Both the Groups `2700/- For one of the Groups `1500/-

Candidates of Intermediate (IPC) and Final examination opting for Dubai /Abu Dhabi / Muscat are required to remit, US$ 420 and US$ 480 respectively or their equivalent Indian Currency irrespective of whether the candidates appears in a group or in both the groups or in a unit.

Candidates of Intermediate (IPC) and Final Examinations opting for Examination Centre at Kathmandu are required to remit Indian `2700/- and Indian `3600/- respectively or their equivalent relevant foreign currency irrespective of whether the candidates appear in a group or in both the groups or in a unit.

OPTION TO ANSWER PAPERS IN HINDICandidates of Intermediate (IPC) and Final Examinations will be allowed to opt for Hindi medium for answering papers. Detailed information will be found printed in the Information Sheets attached to the relevant application form. For more details visit: www.icai.org

���EIRC 1st February 2016

Recent Judicial PronouncementsIndirect Taxes

EIRC 1st February 2016 ��

���EIRC 1st February 2016

Notification & CircularsIndirect Taxes

D. MCACompiled by : CA MOHIT BHUTERIA

m_bhuteria@yahoo.co.in

FAQs on CSR issued by MCA

MCA vide General Circular no. 01/2016 dated 12th January, 2016 had addressed several queries and issued clarifications on various issues relating to Section 135 of the Companies Act, 2013 through 23 FAQs responses for effective implementation of CSR.

Clarification on whether HUF or its Karta can become a partner or designated partner in Limited Liability PartnershipsMCA vide General Circular no. 02/2016 dated 15th January, 2016 invited reference to General Circular No. 13/2013 wherein in para 2 was stated that “as per section 5 of LLP Act, 2008 only an individual or body corporate may be a partner in a Limited Liability Partnership. A HUF cannot be treated as a body corporate for the purposes of LLP Act, 2008. Therefore, a HUF or its karta can not become designated partner in LLP”, which inadvertently does not mention ‘partner’ in the last sentence. Therefore, it has been clarified that HUF or its Karta cannot become a partner or designated partner in Limited Liability Partnerships.

Section 125 sub-sections (5),(6) and (7) notified

MCA vide Notification no. S.O.125(E) dated 13.01.2016 notified sub-section (5), (6) (except with respect to the manner of administration of the Investor Education and Protection Fund) and (7) of Section 125 of the Companies Act, 2013 with effect from 13th January, 2016.

Further, the Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of meetings and provision for offices and officers) Rules 2016, have also been issued on 13.01.2016.

Establishment of Central Registration Centre for reservation of names under Act, 2013 with effect from 26th January, 2016

MCA notifies the establishment of a Central Registration Centre (CRC) vide Notification S.O.218(E) dated 22.01.2016 which shall have territorial jurisdiction all over India, for discharging or carrying out the function of processing and disposal of applications for reservation of names under the provisions of the said Act. The CRC shall function under the administrative control of Registrar of Companies, Delhi (ROC Delhi), who shall act as the Registrar of the CRC until a separate Registrar is appointed to the CRC. The CRC shall process applications for reservation of name i.e., e-Form No. INC-1 filed along with the prescribed fee as provided in the Companies (Registration of Offices and Fees) Rules, 2014. Processing and approval of name or names proposed in e-Form No. INC-29 shall continue to be done by the respective Registrar of Companies having jurisdiction over incorporation of companies under the Companies Act, 2013 as per the provisions of the Act and the rules made thereunder. The CRC shall be located at Indian Institute of Corporate Affairs (IICA), Plot No. 6, 7, 8, Sector 5, IMT Manesar, District Gurgaon (Haryana), Pin Code-122050.

Further, vide Notification dated 22nd January, 2016, the following amendments have been introduced by the Companies (Incorporation) Amendment Rules, 2016:

1. In the Companies (Incorporation) Rules, 2014 (herein after referred to as the principal rules), in rule 8,-

(i) in sub-rule (2)

(a) sub-clause (ii) of clause (b) shall be omitted;

(b) sub-clause (x) of clause (b) shall be omitted; and

(c) sub-clause (xvii) of clause (b) shall be omitted.

