For Members only. For Private Circulation only. Price: R10 BCASHarnessing Talent and Providing Quality Service ANewsletter Monthly Newsletter of the Bombay Chartered Accountants’ Society Vol. 17 No. 09 December 2014 Vice-President’s Communiqué Dear Member, LECTURE MEETINGS Greetings! Speaker : Milind S. Kothari, Chartered Accountant As I write this, the morning is much cooler and the rays of the sun Subject : Global Services Transformation - Are Indian CA firms on a winter morning appear more golden. There is a certain calm insulated? that envelopes the city during cooler days. However, the daytime Venue : Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, is still hot and the work in a CA’s life continues unabated, with Mumbai 400 020 assessments in full swing. Day, Date & Time : Wednesday, 21st January, 2015, 6.15 p.m.** In America, the last Thursday of November is celebrated as the Thanksgiving Day. This day is dedicated to offer thanks for the Speaker : Hiro Rai, Advocate blessing of the harvest and of the preceding year. I particularly Subject : Important Income-tax decisions of 2014 like the idea of offering thanks and especially taking time to Venue : Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, remember all the blessings we have in our life–as people, things, Mumbai 400 020 and events. Even if our life seems challenging, somewhat uphill Day, Date & Time : Thursday, 29th January, 2015, 6.15 p.m.** all the way, there is bound to be some amount of ‘blessing’ we can cull out and be grateful for. Gratitude is such an essential Speaker : Satya Poddar, Ph. D. Goods and Services Tax – Curtain Raiser attribute of life that without it, we can have everything but we Subject : Venue : Walchand Hirachand Hall, 4th Floor, IMC, Churchgate, will remain discontented, empty and small. As accountants, Mumbai 400 020 we can take a moment to ‘count’ our blessings for a change. Day, Date & Time : Wednesday, 4th February, 2015, 6.15 p.m.** This will be a deeper audit ‘assertion’ to make our life true and fair! (Continued on page 2) Last week, I happened to meet a well-known entrepreneur of his personal wealth for primary education amounting to who converted a traditional family business into a multi $4 billion or R 25,000 crore. His foundation runs programs billion dollar IT Icon. He is one of the top 10 wealthiest Indians. for elementary education which is 90% controlled by local Although most people knew him for that, that was not really governments. In his speech, he mentioned that although the the only mark of that man. The event where I met him was programmes of his charitable foundation did immense work in organised to celebrate the spirit of philanthropy that he seven states, they always gave credit to the State Governments demonstrated in his lifetime. He had pledged/donated 25% for the accomplishments. (Continued on page 2) PROGRAMMES AT A GLANCE DATE VENUE PAGE NO. Introductory Seminar on Fraud Investigation and Forensic Audit....................17.01.2015........................................Walchand Hirachand Hall, Churchgate ............................... 3 2nd Senior Chartered Accountants’ Meet.......................................................................24.01.2015 to 26.01.2015.........Hotel Courtyard, Marriot, Pune...................................................... 9 13th Residential Leadership Camp/Spiritual Retreat.................................................29.01.2015 to 01.02.2015...... .Leslie Sawhny Centre, Deolali, Nasik................................... 6 Seminar on Permanent Establishment – Critical Aspects .....................................30.01.2015 .....................................Palladium Hotel, Lower Parel ..................................................... 4 Certificate Course for Professional Accountant..........................................................03.02.2015.....................................BCAS Off ice and H. R. College................................................... 5 Action Replay By A Legend! Standard Costing Demystified.................................06.02.2015....................................Jai Hind College Auditorium, Churchgate.......................... 4 Programme on REIT/InvIT............................................................................................07.02.2015.................................Babubhai Chinai Hall, Churchgate................................... 10 2nd Youth Residential Refresher Course.........................................................................19.02.2015 to 22.02.2015........Byke Resort, Goa............................................................................. 8 5th Residential Study Course on IFRS / Ind AS.............................................................19.02.2015 to 21.02.2015.........Leadership Development Academy, Lonavla.................. 