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Western India Regional Council of The Institute of Chartered Accountants of India

68th

ANNUAL REPORt

68th Annual Report 2018-19

1. Introduction The Western India Regional Council of The Institute of Chartered

Accountants of India is pleased to present its 68th Annual Report for the period between 1st June, 2018 and 31st May, 2019 and the audited financial statements for the year ended on 31st March, 2019.

2. NewTeamofOfficebearers Regional Council elected a new team of Office Bearers who

assumed office on 25th February, 2019. The list of members of all the Regional Council and its office bearers is contained in Annexure “A”.

3. Formation of Committees of Regional Council and theirmeetings

The Regional Council constituted various committees as detailed in Annexure B. The details of members at the meetings of the Regional Council and its committees are set out in Annexure ‘B’ and details of the office bearers & ex-officio of WIRC Branches are set out in Annexure ‘C’.

4. MembershipofWesternRegion The total membership of the Western Region as on date stood

at 1,01,155 including 6,388 members enrolled since last report.

5. ICAIAwards2018 to theWesternRegion

Sr. No.

Award Category Region/Branch

1 Award – 1st Prize Best Regional Council

WIRC

2 Best Branch – 2nd Prize

Mega Branch Category

Pune Branch of WIRC

3 Best Branch – 1st Prize

Large Branch Category

Vadodara Branch of WIRC

4 Best Branch – 1st Prize

Medium Branch Category

Aurangabad Branch of WIRC

StudentsAssociation5 Best Student

Association - 1st PrizeWestern India Charted Accountant Student Association

6 Best Branch Student Association – 1st prize


Pune & Aurangabad Branch of WICASA of WIRC

7 Best Branch Student Association – 2nd prize


Vadodara Branch of WICASA

8 Best Branch Student Association – 2nd prize

Medium Branch Category

Nanded Branch of WICASA

With this perspective, WIRC had undertaken various initiatives and activities during the year 2018-19, which are chronicled below, some of which are milestones: -

Excellence, Independence& Integrity The year 2018-19 was driven with “Excellence, Independence &

Integrity” with aim and objectives to achieve the goals set by the

Regional Council in consonance with the vision of the Institute and creating the goodwill, image, brand building and reputation of our Alma mater.

Chartered Accountants are the elite professionals in the world of finance and business and as such we hold ourselves to a higher standard. At the same time, it is also essential to have a focal point for us to follow.

Excellence is critical element in holding yourself to a higher standard in high quality, growth and consistency. Consistent excellence, consistent ethics and consistent results have garnered Chartered Accountants a tremendously positive reputation. We must protect and nurture this way of life for the betterment of the Profession and the Nation.

Independence is an essential component because only when you are truly independent can you pursue higher professional standards. This independence allows us to function with integrity thus ensuring that the world looks to us as the ultimate professional. This reputation has more than made up for the sacrifices we put ourselves through, towards being complete professionals.

Integrity is the most important characteristic in our pursuit of success and accomplishment of big goals. The reason is that integrity is doing what you said you would do. It is your word – your bond – your reputation and ultimately what defines you.

The motto also inspires our students to work towards and achieve success while creating a foundation for them to make a real impact in the community and contribute to the global marketplace – immediately and for a lifetime. These three words are guiding lights that remind us to constantly endeavor to better ourselves – professionally and personally and ultimately provide better services to our clients, Society and Nation.

6. ImportantMilestones, InitiativesandActivities:

6.1 InteractivewithGovernmentsandRegulators Chartered Accountants are active partners in ‘Nation Building’

and as such provide frequent inputs to Government officials for the better legal compliances as well as open opportunities for members to serve the Nation. WIRC has made several representations to the Government to ensure the same.