(ii) sub-rule (3) shall be omitted.

RECENT NOTIFICATION & CIRCULARS

A. SERVICE TAXCompiled by : CA VIKRAM KHITAN

vikram@arvsolution.co.inThere was a divergence of view between Para 6.2.1 of the Education Guide 2012 and the CBEC Circular No. 151/2/2012-ST dated 10.2.2012 on how flats handed over to land owners are to be valued for the purpose of levy of service tax. According to the CBEC Education Guide on Taxation of Services, 2012, value of construction service provided to such land owner will be the value of the land when the same is transferred and the point of taxation will also be determined accordingly. However, Circular No. 151/2/2012-ST dated 10.2.2012 states that value of land / development rights in the land may not be ascertainable ordinarily and therefore, the value of these flats would be equal to the value of similar flats charged by the builder/developer from the second category of service receivers.It is directed that the Service Tax assessing authorities should be guided by the said Board Circular dated 10.2.2012 and not the Education Guide.[Instruction No. F.No.354/311/2015-TRU dated 20-01-2016]

B. VATCompiled by : CA VIKRAM KHITAN

vikram@arvsolution.co.inSale of ‘Corn Flour’ made by grinding maize is held taxable at the rate of 5 % under section 16(2)(b)(ii), read with entry at serial No. 46A of Part I of Schedule C, of the VAT Act. [Order dated 06-01-2016 by the Commissioner, Sales Taxes, West Bengal in the case of M/s. Dabur India Ltd.]‘Rolled Oats’ is held to be included under the item “Porridge” and rate of tax applicable to its sale is determined at 5%, vide entry at serial No. 58 of Part I of Schedule C appended to the VAT Act. [Order dated 06-01-2016 by the Commissioner, Sales Taxes, West Bengal in the case of M/s Glaxosmithkline Consumer Healthcare Ltd.](i) Solar thermal device, solar photovoltaic device and combination of solar thermal device and solar photovoltaic device and spare parts of all such devices; & (ii) Solar fans, solar lights, solar pumps and solar lanterns, which run on electricity generated by photovoltaic devices, exempted from payment of Tax [Notification dated 07-01-2016]

C. ODISHA VATCompiled by : CA K K BAJORIA

bajoriaca@rediffmail.com

SRO NO------------In exercise of the powers conferred by sub-section (1) of sectionl02A of the Odisha Value Added Tax Act,2004 (Odisha Act 4 of 200S), the State Government, do hereby alter the entries to Schedule ‘B’ and Schedule ‘C‘ in the following manner, and direct that the same shall come into force on the 1st day of January,2016, namely:-1. In Schedule B, in Part III, for the figure and symbol “13.5%” appearing after

the words “GOODS TAXABLE AT THE RATE OF” the figure and symbol “14.5%” shall be substituted.

2. In Schedule C, for the figure and symbol “25%” appearing in column (3) against serial No.1, the figure and symbol “35%” shall be substituted.

SRO NO-------------In exercise of the powers conferred by sub-section (1) of sectionl02A of the Odisha Value Added Tax Act, 2004 (Odisha Act 4 of 2005), the State Government do hereby alter the entries to Schedule ‘C’ in the following manner, and direct that the same shall come into force on the 5th day of January, 2016, namely:-“In Schedule C, for the figure and symbol “23%” appearing in column (3) against serial No.3A, the figure and symbol “26%” shall be substituted.”

EIRC 1st February 2016 ��

Notification & CircularsIndirect Taxes

(iii) sub-rule (a) shall be omitted.

2. In the principal rules, for Rule 9 the following shall be substituted namely: - “9. Reservation of name - An application for the reservation of a name shall be made in Form No. INC.I along with the fee as provided in the Companies (Registration offices and fees) Rules, 2014 which may be approved or rejected, as the case may be, by the Registrar, Central Registration Centre.”

