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

Association News

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

Students : Committee
A student's study circle meeting was held on Wednesday, 27th February, 2002 at Associations Dadar office at 3.30 p.m. on the topic of 'Valuation of Perquisites'. Group Leader was Mr. Amit Haria, student member of the Association and article clerk of M/s. Hemraj Chheda & Co. and Chairman was Shri Paras Savla, C.A..

Group Leader discussed different kinds of perquisites and its valuation in different situations and its taxability.

Chairman quoted I. T. Rules for different perquisites and added case laws wherever required. He also said that some of the practical problems and anomalies require clarifications from CBDT. He answered all the querries raised by participants.

In all 22 student members attended the meeting. The meeting was ended with vote of thanks to chairman & group leader.

Programme Committee

Program Committee :
A Free Seminar on the Union Budget 2002-2003 was held in Gujarati on 9th March, 2002, at Damodar Hall, Parel, Mumbai - 12, between 9.30 a.m. to 1.15 p.m. Around 800 participants were present.

Shri Pinakinbhai Desai (C.A.) explained various proposals of the Finance Bill, 2002 in his own simple and lucid language. The live examples with a touch of humour and replies to the questions raised were well received by the participants present there.

Shri R. B. Popat (C.A.) explained various proposals on the excise Duty of the Union Budget 2002. He also answered satisfactorily, the questions raised by the participants.

Shri Nishid Shah (C.A.) made very impressive powerpoint presentation on the sectoral effect of the Union Budget 2002 and its impact on the capital market.

He also guided the audience on the principles on which the investment in capital market should be made.

All the participants present were given free copy of an Association's Gujarati publication on the Union Budget, 2002. All the participants present felt that it was an informative and educative seminar.

Study Circle Committee

Study Circle Committee :
1 Study Circle meeting on "Taxation & Registration of Charitable Trust" was held on 22nd February 2002, Friday at 6.00 p.m. at Association's office. Shri Ketan Rambhia (C.A.) was Group Leader and it was chaired by Shri Anil Sathe (C.A.) The meeting was attended in by 28 members.

The Group leader discussed various issues relating to taxation of charitable trust, which are relevant to us in our day to day practice. The chairman analysed in details important issues. The member present were benefited from his sharing on practical experience.

Active participation of all the members made the meeting live. The meeting ended with a well deserved vote of thanks to the both the chairman & the group leader.

2 Study Circle Meeting on Finance Bill - 2002 was held at Association's office at Dadar on 15th March 2002, Friday, at 5.30 p.m. The Meeting was attended by 27 members. Shri Praful Poladia C.A. led the meeting like a seasoned batsman. An excellent detailed discussion took place on various amendments proposed in the Finance Bill - 2002. In Group Leader's opinion, certain provisions like 100% utilization of receipts of the trust in the 1st year itself, adopting the value taken by State Government for charging the stamp duty as value for capital gains tax, etc. are impracticable and needs relook. He also opined that supplementary partnership deeds may have to be prepared for change in rate of interest to be paid to partners.

The meeting was concluded with a vote of thanks to the group leader.

 

Members' & Public Relation Committee :
1. Kutchi Medicos (An association of Medical Professionals of Kutchi Community) had organised their annual conference for their members on 17th February, 2002, Sunday at Mysore Association Hall, Matunga Mumbai - 400 019.

One of our members Shri Mukesh Dedhia had delivered a talk on the subject of Investment Planning. Inspite of time allotted being short, his talk was well received by the members of Kutchi Medicos. They expressed that more such interaction should take place between the two contemporary organisations.

2. The booklet in Gujrati on Union Budget 2002 was published and released on 4th March 2002. The booklet was ready within 4 days of presentation of budget proposals by the Hon. Finance Minister in the Parliament. The task was made possible due to hard work put in by the various members of our association.

At the budget seminar 837 copies of the booklet were distributed free to those who attended the seminar.

The sale price of booklet was Rs. 20 for set of 5 booklets and Rs. 5/- for single copy.

Forth Coming Events
Study Circle Committee

1)

Day and Date	:	Friday 26th April, 2002
Time	:	6.00 p.m.
Venue	:	Association's Office at Dadar
Topic	:	T.D.S. Some Issues
Group Leader :	:	Mr. Rakesh Vora, C.A.
Chairman	:	Mr. A. R. Krishnan, C.A.

2)

Day and Date	:	Friday 17th May, 2002
Time	:	6.00 p.m.
Venue	:	Association's Office at Dadar
Topic	:	Sales Tax Budget
Group Leader :	:	Mr. Bharat Gosar, C.A.
Chairman	:	to be announced

The following is a statement of ownership and other particulars about the CVO CA's News & Views as required under Rule 8 of the Registration of Newspapers (Central) Rule 1956.

FORM IV (SEE RULE 8)

1.	Place of Publication	:	CVO Chartered & Cost Accountants Association 304, Jasmine Apartment, D. S. Phalke Road, Dadar (E), Mumbai - 400 014.
2.	Periodicity of Publication	:	Bi - Monthly
3.	Printer's Name (Whether citizen of India (If foreigner, state the country of origin) Address	: : :	Shri Manoj C. Shah Yes 101, Bhaveshwar Complex, Vidyavihar (W), Mumbai - 400 086.
4.	Publisher's Name (Whether citizen of India (If foreigner, state the country of origin) Address	: : :	Shri Manoj C. Shah Yes 101, Bhaveshwar Complex, Vidyavihar (W), Mumbai - 400 086.
5.	Editor's Name (Whether citizen of India (If foreigner, state the country of origin) Address	: : :	Shri Ramesh K. Chheda Yes 160, D. N. Road, Esplanade School Building, Room No. 7B, 3rd floor,Fort, Mumbai - 400 001.
6.	Name and address of individuals who own the newspaper and partners or shareholders holding more than one per cent of the total capital.	:	CVO Chartered & Cost Accountants Association 304, Jasmine Apartment, D. S. Phalke Road, Dadar (E), Mumbai - 400 014.

I, Shri Manoj C. Shah hereby declare that the particulars given above are true to the best of my knowledge and belief.

Sd/-

Signature of the Publisher

(Manoj C. Shah)

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

Vol.5 No. 4 mar. - Apr. 2002