Goa Branch Newsletter April 2015 1 The Institute of Chartered Accountants of India (Set up by an Act of Parliament) Goa Branch of WIRC April 2015 InsIde… Managing COMMITTEE EDITORIAL BOARD For Members only Chairman‘s Communiqué Branch Activity Report Important Notifications & Updates Forthcoming events Chairman: CA. Kiran K. Kharangate Vice-Chairman: CA. Yeshwant V. Kamat Secretary: CA. Vinesh R. Pikale Treasurer: CA. Kedar R. Kenkre Members: CA. Naveen G. Daivajna CA. Anup R. S. Borkar CA. Kedar R. Kenkre CA. Kiran K. Kharangate CA. Pooja Bandekar CA. Jovilyn Pereira e Dalgado
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Goa Branch Newsletter
April 2015
1
The Institute of Chartered Accountants of India (Set up by an Act of Parliament)
Goa Branch of WIRC
April 2015
InsIde…
Managing
COMMITTEE
EDITORIAL
BOARD
For Members only
Chairman‘s Communiqué
Branch Activity Report
Important Notifications &
Updates
Forthcoming events
Chairman:
CA. Kiran K. Kharangate
Vice-Chairman:
CA. Yeshwant V. Kamat
Secretary:
CA. Vinesh R. Pikale
Treasurer:
CA. Kedar R. Kenkre
Members:
CA. Naveen G. Daivajna
CA. Anup R. S. Borkar
CA. Kedar R. Kenkre
CA. Kiran K. Kharangate
CA. Pooja Bandekar
CA. Jovilyn Pereira e Dalgado
Goa Branch Newsletter
April 2015
2
Dear Members,
It is indeed a priviledge to communicate through this newsletter as the 34th
Chairman of the
Goa Branch of WIRC of ICAI and express my gratitude for honouring me with this
esteemed and coveted position. I also wish to thank my predecessor-in-office CA. Naveen
Daivajna who has guided and supported me during my tenure as Vice-Chairman of the
Branch and as Chairman of Goa Branch of WICASA in the year 2014-15.
By the time this Newsletter reaches you, most of you would be all immersed in the slogging
work of Bank Branch Audits. I wish you all the best for timely completion of the audits
given the stringent timelines and volume of work involved. The month of March was power
packed with seminars like the Budget Talk by Dr. Girish Ahuja, Talk on Service Tax and
Cenvat Proposal in Budget 2015 by CA. Parimal Kulkarni and the Bank Branch Audit
Seminar for the members.
I am delighted to inform you that Goa Branch has been awarded the "Certificate of
Appreciation" under Medium Branch Category by WIRC for the year 2014 and the Goa
Branch of Western India CA Students Association (WICASA) has been awarded the
"Certificate of Appreciation" under Micro WICASA branch category in the region for the
year 2014. The said certificates were presented during the Members Meet by the Hon'ble
President CA. Manoj Fadnis and Hon'ble Vice-President CA. Devaraja Reddy at Mumbai
on March 14, 2015.
Going by the President of ICAI, CA. Manoj Fadnis‘s motto ‘Spearheading Professional
Excellence’ we have drawn an Action Plan for the coming year. I assure you all that we at
the Managing Committee shall continue to work in unison towards meeting all its targets,
thus bringing greater glory to our branch. To all my colleagues and seniors in the profession,
I seek your unstinted support, suggestions and blessings in all our future endeavors as you
have in the past. Once again, thank you all and I look forward to a great year ahead.
I end this message with a thought provoking quote by Omar Nelson Bradley ―We need to
learn to set our course by the stars, not by the lights of every passing ship.” If our aim is
high and true there is nothing to stop our growth.
With Warm Professional Regards,
Forever, yours in service,
CA. Kiran K. Kharangate
Chairman
ChaIrman’s communiqué
Goa Branch Newsletter
April 2015
3
Activities organised by the Branch from 1st January to 31
st March, 2015
Branch Activity Report
Date Programme / Venue Speakers No. of
Participants
CPE
Hrs.