3. In the principal rules, in rule 36, in sub-rule (12)-

(i) after sub-clause (b), the following shall be inserted.-

‘(ba) After the resubmission of the documents and on completion of second opportunity, if the registrar still finds that the documents are defective or incomplete, he shall give third opportunity to remove such defects or deficiencies;’

Provided that the total period for re-submission of documents shall not exceed a total period of thirty days.

(ii) in sub-clause (c), for the words ‘two opportunities’, the words ‘three opportunities’ shall be substituted.

Revised INC-1 has also been introduced substituting the existing form INC-1.

E. RBI

Compiled by : CA RINKI SHARMArinkisharma123z@gmail.com

RBI NOTIFICATIONS AND CIRCULARS RELATING TO NBFC FROM 31ST DECEMBER-27TH JANUARY, 2016

1. Notification No.DBR. AML.No. 9237/14.06.001/ 2015-16 dated 21/01/2016

Implementation of Section 51-A of Unlawful Activities Prevention Act (UAPA), 1967- Updates to ISIL (Da’esh) & Al-Qaida Sanctions List

Updates to ISIL and Al-Qaida Sanctions list has been made relating to implementation of Section 51-A of Unlawful Activities Prevention Act.

F. FEMACompiled by : CA VIVEK NEWATIA

vnewatia@sjaykishan.comPurchase of foreign exchange from post office

The RBI has vide notification no. FEMA 18(R)/2015-RB [F.NO.1/31/EM-2015]/GSR 1009(E), dated 29th December 2015 permitted purchase of foreign exchange by any person from any post

Definition of Currency

RBI has vide notification NO.FEMA 15(R)/2015-RB [F.NO.1/31/EM-2015]/GSR 1008(E) dated 29th December 2015 has amended the term “currency” to include debit cards, ATM cards and any other instruments that can be used to create a financial liability.

Amendment to the FEM (POSSESSION AND RETENTION OF FOREIGN CURRENCY) REGULATIONS, 2015

RBI has vide notification no. FEMA 11(R)/2015-RB[F.NO.1/31/EM-2015]/GSR 1006(E) dated 29th December, 2015 notified the FEM (Possession and Retention of Foreign Currency) Regulations, 2015. Following limits have been prescribed for possession of foreign currency and coins: -

� Authorised person can possess foreign currency and coins without any limit.

� Foreign coins may be kept by any person without any limits.

� Persons Resident in India can retain foreign currency notes, bank notes and foreign currency travellers’ cheques not exceeding US$ 2000 provided that the same was acquired by them while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India or from any person not resident in India and who is on a visit to India as honorarium or gift or for services rendered in settlement of any lawful obligation or represents unspent amount of foreign exchange acquired by him from an authorised person for travel abroad or was acquired by him by way of honorarium or gift while on a visit to any place outside India.

� A person resident but not permanently resident in India (means a person resident in India for a job or specific assignment, duration of which shall not exceed 3 years) may keep any amount of foreign currency if it was owned by him when resident outside India and which was brought to India according to the regulations made under the act.

Amendment to the Fem (Realisation, Repatriation And Surrender Of Foreign Exchange) Regulations, 2015

The RBI has vide notification no. FEMA 9(R)/2015-RB [F.NO.1/31/EM-2015]/GSR 1005(E) dated 29th December, 2015 amended the FEM (Realization, repatriation and surrender of foreign exchange) Regulations: -

� A person resident in India shall take all reasonable steps to realize and repatriate to India the foreign exchange that has accrued or is due to him and

a. sell it to an authorized person in India, or

b. retain or hold it in account with an authorized dealer in India or

c. use it for discharge of debt or liability denominated in foreign exchange to the extent and in the manner specified by RBI.

� A person being an individual resident in India shall surrender the received /realized /unspent /unused foreign exchange whether in the form of currency notes, coins and travelers-cheques, etc. to an authorised person within a period of 180 days from the date of such receipt /realization /purchase /acquisition or date of his return to India, as the case may be.

� A person not being an individual resident in India shall sell the realized foreign exchange to an authorised person in case of foreign exchange due or accrued as remuneration for services rendered, whether in or outside India, or in settlement of any lawful obligation, or an income on assets held outside India, or as inheritance, settlement or gift, within seven days from the date of its receipt; In all other cases within 90 days from the date of its receipt.