• Interactive Meeting on Latest Developments in Filing TDS Returns - Shri Ravi Kant Choudhary, IRS, JCIT, CPC (TDS) and Shri Purushottam, ITO, CPC (TDS)

• Interactive Meeting with Director of Income Tax on Statement of Financial Transactions (SFTs) – Mrs. Radha Katyal Narang, IRS Officer, Additional Director – Income Tax, Miss. Khushvi Gandhi, Deputy Director - Income-tax and Mr. Nikhil Choudhary, Director, Income Tax

• Felicitation of Shri Gautam Chatterjee IAS, MahaRERA

• Interactive session with CA G. D. Agrawal, Hon’ble President, ITAT

• Interaction with Shri Rajendra, Hon’ble Member, ITAT

• Interaction with Mr. Othmar Hardegger, Consul General of Swizerland, Mumbai

WesternIndiaRegionalCouncilofTheInstituteofCharteredAccountantsofIndia

68th ANNUAL REPORt 2018-19


• ISA-FAFP Study Group discussion with Forensic Police Department

• Interactive meeting with Ms. Tara Wisniewski, MD ISACA

• Interactive Meeting with ROC officers, Shri K. S. Reddy, Registrar of Companies (ROC), Goa, Shri Vinod Sharma, Registrar of Companies ROC, Mumbai Shri Manmohan Juneja, Regional Director, MCA and Ms. Vijaya Khandare, Registrar of Companies (ROC), Pune

• Interaction with Shri A. M. Prasad, Joint Director, CBI

• Shri Guljarilalji Hon’ble Director General of Audit (C), Mumbai.

• Shri S. K. Srivastava, Addl. Commissioner Provident Fund, Government of India

• Shri Rahul Kayshap, IAS Ministry of Housing & Urban Affairs Government of India

• Interactive Meeting with TDS officers Smt. Anuradha Bhatia, Shri Pratap Singh, Shri V. K. Gupta and Shri Sunil Sharma

6.2 Supporting Government initiatives through variousprogrammersonGST,RERA, insolvency

WIRC organized various Refresher Course on GST, Workshop on RERA and program on Insolvency and Bankruptcy Code

6.3 Spreading education via Seminars, Conferences,WorkshopsandLectures

The WIRC of ICAI has been instrumental in providing Continuous Professional Education to its Members and to the students by organizing various seminars, workshops, intensive study courses, modular training courses covering diverse areas of professional interest. As a testimony of its continuous effort the WIRC of ICAI has been consistently adjudged as the best Regional Council of ICAI.

6.4 Social media (Facebook) and Live Streaming ofWIRCevents

WIRC has its presence on facebook. Regular publicity of program is made through use of these social networking sites. The purpose of technology is to bring people and education together.

6.5 GrievanceRedressalMechanismofWIRC WIRC of ICAI has three tier call centre mechanism as follows

so that members, Students and other stakeholders may get the right solution as per their queries.

a) Help desk located at the reception level of WIRC. Those visiting may get immediate help.

b) The Western Regional offices of ICAI also have access to help.icai.org (E-sahaayataa portal). Grievances are closed using this portal.

c) Regional Council Members support to members and students to resolve their queries.

d) Regarding reading room queries the reading room are located at following locations which assist the visitors:

1. ICAI BKC

2. ICAI Cuffe Parade Reading Room

3. Aykar Bhawan Reading Room

4. Rajasthani Vidyarthi Gruha, Andheri

5. Rajasthani Sammelan Library, Malad

6. Dadar Library & Reading Room

7. Mulund library & Reading Room

8. Library at Bandra (Jointly with CITC / BCAS)

9. WIRC Reading Room, Vikhroli

6.6 Co-ordinationwithBranches WIRC believes that its Branches are the nerve-centres of the

organization. To that end, Branches are given support on a number of fronts towards ensuring that not only do they serve the cutting edge in terms of member and student professional facilities and education.

6.7 SwachhBharatMission Swachhta Pakhwada – Swachha Bharat Abhiyan held on

15th August, 2018 at ICAI Tower, BKC

Swachhta Hi Seva – Support Govt. Initiatives – “Swachhta hi Sewa” & “Quit India Movement” on 1st October, 2018 at ICAI Tower, BKC.

6.8 CorporateSocialResponsibility (CSR)Activities Nation building is part of our DNA and we, at WIRC, take

our CSR activities very seriously. WIRC, in accordance with government regulations has embedded CSR activities into its functioning and carries out CSR initiatives regularly.

Rashtriya Ekta Diwas - Rastriya Ekta Diwas (National Unity Day)-Pledge on 31st October, 2018 at 10 am at ICAI Tower, BKC

Constitution Day - “4th Constitution Day” - Pledge taking ceremony on 26th November, 2018 at 11 a.m. at ICAI Tower, BKC

Contribution to ICAI Kerala Flood Relief Fund

Tree Planatation held on 1st July, 2018 & 15th August, 2018 at ICAI Tower, BKC

6.9 WomenEmpowerment1. Celebration of International Women’s Day – winning in

Adversities.