17.01.15 A CPE Talk Recent Notification on Goa VAT
Rules, 2005 & Issues in Goa VAT Audit at GCCI
Hall, Panaji
CA. Sandip Bhandare 163 3
24.01.15 Sports Meet for CA students at Multipurpose
Sports Complex (SAG), Fatorda, Margao, Goa
146 Nil
31.01.15 Annual Cricket Match at Arlem Grounds, Margao
120 Nil
07.02.15 National Conference on accounting, Income Tax
& Audit for Housing Co-operatives
Organized by Committee for Co-Operatives and
NPO Sectors in collaboration with National
Cooperative Housing Federation of India
The Institute of Chartered Accountants of India
(ICAI), New Delhi in Collaboration with
National Co-Operative Housing Federation of
India (NCHF)
hosted by Goa Housing Federation along with
Goa Branch of WIRC of ICAI. At Hotel Fidalgo
Inauguration function
Shri. Mahadev Narayan Naik – Hon‘ble Minister
for Cooperation, Government of Goa
Shri. S. N. Sharma, MLA, Chairman, National
Cooperative Housing Federation of India, Former
Cabinet Minister (Government of Madhya
Pradesh & Chhattisgarh)
Shri. Narayan Sawant – Register of Cooperative
Society
CA. Rajkumar S. Adukia - Chairman, Committee
for Cooperatives & NPO Sectors, ICAI
CA. R. K. Pikale, Chairman, Goa Housing
Federation, Past Chairman, Goa Branch
Income tax Compliance for Cooperative Housing
Societies.
Accounting by housing societies
Importance of Internal Control & Internal Audit in
Cooperative Housing Societies & Audit
Compliance in Cooperative Housing Societies
Service tax and Vat Compliances for Cooperative
Housing Societies
Case studies & practical Issues related to
Cooperative Housing Societies
CA. Vijay P Joshi
CA. Ramesh Prabhu
CA. Chandrasekhar V
Chitale
Adv. Monarch Bhatt
170 4
Goa Branch Newsletter
April 2015
4
Branch Activity Report
Date Programme / Venue Speakers No. of
Participants
CPE
Hrs.
11.02.15
To
28.02.15
GMCS Course – 1 at Goa Branch Premises 24 Nil
02.03.15 Annual Budget Talk at GCCI Hall, Panaji
Presentation on Direct Tax Provisions in the
Budget
Presentation on Indirect Tax Provisions in the
Budget
CA. Deepa Dalal
CA. Chirag Bhat
120 Nil
06.03.15 A CPE Talk on Analysis of Budget 2015 at Hotel
HQ, Vasco
CA. Dr. Girish Ahuja 145 3
12.03.15 Talk on Service tax and Cenvat proposals in
Budget 2015 at GCCI Hall, Panaji
CA. Parimal Kulkarni 111 2
20.03.15 Seminar on Bank Branch Audit at EDC Hall
Panaji
Audit Report, LFAR (Other than Advances),
Other Certification and Documentation
Audit of Advances (Funded & Non Funded)
including Reporting requirements in LFAR
Income Recognition, Asset Classification and
Provisioning(NPA)
CA. Atul Bheda
CA. Shriniwas Joshi
CA. Ketan Saiya
107 6
24.03.15 Talk on ―New Scheme of Education and Training
for CA Students” at Menezes Braganca Hall,
Panaji, Goa
CA. Satyaprakash
Kamath
60 Nil
25.03.15 Students Seminar on Central Excise & Customs at
CA. Naveen G. Daivajna, Immediate Past Chairman, Goa Branch, welcoming the delegates and inaugurating at the CPE Talk on Recent Notification on Goa VAT Rules, 2005 & Issues in Goa VAT Audit held on 17
th January 2015 at GCCI Hall, Panaji, Goa. Seated on the dais -
from left to right CA. Sandip Bhandare Faculty & CA. Kiran Kharangate, Chairman, Goa Branch
Participants at the CPE Talk on Recent Notification on Goa VAT Rules, 2005 & Issues in Goa VAT Audit held on 17
th January 2015 at GCCI
Hall, Panaji, Goa. .