� Any person not being an individual resident in India who has acquired or purchased foreign exchange for any specific purpose does not use the foreign exchange for such purpose declared by him to the authorized person then the same is to be surrendered within a period of 60 days from the date of purchase. In case of purchase by such person for the purposes of travelling abroad the time limit prescribed for returning the unused currency is 90 days from the date of return to India in case of currency notes & coins and 180 days in case of travelers-cheques.

� Nothing in these regulations shall apply to foreign exchange in form of currency of Nepal or Bhutan.

Appointment of Specified Commissioners as Competent Authority u/s 37A Of FEMA, 1999 - Special Provisions Relating to Assets held outside India

The CG has vide notification no. GSR 10(E) [F.NO.A-12011/02/2014-AD.ED.] on 6th January, 2015 appointed the Commissioner of Customs (Appeals) of Delhi, Mumbai, Kolkata and Chennai as a Competent Authority under the said Act.

Amendment to the FEM (Export and Import of Currency) Regulations, 2015

���EIRC 1st February 2016

The RBI has vide NOTIFICATION NO.FEMA 6(R)/RB-2015 [F.NO.1/31/EM-2015]/GSR 1004(E), dated 29-12-2015 amended the Regulations to provide that: -

� A person resident in India may take outside India or may bring into India from any place outside India (while on a temporary visit ) currency notes of GOI and RBI not exceeding Rs. 25000 per person or such amount as may be notified by RBI from time to time. The resident person may take or send outside India, commemorative coins not exceeding 2 each.

� A person not resident in India (other than residents of Pakistan or Bangladesh) may take outside India or may bring into India from any place outside India, currency notes of GOI and RBI not exceeding Rs. 25000 per person or such amount as may be notified by RBI from time to time

� A person may send to or bring from Nepal or Bhutan the currency notes (other than denominations greater than Rs. 100) issued by GOI or RBI. No restrictions for bringing or sending the currency notes of Nepal or Bhutan. When a person is travelling to these specified places then he may take denominations of Rs. 500 or Rs.1000 of Indian currency notes subject to a maximum of Rs. 25000.

� No person shall take or send out of India the Indian coins which are covered by the Antique and Art Treasure Act, 1972.

� No restriction on sending into India foreign exchange in form other than currency notes, bank notes, travelers-cheques and brought into India foreign exchange (other than unissued notes). In case of bringing foreign exchange a CDF form is required to be filled, but when the aggregate value of the foreign exchange in the form of currency notes, bank notes or travellers’cheques brought in by such person at any one time does not exceed US$10,000 (US Dollars ten thousands) or its equivalent and/or the aggregate value of foreign currency notes brought in by such person at any one time does not exceed

US$ 5,000 (US Dollars five thousands) or its equivalent, then no such form is required to be filled.

FEM (Insurance) Regulations, 2015

The RBI has vide notification no.12(R)/2015-RB [F.NO.1/31/EM-2015]/GSR 1007(E) on 29th December 2015 has amended Notification No. FEMA.12/2000-RB, dated May 3, 2000, and made the following regulations-

� A person resident in India may take or continue to hold a health insurance policy issued by an insurer outside India provided the aggregate amount of remittance including the amount of premium does not exceed the limits as prescribed under the liberalized remittance scheme.

� No person shall take out or renew any policy of insurance in respect of any property in India or any ship or other vessel or aircraft registered in India with an insurer whose principal place of business is outside India, except with the prior permission of the Insurance Regulatory and Development Authority of India (IRDA).

� A person resident in India may take or continue to hold a general insurance policy other than those discussed above, or a life insurance policy issued by an insurer outside India, provided that, the policy is held, under a specific or general permission of the Central Government.

v A person resident in India may continue to hold any general insurance policy or a life insurance policy issued by an insurer outside India when such person was resident outside India.