2. Women Empowerment ME Time – Wellness to Willingness

7. Initiative to improve theAdministration& Infrastructure

7.1 BranchesofWIRC WIRC has been steadily ramping up the number of its branches

in its quest to ensure that members and students all over the region are given complete professional supports in a major expansion in the Branch Network of WIRC.

7.2 Expansion in theStudyCircleandStudyChapterNetworkofWIRC

WIRC has not only been in the forefront in terms of increase in strength of members and students, but also in terms of reaching out to them more effectively to enable dissemination of knowledge. The Study Circles and Study Chapters are vital constituents of WIRC in facilitating opportunities for members to fulfil their Continuing Professional Education requirements. During the year following Study Circle was formed: PanvelCPEStudyCircleofWIRCofICAIandSurendraNagarCPEChapterofWIRCofICAI.


8. Conferences /Conclaves

1. 33rdRegionalConferenceofWIRCof ICAI The 33rd Regional Conference based around the theme

“Enhance & Achieve”, was inaugurated by CA M. M. Juneja, Regional Director (Western Region), Ministry of Corporate Affairs as well as our Hon’ble President, ICAI, CA Naveen N. D. Gupta and Hon’ble Vice President, ICAI, CA Prafulla Chhajed. The conference was attended by over 1001 ICAI Central Council Members, Past Chairmen/Chairpersons of WIRC, and Regional Council Members.

The Conference was structured around recent policies, amendments and way forward covering Accountancy as well as legal inputs from luminaries of both professions. The wide-ranging input from the experts in terms of theory coupled with practical experience was appreciated by all. They created a clear understanding of how to improve ourselves across all fronts by enhancing our professional knowledge and by also giving clarity on achieving desired results in the new upcoming opportunities.

2. Sub-RegionalConferenceofWIRCof ICAI The WIRC of ICAI organizes the Sub Regional Conferences

in the presence of Hon’ble Central Ministers, Hon’ble Vice President, ICAI, CA Prafulla Chhajed, Central Council Members, Regional Council Members and members from across the Country. The Sub Regional Conferences topics of relevance for the present and future such as Direct Tax E-Assessment & E-Appeals; Company Laws; GST & latest changes in law and amendments were explained by veterans of the profession who came from Mumbai, Gujarat & Goa.

Sub-RegionalConferenceatNagpur inMaharashtra WIRC Sub-Regional Conference for the state of Maharashtra,

was organized on 23rd & 24th June, 2018 at Hotel Centre Point, Nagpur. Members appreciated the quality content and the erudite speakers present at this conference and attended in large numbers.

Sub-RegionalConferenceatSurat inGujarat WIRC Sub Regional Conference for the state of Gujarat, was

held on 15th & 16th June, 2018 at Grand Mercure Vadodara Surya Palace, Vadodara. This Sub-Regional conference was jointly hosted by Baroda, Anand and Bharuch Branches of WIRC of ICAI.

Sub-RegionalConferenceatGoa WIRC Sub-Regional Conference for the state of Goa, was

organized on 3rd & 4th August, 2018 at Vivanta by Taj Palace, Goa. The technical sessions of this Conference was Law, Code of Ethics, ICDS, GST & Benami Transactions.

9. InternationalStudyTour WIRC organized International Study tour to South Africa from

10th May, 2019 to 20th May, 2019.

International Co-operative Exposure visit to Sri Lanka from 28th August, 2018 to 31st August, 2018.

10. CharteredAccountantsBenevolentFund (CABF): Collection of Life membership contribution from the members

was ` 20,95,000/- with the addition of 419 members during the said period. The Voluntary Contribution through CPE programmes was to the tune of ` 2,01,851/-

11. Steps taken byRegional Council for Implementation ofTask

11.1 Representation toStateGovernment1. Representation on Extension of due date for Liquidator

Panel submitted to Shri Satish Soni, Hon’ble Commissioner of Co-operation & Registrar of Societies, Pune on 30th October, 2018.

2. Representation on extension of Co-operative Arbitrator Panel due date from 30th November, 2018 to 31st January, 2019 submitted to Shri Satish Soni, Hon’ble Commissioner of Co-operation & Registrar of Societies, Pune on 13th October, 2018.