CA. Anup Borkar awarding the winners at the WICASA Sports Meet for CA students held on 24th January 2015 at Multipurpose Sports Complex (SAG), Fatorda, Margao, Goa
CA. Sandip Bhandare, Faculty addressing the participants at the CPE Talk on Recent Notification on Goa VAT Rules, 2005 & Issues in Goa VAT Audit held on 17
th January 2015 at GCCI Hall, Panaji, Goa.
Students taking part in the Sports Meet for CA students held on 24th January 2015 at Multipurpose Sports Complex (SAG), Fatorda, Margao, Goa
CA. Anup Borkar awarding the winners at the WICASA Sports Meet for CA students held on 24th January 2015 at Multipurpose Sports Complex (SAG), Fatorda, Margao, Goa
Goa Branch Newsletter
April 2015
17
Retired DGIT, Shri G.P. Prabhu presenting the winners trophy to North Income tax team at the Annual Cricket Match between Chartered Accountants & Income Tax Officials held on 31st January 2015 at Arlem Grounds, Margao, Goa.
Shri. Mahadev Narayan Naik – Hon’ble Minister for Cooperation, Government of Goa, lighting the traditional lamp at the Inauguration of National Conference on Accounting, Income Tax & Audit for Housing Co-operatives held on 7th February 2015 at Hotel Fidalgo, Panaji, Goa in the presence of CA. R. K. Pikale, Chairman, Goa Housing Federation & Past Chairman, Goa Branch, CA. Naveen Daivajna, Imm. Past Chairman, Goa Branch, Dr. M. L. Khurana, Advisor , National Cooperative Housing Federation of India, CA. Rajkumar S. Adukia - Chairman, Committee for Cooperatives & NPO Sectors, ICAI, Shri. S. N. Sharma, MLA, Chairman, National Cooperative Housing Federation of India, Former Cabinet Minister (Government of Madhya Pradesh & Chhattisgarh) , Shri B. S. Manhas, NCHF.
.
CA Ramesh Prabhu, Faculty addressing at the National Conference on Accounting, Income Tax & Audit for Housing Co-operatives held on 7
th
February 2015 at Hotel Fidalgo, Panaji, Goa.
Retired DGIT, Shri G.P. Prabhu presenting the winners trophy to North CAs team at the Annual Cricket Match between Chartered Accountants & Income Tax Officials held on 31st January 2015 at Arlem Grounds, Margao, Goa.
CA. R. K. Pikale, Chairman, Goa Housing Federation & Past Chairman, Goa Branch welcoming the delegates at the National Conference on Accounting, Income Tax & Audit for Housing Co-operatives held on 7th February 2015 at Hotel Fidalgo, Panaji, Goa. Seated on the dais - from left to right Dr. M. L. Khurana, Managing Director , National Cooperative Housing Federation of India , Shri B. S. Manhas,NCHF ,Shri. S. N. Sharma, MLA, Chairman, National Cooperative Housing Federation of India, Former Cabinet Minister (Government of Madhya Pradesh & Chhattisgarh), Shri. Mahadev Narayan Naik – Hon’ble Minister for Cooperation, Government of Goa, CA. Rajkumar S. Adukia - Chairman, Committee for Cooperatives & NPO Sectors, ICAI, CA. Naveen Daivajna, Imm. Past Chairman, Goa Branch.
Participants at the National Conference on Accounting, Income Tax & Audit for Housing Co-operatives held on 7
th February 2015 at Hotel
Fidalgo, Panaji, Goa
Goa Branch Newsletter
April 2015
18
CA. Satyaprakash Kamath addressing the students at the GMCS Course -1 held between 11
th to 28
th February 2015 Goa Branch
Premises, Panaji, Goa
Mr. Narayan Bandekar, President of GCCI, addressing the audience at the Budget Talk organized jointly with Goa Chamber of Commerce & Industry on 2
nd March 2015 at GCCI hall, Panaji. Seated on the dais -
from left to right CA. Sandip Bhandare, Past Chairman, Goa Branch & Vice President of GCCI, CA. Deepa Dalal, Faculty, CA. Kiran K. Kharangate, Chairman, Goa Branch, CA. Chirag Bhat Faculty, CA. Vinesh R. Pikale, Secretary, Goa Branch.