� When the premium due has been remitted from India then the policy holder shall remit the maturity proceeds or amount of any claim due on the policy within a period of 7 days from the receipt thereof

Notification & CircularsFEMA

Young Members Empowerment Committee (YMEC) has been organlsmg various programs / Workshops / Seminars across the country on different topics. With the Aim of imparting the Business Leadership skills, Managerial skills, personality development, network building for career growth, YMEC has initiated an innovated measure to provide a platform to Young CAs to engross themselves directly in the activities of lCAI by Active Participation in YMEC Programs.

Through active participation in YMEC activities, young CAs are getting the chance to showcase their ability and talent in the programs. In order to avail this bright opportunity of active involvement in YMEC’s various Programs, young CAs may submit their area of Interest, choice of time and place of availability across the country along with other details by filling this online form for their role at YMEC portal http://ymec.in/registration-form/ . The interested Members may be called in programme and meetings from time to time as per their interested areas as and when needed throughout the year.

For more details kindly visit www.ymec.in.

Online Registration for Participating in YMEC Activities �

Young Members Empowerment Committee is coming up with Online Mentoring. Mentoring is a process in which the mentor (our senior and experienced members) encourages and advises our young members by sharing their own experiences and knowledge of the profession. Mentoring Programmes realizes the value of Networking to the Young Members and familiarize them with the Corporate/Practice Protocol so that they can provide better service to the Industry/Client.

Mentoring program pairs the experienced professionals and Young Members in order to develop a relationship that can yield insights and opportunities to expand one’s knowledge of career options, developing work-related soft-skills for career progression, or to achieve meaningful goals. Member who wants to become Mentor / Mentee can fill their interested areas for mentoring on YMEC Portal at http://ymec.in/add-online-registration-formentoring/.

For more details kindly visit www.ymec.in.

Online Registration for Mentoring to Handholding the Young Chartered Accountants

ONLINEMENTORING

EIRC 1st February 2016 ��

We pray to the almighty that may his soul rest in peace

EIRC DEEPLY MOURNS THE SAD DEMISE OF

CA BIRESWAR CHAKRABARTIMembership No. 007493

Passed away on 12th November 2015

Work Disposal

WORK DISPOSAL WORK DISPOSAL STATUS OF VARIOUS ACTIVITIES RELEATED TO

MEMBERS SECTION as on 27/01/ 2016

1) New Enrolment 18/01/2016

2) Grant of Certificate of Practice 20/01/2016

3) Grant of Fellow Admission 20/01/2016

4) Firm Registration / Constitution 13/01/2016

5) Reconstitution of Firms 04/01/2016

6) Restoration (Prospective) 21/01/2016

7) Change of Address 05/01/2016

8) Permission of other Engagement 05/01/2016

BOARD OF STUDIES SECTION as on 29/01/2016

CPT Registration 22/01/2016

IPCC Registration 25/01/2016

Final Registration 25/01/2016

By Hand By Post

Issuance of Study Materials - CPT Upto Date 19/01/2016

Issuance of Study Materials - IPCC Upto Date 19/01/2016

Issuance of Study Materials - Final Upto Date 05/01/2016

GMCS Certificate Issuance Upto Date

Orientation Certificate Issuance Upto Date

ITT Certificate Issuance 28/01/2016

Change of Name/Address Upto Date

ARTICLES SECTION as on 27/01/2016

PARTICULARS DATE

New Registration 22/01/2016

Industrial training Registration 27/01/2016

Re-registration 22/01/2016

Termination 18/01/2016

Completion 22/01/2016

Permission to Study 23/01/2016

Supplementary Registration 22/01/2016

Change of Address 27/01/2016

LIBRARY NEWSSome of the latest and useful addition to the EIRC Library

Grievance Redressal Mechanism on Administrative Matters

E-SAHAYATTA is a time bound grievance redressal mechanism hosted on ICAI website for administrative matters. Members & Students are requested to visit www.icai.org to log in their grievances. In this context, members & students are requested to log in their grievances to “correct activity” which has been listed under the E-Sahayataa, so as to avoid delay in resolving such matters/receiving appropriate replies.