3. Suggestions to amend MCS Act, 1960 with respect to New SEPARATE CHAPTER FOR HOUSING SOCIETIES regarding types of members submitted to Shri Subhash Deshmukh, Co-operative Minister and The Secretary, Co-operative Department, Mantralaya, Mumbai on 28th December, 2018.

4. Request for extension of due date for filling Audit Report u.s. 61 of MVAT Act for 1st April, 2017 to 30th June, 2017 submitted to Shri Sudhir Mungantiwar, Hon’ble Minister of State Finance, Maharashtra & Hon’ble Commissioner of State GST on 29th December, 2018.

5. Extension of due date for filing MVAT Audit report (Form 704) for FY 2017-18 submitted to The Hon’ble Commissioner of State GST on 28th February, 2019.

6. Issues under ‘The Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance 2019’ submitted to Shri Sudhir Mungantiwar, Hon’ble Minister of Finance & Planning & Forests, Government of Maharashtra.

7. Representation under ‘The Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance 2019’ submitted to Shri Rajiv Jalota, The Hon’ble Commissioner of State GST on 25th April, 2019.

11.2 Suggestion toStateGovernment Suggestions – Pre Budget Memorandum submitted to Hon’ble

Shri Sudhir Mungantiwar, Cabinet Minister of Finance, Government of Maharashtra towards Budgets of States (Within Region)

11.3 Suggestion to StateGovernment for Industrial Policies(WithinRegion)1. Suggestion and objection for Notification No. Jamin

2018/C.R. 90/ J-1 for Occupancy class -2 to occupancy class-1 submitted to Additional Chief Secretary, Government of Maharashtra on 18th December, 2018.

2. Suggestions for Effective and Fast Processing of Application / Claims under Package Scheme of Incentive – 2013 submitted to Shri Subhash R. Desai, Hon’ble Minister for Industries.

3. Regarding Registration of Co-op. Hsg. Society & not Admitting new Members in the Co-operative Housing Society submitted to Hon’ble Shri Gautam Chatterji, IAS, Chairman, MahaRERA.

4. Suggestions for encouraging Self Development submitted to

i. Hon’ble Dr. Ranjit Patil, Minister of State Home (Urban), Urban Development, Skill Development


& Entrepreneurship, Law & Judiciary, Parliament Affairs, Government of Maharashtra.

ii. Hon’ble Shri Ravindra Waikar, Minister of State Housing Higher & Technical Education, Government of Maharashtra.

iii. Hon’ble Shri Sanjay Rathos, Minister of State for Revenue, Government of Maharashtra.

iv. Hon’ble Shri Subhahs S. Deshmukh, Minister of Co-operation, Marketing & Textile, Government of Maharashtra.

11.4 Planning forGrowth inProfession During the year, WIRC had undertaken concerted efforts

in accentuating for the growth in the Profession. With this perspective, various seminars in niche areas of contemporary relevance were organized to update the members about the new professional opportunities, which are given below:

1. Organizing various programmes of Networking, Peer review Code of Ethics, etc.

2. Intensive Courses, Study Courses, Workshops

• Direct Tax Refresher Course

• Companies Act, 2013

• Ind AS (IFRS)

• RERA

• GST

• Sector wise Mega series on Impact of GST – Various topics

• Study Course on How to prepare for Insolvency & Bankruptcy Code Examination

• Income Tax

3. Programs on Professional Opportunities in different industries:

• Banking

• Insurance

• Mutual Funds

• Financial Services

• Commercial and allied Laws

4. Residential/Non-Residential Refresher courses

5. Interactive meeting with Trade Bodies and Industry associations

6. Training programme for officers of GST Department (Audit)

7. Workshop on Personal Excellence for GST officers

11.5 StrengtheningEducation&otherServices toStudents

A) SeminarsandConferences forStudents

1. NationalConference forCAStudents WIRC and WICASA hosted the biggest event of the

year – National Conference for CA Students held on 12th & 13th January, 2019 at Y. B. Chavan Auditorium, Mantralaya, Churchgate, Mumbai. Chief Guest: Shri R. C. Sharma, Hon’ble Member ITAT.

The Convention witnessed an overwhelming response. Various Technical sessions were planned for students in an innovative manner by making it based on case study presentations.