Participants at the Budget Talk held on 2
nd March 2015 at GCCI Hall,
Panaji.
CA. Santosh Kenkre addressing the students at the GMCS Course -1 held between 11
th to 28
th February 2015 Goa Branch Premises, Panaji,
Goa
CA. Kiran Kharangate, Chairman, Goa Branch, presenting a momento to CA Deepa Dalal,Faculty at the Budget Talk organized jointly with Goa Chamber of Commerce & Industry on 2
nd March 2015 at GCCI hall,
Panaji
CA. Kiran K. Kharangate, Chairman, Goa Branch, welcoming CA. Dr. Girish Ahuja, Faculty at A CPE Talk on Analysis of Budget 2015 held on 6
th March 2015 at Hotel HQ, Vasco, Goa
Goa Branch Newsletter
April 2015
19
CA. Parimal Kulkarni, Faculty addressing at the Talk on Service tax and Cenvat proposals in Budget 2015 held on 12
th March 2015 at GCCI
Hall, Panaji, Goa
CA. Vinesh R. Pikale, Secretary, Goa Branch welcoming the participants and inaugurating the Seminar on Bank Branch Audit held on 20
th March 2015 at EDC Hall, Panaji, Goa. Seated on the dais CA.
Kiran K. Kharangate, Chairman, Goa Branch & CA. Atul Bheda, Faculty.
CA. Mangesh Kinare, Past Chairman WIRC & RCM addressing the participants at Seminar on Bank Branch Audit held on 20
th March 2015
at EDC Hall, Panaji, Goa. seated on the dais CA. Shriniwas Joshi Past Chairman WIRC & RCM & CA. Vinesh R. Pikale, Secretary, Goa Branch
Participants at the Talk on Service tax and Cenvat proposals in Budget 2015 held on 12
th March 2015 at GCCI Hall, Panaji, Goa
CA. Atul Bheda, Faculty addressing the participants at Seminar on Bank Branch Audit held on 20
th March 2015 at EDC Hall, Panaji, Goa.
CA. Shriniwas Joshi Past Chairman WIRC & RCM addressing the participants at Seminar on Bank Branch Audit held on 20
th March 2015
at EDC Hall, Panaji, Goa. Seated on the dais CA. Shravan Swarup.
Goa Branch Newsletter
April 2015
20
CA. Satyaprakash Kamath, addressing the participants at the Meeting on New Scheme of Education and Training for CA Students held on 24
th March 2015 at Menezes Braganca Hall, Panaji, Goa.
Seated on the dais CA. Kiran K. Kharangate, Chairman, Goa Branch & CA. Vinesh R. Pikale, Secretary, Goa Branch
CA. Satyaprakash Kamath, addressing the participants at the CA Students Seminar on Central Excise & Customs held on 25
th March
2015 at Goa Branch Premises, Panaji, Goa
Please register your name at Goa Branch office
Views expressed in this Newsletter are those of the individual contributors and not necessarily those of the Goa Branch of WIRC of ICAI. While every effort is made to reproduce ADVERBATIM, Government and/or ICAI references, notifications and other information, readers are well advised to ensure themselves of prior to further deliberation. The publication is distributed with the understanding that authors/editors and publishers are nor responsible for the result of any action taken on the basis of this work nor for any omission or error to any person, whether a purchaser of this publication or not.
Sr. No. Programme 1. Talk on Goa Budget 2015 Analysis – 18th / 25th April 2015
2. Seminar on Different Modes of Finance – 8th / 15th May 2015
3. International RRC / Study Tour – 26th – 30th May 2015
4. Two Day Sub-Regional Conference (Details to follow) – 5th/6th June