In addition to the above, members and students can send their grievances related to administrative matters, to the dedicated e-mail ID grievance.cell-eirc@icai.in. The Grievance Cell will further ensure that all such e-mails received are directed/forwarded to the designated/appropriate officials on daily basis on all working days and also will strive to ensure that solution are provided for such grievances, within a reasonable time.

SL NO

TITLE AUTHOR PUBLISHER YEAR

1 Indian Family Business Mantras

Peter Leach Rupa Publication

2015

2 The Economics of Inequality Thomas Piketty Belknap Harvard

2015

3 The Essays of Warren Buffett Lawrence A Cunningham

Wiley 2015

4 The Alchemy of Finance George Soros Wiley 2015

5 Rebooting India Realizing a Billion Aspiration

Nandan Nilekani

Wiley 2016

6 Guide to Memorandum Articles & Incorporation of Companies

Ramakrishnan Viraraghavan

Lexis Nexis 2016

7 Novel & Conventional Methods of Audit, Investigation and Fraud Detection

Chetan Dalal CCH 2015

8 Convenient Action Continuity for change

Narendra Modi Lexis Nexis 2015

9 Supreme Court on Words & Phases

Dr Gokulesh Sharma

Universal Law Publishing

2015

10 Supreme Court on Latin Aphorisms & Latin Phrases

Anoopam Modak

Universal Law Publishing

2016

Please enrol & enjoy the treasure of knowledge at EIRC Library. For further information call EIRC at (033)30211103/05 or mail us at eirc.library@icai.in.

Announcement

CPE Hours requirement for the Calendar Year 2015 has been extended from 31st December, 2015 to 31st March 2016

���EIRC 1st February 2016

EIRC Events

Seminar on Recent Issues on Companies Act on 8th January 2016

Seminar on Auditing Standards & Form INC-29 on 12th January 2016

L – R: CA Beena Jajodia, CA Manoj Banthia

L – R: Dr. Paritosh Basu, Sr. Professor, NMIMS School of Business Management, CA Pramod Dayal Rungta, Chairman, EIRC, CA Soumi Mitra, CA Navneet Kumar Garg

L – R: CA Vivek Agarwal, CA Pramod Dayal Rungta, Chairman, EIRC

Seminar on Internal Financial Controls – Companies Act 2013 on 9th January 2016

CA Beena Jajodia

Dr. Paritosh Basu, Sr. Professor, NMIMS School of Business Management

CA Vivek Agarwal

CA Manoj Banthia

CA Navneet Kumar Garg

Participants giving Vote of Thanks

Training Programme on Peer Review on 13th January 2016

L – R: CA Ranjeet Kumar Agarwal, Past Chairmain, EIRC, CA Shyam Lal Agarwal, Council Member, ICAI, CA Pramod Dayal Rungta, Chairman, EIRC, CA Atul Gupta, Council Member, ICAI, CA Anirban Datta, Vice Chairman, EIRC, CA Sumantra Guha, Council Member, ICAI

CA Atul Gupta, Council Member, ICAI CA Shyam Lal Agarwal, Council Member, ICAI

EIRC 1st February 2016 �

EIRC Events

Seminar on Developing Entrepreneur Skills by CA on 19th January 2016

Seminar on Direct Taxes on 22nd January 2016

Republic Day Celebration on 26th January 2016

Seminar On LLP – For the CA on 16th January 2016

L – R: CA Pramod Dayal Rungta, Chairman, EIRC, CA M Sathya Kumar

L – R: CA Rittika Adhikary, CA Niraj Kumar Harodia, CA Pramod Dayal Rungta, Chairman, EIRC

L – R: CA Ranjeet Kumar Agarwal, Past Chairman, EIRC, CA Pramod Dayal Rungta, Chairman, EIRC, CA Natwar Thakral, CA Tarun Jamnadas Ghia, Chairman, Direct Taxes Committee, ICAI

L – R: CA Sumit Binani, CA Sanjiv Sanghi, CA Pramod Dayal Rungta, Chairman, EIRC, CA Ranjeet Kumar Agarwal, Past Chairman, EIRC, CA Anirban Datta, Vice Chairman, EIRC, CA Subhash Chandra Saraf, Past Chairman, EIRC, CA Nitesh More

