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May 2017

BCAS in 2016-17. Part – 2

By Chetan Shah, President
Narayan Pasari, Vice President
Sunil Gabhawalla, Suhas Paranjpe, Jt. Secretaries
Manish Sampat,Treasurer
Reading Time 9 mins

We wish to draw your
attention on the article in April 2017 issue on the captioned subject. Hope you
enjoyed reading it!! The issue covered Part-1 on the universe of events that
took place in your Society. As we continue from there, in this issue we bring to
you the students’ activities which have been engaging students at BCAS. We will
also be listing the various steps the Society has taken to make its presence
felt in good governance, highlighting the various representations made by the
Society.

Students Activities: This year the Society has conducted 10
programs
exclusively for students. Students, the future of the profession,
with the urge to learn and explore the large gamut of the profession are always
on top of the world when they receive the most coveted and respectable degree.
It is always an honour to qualify as a Chartered Accountant and the feeling
makes you soar high. We acknowledge this every year and thus, post the results
season in August and February, BCAS conducts Session on “Success in CA Exams”.
It is said that inspiration comes from seeing success around us. What better
than felicitating freshly qualified CAs who share their experience and success
story at this forum with the Students. These sessions are specifically designed
for students to learn how they can succeed in their exams. This year too we had
one session on the topic on 20th August where CA. Mayur Nayak and
CA. Shriniwas Joshi acted as mentors to the students, guiding them on how to
Succeed in CA Exams. Another session on 18th February was conducted
by CA. Shriniwas Joshi and CA. Mudit Yadav who himself qualified during that
period and stood as an inspiration to the coming generation.

In its endeavour to
encourage young Chartered Accountants; BCAS this year has been running a felicitation
drive immediately after the results are announced. This is the Society’s way of
welcoming them with a small token of appreciation on qualification. On joining
BCAS as a member, we have been offering a small e-kit containing a felicitation
letter, a mobile App of “The BCA Referencer 2016-17” worth Rs.900/- with a
unique password, an E-voucher worth Rs.500/- which can be encashed against any
event at BCAS or on purchase of a publication or study circle enrolment, and
access to E-journal website BCAJONLINE which has a repository of past 22 years
of the coveted BCA journal. Membership has been offered free for Rank holders
in the above scheme. If any new entrant to the profession known to you has
missed the opportunity you can spread the word around and do get in touch on
the following link http://www.bcasonline.org/bcasnews_article.aspx?id=P001176.
Freshly qualified CAs this May/ November 2016 are still eligible.

While we are talking about
exams BCAS has been conducting a crash course for students in “ISCA for CA
Final Students” by CA. Kartik Iyer. The session was held this year in Oct 2016
and those appearing in November 2016 benefitted from the same. A similar course
was planned on 30th April 2017. Many students attended these
sessions.

A “Two-day workshop for CA
Students” was held in October 2016 to guide and nurture students on various
topics like Effective Articleship, Direct & Indirect Taxes, Companies Act,
2013, Accounts and Audit, Practical working around Tally and Excel. The event
was designed to give the students a larger canvas of their journey as they get
ready to step in the profession.

Annual Day for students is
always a big event where they network with their colleagues, learn from
seniors, showcase their talent and last but not the least have great fun. This
year, the 9th Jal Erach Dastur Students Annual Day held in May 2016
named “Tarang 2K16 – Tarsho Apne Talent Ke Rang” was one such happening event
where more than 500 students came together to explore their hidden talent. The
activities included Essay writing competition, Slogan & Sketch Competition,
Talent Show, Debates, Elocution Competition and last but not the least, the
icing to the cake was the “Selfie-Khiche Le” contest which received an
overwhelming participation from the students. Each category had tough
competition and all winners and runners up were felicitated. The Guest Speakers
for the event, Mr. Vishal Mehta from Infibeam Ltd. inspired the students with
his thoughts and acknowledged the enthusiasm with which the students performed.
The fun does not stop here as this is an every year affair. If you have missed
it the last time, do come for the 10th Jal Erach Dastur Students
Annual Day to be held on 3rd June 2017 named “Tarang 2K17 – Tarsho
Apne Talent Ke Rang”. You can visit www.bcasonline.org to know more.

While the above activities
are exclusively for CA Students, we would like to also mention that every year
BCAS also joins hands with the Forum for Free Enterprise and A. D. Memorial for
the Nani Palkhivala Memorial Elocution contest for Law Students. Here, BCAS
partners as a panellist and sponsors the awards to the winners.

BCAS this year joined
hands as a knowledge partner with the Finance and Investment Cell of Narsee
Monjee College of Commerce and Economics (N M College) for their event “Insight
Conclave 2017” organised by Students of Narsee Monjee College on 18th
& 19th February 2017. We played a major role in helping the
students in deciding the programs and get the best speakers for the event. A
Special session was organised by BCAS for the students.