• Students not only from many places in India but also from out of India participated in this conference. Large attendance, excellent arrangements and thought provoking technical papers by faculties and students made this conference truly memorable for students.

2. Seminars forCAStudents In addition to large conferences, WIRC also organized

various full day, half day seminars and lecture meetings for students. These seminars were organized on topics which are important to the students to sharpen their professional skills. Some such topics of these seminars were Tax Audit, E-Filing, Preparation of Audit Reports, Indirect Tax, and Companies Act 2013.

WIRC organised various GST Course for CA students.

B) MockTests /CrashCourse

1. CPTMOCKTest Continuing with the success story of the CPT Mock

Test, this year too, WIRC conducted Mock Tests for CPT students across the region.

WIRC conducted Mock test for the CPT students across the Region on 25th November, 2018. This test was conducted on the same day at the same time throughout the Region. The results as well as the answer sheets were uploaded on the WIRC website within 10 days after the tests.

2. MockTests for IPCCandFinalStudents: In line with the initiative of ICAI, WIRC took lead in

organizing Mock Tests for IPCC and CA Final students. In spite constraint of space in Mumbai, these tests were successfully conducted and moreover, the paper assessments were also done in stipulated time. In fact WIRC kept a separate session for students wherein the paper assessors solved difficulties of the students. These tests were also conducted by various Branches of WIRC.

3. CrashCourse–• Various crash courses for CPT, IPCC and CA

Final students were conducted for both May and November Exam students.

• The courses received strong attendance and excellent feedback from students.

4. Articleship and Industrial Training CampusPlacementProgram -• WIRC along with WICASA hosted Articleship and

Industrial Training Placement Program in Mumbai. The objective of this program was to assist CA Students in their hunt for articleship in Mumbai

C) OtherActivities forStudents

1. QuizandElocutionCompetition–• Quiz and Elocution Competition was organized at

the Mumbai City level and also at different branch levels. Quiz & Elocution Competition for Mumbai based Students was held on 10th June, 2018

• Regional level competition was also organized in which 19 branches of WIRC participated. Regional Level Quiz & Elocution Competition was held on 16th June, 2018 at ICAI Tower, BKC, Mumbai.


2. EducationalTour& IndustryVisits Educational tour was conducted by WICASA at various

places. Large number of student benefitted from this initiative. Students got an insight into different fields which will help in their overall development.

• Education tour to NSDL held on 24th May, 2018 at National Securities & Depository Ltd., Mumbai

• Education tour to NSE held on 18th June, 2018 at National Stock Exchange Ltd., Mumbai

• Industrial visit to Mahindra & Mahindra held on 22nd June, 2018 at Mahindra & Mahindra Ltd., Mumbai

• Educational tour to Multi Commodity Exchange was held on 28th November, 2018 at Multi Commodity Exchange was Mumbai

3. NationalTalentHunt 2018• Unique idea about National Talent Hunt Regional

Level Competition was organised at Mumbai City and 19 branches of WICASA participated

• Many students participated in these competitions and had a new experience and learning with them to carry ahead.

• The competition gave students an opportunity to enhance their knowledge.

D) HOSTEL Vasai Hostel: WIRC members met the Students regularly to

understand their difficulties and helped to solve them instantly. Many Students were admitted to Hostel this year, wherein members of WIRC are trustees.

E) InitiativesonLibraryandReadingRooms• List of Library/ Reference Libraries / Reading Rooms

Name&Address

1 WIRCLibraryandReadingRoom

5th Floor, ICAI Tower, Plot No. C-40, G-Block, Opp. MCA Ground, Near Standard Chartered Bank, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051

2 WIRCReferenceLibrary

Room No. 580, Aayakar Bhavan, New Marine Lines, Near Churchgate Station, Mumbai – 400 020

3 WIRCReferenceLibrary-cum-ReadingRoom

The Graduate Police Officers’ Residential Complex, Bullet Apartments, Lakhamsey Nappu Road, Hindu Colony, Dadar (E), Mumbai – 400 014

4 WIRCReferenceLibrary-cum-ExtensionCounter-cum-readingRoom

Rajasthan Vidyarthi Griha (RVG), Lallubhai Swal Das Marg, Near Lallubhai Park, Off. S. V. Road, Andheri (W), Mumbai – 400 058.