CA Rahul Kumar Modi

CA Rittika Adhikary

CA Tarun Jamnadas Ghia, Chairman, Direct Taxes Committee, ICAI

CA Pramod Dayal Rungta, Chairman, EIRC addressing the gathering

CA M Sathya Kumar

CA Niraj Kumar Harodia

CA Natwar Thakral

CA Sonu Jain along with others in the RD celebrations

��EIRC 1st February 2016

EIRC Events

Cricket Match between EIRC and Commercial Taxes on 17th January 2016

Seminar on Implications of Investigation by Income Tax Department : Current Trend & Priorities on 29th January 2016

Seminar on Investor Awareness on 30th January 2016

Team Captain, CA Anirban Datta, Vice Chairman, EIRC, CA Prasun Kr. Bhattacharyya, Past Chairman, EIRC alongwith all players of Cricket Team of EIRC

Team from Commercial Taxes

L – R: CA Subhash Chandra Saraf, Past Chairman, EIRC, Mr. R S Upadhyay, Principal Director of Investigation –Income Tax, CA Pramod Dayal Rungta, Chairman, EIRC

L – R: Mr Saugata Sengupta, Sr. Executive - MCX Ind. Ltd., Mr. Vibhor Tandon, Asst Vice President, East, MCX Ind. Ltd., Mr. Arunava Chattopadhyay, CA Pramod Dayal Rungta, Chairman, EIRC

Team from Commercial Taxes receiving the Winners and Man of the Match Trophy

CA Jinesh VanzaraCA Subhash Chandra Saraf, Past Chairman, EIRC

Mr. Saugata Sengupta, Sr. Executive - MCX Ind. Ltd.

Mr. R S Upadhyay, Principal Director of Investigation – Income Tax

Mr. Vibhor Tandon, Asst Vice President, East, MCX Ind. Ltd.

EIRC 1st February 2016 ��

���EIRC 1st February 2016

EIRC EVENTSRegistered RN 27144/75 Registered KOL RMS / WB / RMP-227 / 2016

If undelivered please return to : Eastern India Regional Council, The Institute of Chartered Accountants of India, 7, Anandilal Poddar Sarani (Russell Street), Kolkata - 700 071

Owner: The Institute of Chartered Accountants of India, Eastern India Regional Council Printer: Shri Alok Ray, Joint Secretary, The Institute of Chartered Accountants of India, Publisher: Shri Alok Ray, Joint Secretary, The Institute of Chartered Accountants of India Published from : The Institute of Chartered Accountants of India, Eastern India Regional Council, 7, Anandilal Poddar Sarani, P.S.: Shakespeare Sarani, Kolkata - 700 071 Printed from: CDC Printers Pvt. Ltd., Tangra Industrial Estate - II, (Bengal Pottery) , 45, Radhanath Chowdhury Road, P.S. Tangra Kolkata - 700 015 Editor: Shri Pramod Dayal Rungta, Chairman, Eastern India Regional Council, The Institute of Chartered Accountants of IndiaThe Institute does not accept any responsibility for the view expressed in the contributions of advertisements published in the newsletter. Phone: 91-33-30211140/41, Fax: 033-22272317, Website: www.eirc-icai.org, Email : eircchairman@icai.in

BOOK POST

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CA Pramod Dayal Rungta, EditorCA Anirban Datta, Jt. EditorCA Manish Goyal, MemberCA Sunil Kumar Sahoo, MemberCA Ranjeet Kumar Agarwal, MemberCA Subodh Kumar Agrawal, MemberCA Pawan Kumar Lilha, Co-opted Members

CA Sarad Jha, Co-opted MembersCA Anil Kumar Agarwal, Sub Group MemberCA Pradeep Kumar Drolia, Sub Group MemberCA Rajendra Kumar Parakh, Sub Group MemberCA Manoj Digga, Sub Group MemberCA Santosh Kumar Dokania, Sub Group MemberCA Binod Kumar Agrawal, Sub Group Member