6 Corporate Governance and Independent Directors.................................................19.03.2015 to 21.03.2015.......SP Jain Institute, Andehri West .............................................. 7 Lecture Meetings..........................................................................................................................21.01.2015, 29.01.2015, 04.02.2015, 06.02.2015, 13.02.2015.................................................... 1 7, Jolly Bhavan #2, New Marine Lines, Mumbai - 400020. Tel : + 91 22 613 77 600 ; F : + 91 22 613 77 666 ; Email: [email protected] ; Website : www.bcasonline.org ; WebTV : www.bcasonline.tv President: Nitin P. Shingala Hon. Jt. Secretary: Narayan R. Pasari Hon. Treasurer: Mukesh G. Trivedi 98200 57694 | [email protected] 98200 38095 | [email protected] 98201 82456 | [email protected] Vice-President: Raman H. Jokhakar Hon. Jt. Secretary: Sunil B. Gabhawalla 98208 77976 | [email protected] 98213 23921 | [email protected] 1 DECEMBER 2014 (Continued from page 1) These two things really touched me–first was about giving and second about not taking credit for it. So many of us are blessed with LECTURE MEETINGS quite a lot or at least quite a bit, but do we really and truly reach out to those that need it so much more? Moreover, when we give, Speaker: Narendra P. Sarda, Chartered Accountant can we cease to expect any credit for it? This was the blessing of Subject: Standard Costing learning I received last week which I want to share with you all. Venue: Jai Hind College Auditorium, “A” Road, Churchgate, Mumbai – 400 020 Through the BCAS Foundation, we have collected the first target of donation for calamity-hit Kashmir. Although we anticipated a Day, Date & Time: Friday, 6th February 2015, at 5.00 p.m. * longer time to collect the amount, the response was quick and generous! So, here’s a big THANK YOU to those who contributed Speaker: Brahmakumari Shivani so generously. Subject: Anger - The Enemy Within Venue: Jai Hind College Auditorium, “A” Road, Churchgate, The festive spirit of Christmas is already in the air. For some reason, Mumbai – 400 020 these potent words of St. Francis of Assisi come to mind: Day, Date & Time: Friday, 13th February, 2015, 6.15 p.m. ** “O Divine Master, Grant that I may not so much seek (Under the auspices of Amita Memorial Trust and jointly with The To be consoled as to console; Chamber of Tax Consultants) To be understood as to understand; * Fellowship over a cup of tea at 4.30 p.m. To be loved as to love. ** Fellowship over a cup of tea at 5.45 p.m. For it is in giving that we receive; It is in pardoning that we are pardoned; Yours truly, And it is in dying that we are born to eternal life.” Wishing you love, peace and joy, Merry Christmas and best wishes for a happy 2015! Raman H. Jokhakar RIGHT TO INFORMATION CLINIC Advisory Panel : Narayan K. Varma, Adv. A. K. Asher, Hema D. Sampat Clinic Co-ordinator: Ms. Bindu Mistry – 61377624 Foundation operates a Right to Information (RTI) Clinic on a regular basis. The Clinic provides help and guidance to BCAS members as also to non-members, i.e., all citizens, for making applications under the RTI Act and also assists in resolving any related diff iculties on the subject of RTI. The RTI Clinic operates on every 2nd, 3rd and 4th Saturday from 11 a.m. to 1 p.m. The next RTI Clinic days accordingly are 20th and 27th December, 2014 and 10th, 17th, 24th and 31st January, 2015. Please call to obtain a prior appointment. ACCOUNTS & AUDIT CLINIC Advisory Panel : Sanjeev R. Pandit, Himanshu V. Kishnadwala, Jayesh M. Gandhi Clinic Co-ordinator : Ms. Bindu Mistry – 61377624 The next Accounts & Audit Clinic will be held on 3rd January, 2015 from 10.30 a.m. to 11.30 a.m. Persons interested in having their queries pertaining to accounting and auditing issues solved are requested to send the queries by e-mail to [email protected] one week in advance and call to obtain prior appointment, at least a day before the day of the clinic. Please note that the panel will not answer any queries pertaining to tax issues. CHARITABLE TRUST CLINIC Advisory Panel : Ratanshaw J. Damanwala, Shariq M. Contractor, Gautam S. Nayak, Anil J. Sathe, Atul H. Shah Clinic Co-ordinator: Ms. Bindu Mistry – 61377624 The next Charitable Trust Clinic will be held on 2nd January, 2015 from 5 p.m. to 7 p.m. Chartered Accountants and Trustees interested in having their queries solved are requested to send their queries by email to [email protected] and call to obtain a prior appointment, latest by noon on the day of the clinic. Querists are also advised to bring along relevant papers like trust deeds, audited