C.V.O. Chartered & Cost Accountants' Association

Association News

Compiled by : Shri Ketan S. Rambhia (C.A.)

Events In Retrospect

Programme Committee
The Programme Committee organised the paid seminar in Gujarati on the topic of T.D.S. & Survey under the Income-tax Act, for the benefit of general public on 7th December, 2002 at Damodar Hall, Parel, Mumbai. The seminar attracted lot of attention of general public at large and was a success in all the aspects.

The seminar was divided into three parts. Shri Haresh Chheda, CA addressed the gathering on some of the crucial aspects of the provisions of T.D.S. under the Income-tax Act. He explained to the members, with the help of PowerPoint Presentation, the intricacies of the topic. Shri Chetan Karia, CA spoke on the provisions of Survey under the Income-tax Act and gave practical hints to the gathering for facing survey action. The talk given by both the speakers was appreciated by one and all.

After the presentation by both the speakers, they answered pre-set querries on both the topics, amounting in all to 42, to the satisfaction of the participants.

The material in the form of two booklets on the topics of the seminar, containing write-up on the topics and pre-set questions was well received. The contribution to the booklet on T.D.S. was done by S/Shri Dilip Gosar, Rakesh Vora and Haresh Kenia and to the booklet on Survey by S/Shri Hashmukh Dedhia, Haresh Kenia and Anish Pasad.

STUDY CIRCLE COMMITTEE

1. A Study Circle Meeting on Assessment Proceedings under The Income Tax Act, 1961 was held on 20th December, 2002. Our Past President Shri Hiten Gada led the meeting. 60 participants attended the same.
Shri Hiten Gada discussed in detail the provisions of assessment proceedings. He also pointed out what care to be taken when submissions are made. As regards current scenario of scrutiny assessments various practical issues were deliberated by the group.
The meeting ended with a vote of thanks.

2. A Study Circle Meeting on Sec. 58A , Sec 297 & Sec 299 of the Companies Act, 1956 was held on 31st January, 2003. Shri Rajesh Chheda (C.A.) led the meeting & Shri Sunil Dedhia (C.A.& C.S.) chaired the meeting.
The group leader analysed, discussed & explained the above provisions in detail. The Chairman also shared his practical experience & resolved various issues raised during the meeting.
The meeting ended with a vote of thanks

Student Committee
1 Study Circle Meeting on the subject of `Bank Audits' was held on Saturday, 21.12.2002. The meeting was led by the student Shri Jignesh Gosar and chaired by Shri Paras Savla C.A. In all 52 student members have attended the meeting.The subject and the presentation was appreciated by one and all.

2 A full day Students' Conference was held on Saturday January 4, 2003 at Napoo Hall, Matunga. In all 210 students actively participated. Conference was divided into three sessions.

Shri Vipul Chokshi, Chairman of W.I.R.C. and Shri Pankaj Jain, Central Council Member of our institute and Vice-Chairman of Board of Studies graced the occasion by inaugurating the same.

Shri Sachin Gala and Shri Kekin Savla presented the paper on 'Assessment Procedure Under Income Tax Act' which was chaired by Shri Hiten Gada - C.A. (Past President of our Association).

Kum. Bhakti Soni and Shri Samyak Dedhia presented paper on 'Issues in Recent Accounting Standards' which was chaired by Shri Ketan Saiya - C.A.

The debate and quiz competition was also held. All students enjoyed the conference, which was full of knowledge and fun.

PROFESSIONAL DEVELOPMENT & REPRESENTATION COMMITTEE

11TH RESIDENTIAL REFRESHER COURSE was held at Anandritz, Matheran on 10-11-12 January, 2003. In all 107 participants attended.
Shri Gautam Doshi, C.A. inaugurated the RRC and delivered his key note address on "Profession in the next decade - Opportunities & Threats". It was followed by a lively & vibrant question answer session wherein Shri Gautambhai shared a lot of precious information on the functioning of the Big CA firms and his views as to the areas of practise that should do well in the years to come.

Shri T N Manoharan (CA from Madras) presented the paper on "Case Studies in Taxation" and Shri Pradip Kapasi (CA from Mumbai) presented the paper on " Real estate Transactions - Tax & other Issues"

Shri Manoharan covered live and actual case studies which are very useful in our day to day practise. He gave an excellent exposition at the assembly session on the issues covering the case studies. Shri Pradipbhai's paper on "Real Estate Transactions - Tax & other Issues" covered the topic exhaustively and was appreciated by all. His paper would be a very useful guide to the members for practicing/ advising on the related matters.

Active participatiWestern India Region of the members, mammoth efforts of the group leaders and proper guidance of the moderators made group discussion on both the papers very interactive.

The RRC ended on a happy note, with members gaining knowledge, relaxation and a joyful companionship of the fellow members.

EMERGING AREAS &
ALLIED LAWS COMMITTEE

Two days workshop on Project Finance Consultancy was organised by Emerging Areas and Allied Laws Committee of our association jointly with our parent body the Western India Regional Council of the ICAI on Saturdays the 18th and 25th of January, 2003.

The said event received an over whelming response and we had to refuse enrollment to many members. In all 230 members attended the workshop where total nine faculty members presented their talk.

All the speakers excelled in their presentation and they imparted very good information and knowledge on the subjects to the participants who in turn enriched their knowledge. In all, the participants were well satisfied having attended this workshop.

Forthcoming Events

Programme Committee

Two Seminars in Gujarati

1. Annual Free Budget Seminar for Public in Gujarati:

Day, Date : Saturday 8th March, 2003 Time : 9.30 am to 1.30 pm Venue : Damodar Hall, Parel, Mumbai - 13 Topics & : Finance Bill : Direct Tax Proposals Speaker : Shri P.D. Desai, CA Capital Market - Sectorial Analysis Shri Nilesh Shah - CIO, Templeton M.F.

2. Seminar in Gujarati on VAT:

Day, Date : Saturday 5th April, 2003 Time : 9.30 am to 1.30 pm Venue : Damodar Hall, Parel, Mumbai - 13 Speaker : To be announced Charges per person : Rs. 150/- per person

Study Circle Committee

Day, Date : Tuesday, 11/03/2003 Time : 6.00 p.m. Venue : Devadiga Centre, 1st Floor, Hindtej Bldg, D.S.P. Road, Next to Hind Rajasthan Bldg., Dadar(E), Mumbai - 400 014. Subject : Finance Bill, 2003 Speaker : Shri Praful Poladia, C.A. Remark : Members are requested to join for tea and fellowship before the meeting.

Day, Date : Friday, 28/03/2003 Time : 6.00 p.m. Venue : Association Dadar Office Subject : Bank Branch Audit Speaker : Shri Vasant Gala, C.A.

EMERGING AREA & ALLIED LAWS COMMITTEE

Day, Date : Friday & Saturday, 4th & 5th April,2003 Time : 10.00 a.m to 6.00 p.m. Venue : J.S. Lodha Auditorium, Anveshak, WIRC. Subject : Workshop on Project Finance Consultancy Fees : Rs. 1100/- for members enrolled after 1-4-97 Rs. 1250/- for other members Rs. 1500/- for Non-members Remark : Jointly organised with WIRC of ICAI

C.V.O. CA's News & Views

Vol.5 No.3 Jan - Feb 2003