Besides the Mega Insight
2017 event, BCAS also conducted a session on “Issues and Impact of
Demonetisation” on 5th December 2016 for students of N. M. College.
The session received overwhelming response from students with more than 200
participants who were enthralled by the speech of CA. Ameet Patel & CA. T.
P. Ostwal.

Post the session on
demonetisation, the next mega event in the country was the Finance Bill 2017.
The BCAS conducted 2 sessions on the topic, one on 1st February for
N. M. College where CA. Ameet Patel and CA. Sushil Lakhani discussed the
various elements of Direct Tax and International taxation respectively. This
received a tremendous response, after which the second session was conducted
for students of H. R. College on 22nd February where CA. Ameet
Patel, CA. Samir Kapadia & CA. Siddharth Banwat spoke on the changes in
Direct tax, GST and International taxation respectively.

Representations: The Society made the following 10
representations
to the government.

Sr. No

Date

Representation

Addressed to

Jointly

1

30th July, 2016

Certain issues under IDS
2016

Mr. Hasmukh Adhia

Hon. Revenue Secretary
Ministry of Finance

 

   Ahmedabad Chartered Accountants’ Association

  Chamber of Tax Consultants

  Karnataka State Chartered Accountants’ Association

2

18th August, 2016

Representation in respect of
the Model Goods and Services Tax Law.

Mr. Ravneet Khurana,

Deputy Commissioner (GST)

 

3

29th August 2016

Representation on Model GST
Law

Shri Arun Jaitley

The Finance Minister

   Shri Amit Mitra, The Chairman, Empowered Committee of State
Finance Ministers

   Shri Satish Chandra, Member Secretary, Empowered Committee of
State Finance Ministers, Delhi Secretariat

   Dr. Hasmukh Adhia, The Secretary, Department of Revenue (Ministry
of Finance)

   Shri Najib Shah, The Chairman, Central Board of Excise and
Customs

 

4

13th September,
2016

Direct Tax Dispute
Resolution Scheme, 2016

Ms. Rani Singh Nair

Chairperson, CBDT

 

Chartered Accountants’
Association –
Ahmedabad

Chamber of Tax Consultants

Karnataka State Chartered
Accountants’ Association

Lucknow Chartered
Accountants’ Society

 

5

18th October 2016

Pre-Budget Memorandum on
Direct Tax Laws 2017-18

Shri Arun Jaitley, Ministry
of Finance,
Government of India,

 Shri Santosh Kumar Gangwar, Minister of State for Finance

  Shri Arjun Ram Meghwal, Minister of State for Finance

 The Finance Secretary

 Dr. Hasmukh Adhia, The Revenue Secretary, Ministry of Finance

 The Chairman, Central Board of Direct Taxes

 Joint Secretary, TPL-I

 Director, TPL-I

 Director, TPL-II

 

6

3rd November 2016

Representation to the Expert
Group on issues relating to Audit Firms

Shri Ashok Chawla

Chairman TERI

 

 Shri Hari S. Bhartia, Co-Chairman & Managing Director, Jubliant
Life Sciences Ltd and past president CII

 Shri N. S. Vishwanathan, Deputy Governor, Reserve Bank of India

  Shri M. R. Bhat , Joint Director

 Ms. Shalini Budathoki, Executive Director, National Foundation for
Corporate
Governance.

7

12th January 2017

Representation to CBDT
regarding error in stating the due date for Filing of Quarterly TDS
Statements for Financial Year 2016-2017 in Circular1/2017.

The Chairperson

Central Board of Direct
Taxes Government of India

 

 

8

8th March 2017

Post Budget Memorandum on
Direct Tax Laws 2017-18

Mr. Arun Jaitley

Hon. Minister of Finance
Government of India

 

9

14th March 2017

Deactivation of duplicate
PAN Cards

The Chairperson

Central Board of Direct
Taxes
Government of India

 

 

10

15th March 2017

Interaction of Central
Technical Committee Members with Tax Professionals at Mumbai

Central Technical Committee

 

Besides the above written representations, BCAS has also
joined hands along with ICAI and supported the government in the Income
Disclosure Scheme 2016.

We also met the Expert Group and presented issues relating to
Audit Firms at the forum.

BCAS was also invited for a discussion on GST by the
government and we are glad to inform you that many suggestions made by us were
considered in preparing the Model GST Law. A list of such suggestions is
available on our website www.bcasonline.org for your review. We are glad to
also inform you that BCAS is one of the Approved Training Partners(ATPs) to
impart GST Training by NACEN (National Academy Of Customs, Excise and
Narcotics) with 10 certified trainers on board.

We are sure you will continue to join us in our
objective of spreading knowledge. The knowledge journey will continue in our
next issue.

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