5 WIRCReferenceLibrary-cum-ReadingRoom

C/o. Maheshwari Pracharak Mandal, Next to BMC – T – Ward Office, Devidayal Road, Mulund (W), Mumbai – 400 080

Name&Address

6 LibraryatBandra

(Jointly with CITC / BCAS)

C/11 Pratyakshakar Bhavan, Ground Floor, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051

7 WIRCReadingRoom

ICAI Bhavan, 27, Cuffe Parade, Colaba, Mumbai – 400 005.

8 WIRCReadingRoom

Ghansyamdas Saraf College of Arts & Commerce Gate No 1, Gr. Flr. Rajasthan Sammelan, Swami Vivekanand Road, Opp. Bajaj Hall, Near Petrol Pump, Malad (W), Mumbai – 400 064

9 WIRCReadingRoom

Agrawal Institute of Management & Technology 8B 178 2768, Tagore Nagar, Vikhroli East, Mumbai Suburban, Mumbai – 400083

F) SportsandCulturalEvents1. Indoor Sports Meet: Sports and games are activities

which makes a person more capable with high level of efficiency, removes the mental exhaustion and makes them capable to do any hard work. In the modern education system, sports has been made an integral part of education to make student life interesting, tension free and enjoyable. They become disciplined all through their l ives in order to get success and be ready on time (Punctuality). They do regular practice with full commitment towards their game and studies.

Sports and games activities make students to learn about how to tackle difficult situations in life and keep body relaxed and mind free of stress. It develops the habit of working in team by developing the sense of unity among team members. Team WICASA organised various indoor sports meet which included games like Carom, Chess, Snooker, Badminton and Table Tennis during the year for giving opportunity to the students to come up with the talent they possess.

2. Foundation Day Celebrations: WICASA put in its best effort to make celebration of CA day a successful and memorable event for all the members present during the occasion. This year we have celebrated the Golden Day of the year and took a pledge to serve our profession in a manner that enriches our nation by all means. WICASA helped by encouraging students all over the region to participate in this celebration and mark their commitment towards the institute. WICASA team also participated in the Flag Hoisting Ceremony at ICAI Tower, Bandra Kurla Complex. To commemorate the 70th year of ICAI, we conducted GST training programmes for students at multiple institutions.

3. Youth Fest – AAKAAR 2.0: WICASA organised Youth Fest for CA students AAKAAR 2.0 on 28th December, 2018. 200+ Students registered for the event. It was an amazing event comprising of various activities like Dance Competition, Singing Competition. The event gave an opportunity to CA students to unleash their hidden talent.


H) SOCIALandotherACTIVITIES Yoga Day Celebration: WICASA team celebrated Yoga Day at

RVG Hostel and Vasai Hostel on 21st June, 2018. The event witnessed great response from Students across Mumbai.

BloodDonationCamp• Blood donation is one of the most significant contribution

that a person can make towards the society. It is not harmful for an adult person to donate blood. The Body of the donor can regenerate the blood within few hours. It poses no threat to the metabolism of the body. Social activity like blood donation witnessed very good response from students at large and created valuable brand building exercise for our ICAI.

10.6. Positioning Institute & Professionals for role in NationBuilding

1) Creatingawareness inSociety E-Services Facilitation week for Profession Tax payers

fron 8th October, 2018 to 15th October, 2018 – Department of Goods & Service Tax, Government of Maharashtra, BKC, Mumbai

Financial Literacy Week 4th June, 2018 to 8th June, 2018 – Reserve Bank of India

Special Summary Revision Programme for new registration and correction in Voter ID of Government of India

2) Greater InvolvementofMembers in Industry inprogrammesin Institute

IndustrySpecificProgrammes During the current year, WIRC organized various industry

specific programmes for the benefit of the members, viz:-

Conference on Healthcare Industry

Seminar on Media and Entertainment

Seminar on Pharma Industry

Seminar on Financial Services

Seminar on Business Valuation, Mutual Funds and Alternative Investments – Beginner’s Guide

Treasury & Investments Regularity Perspective

Seminar on Project Finance

Regional Banking Conclave

Seminar on Mergers & Acquisitions

WIRC IT Expo 2018

Seminar on BFSI

Regional Banking Conclave

Seminar on Merger & Acquisition and Corporate Restructuring

10.7 ResearchPublications WIRC has been in forefront in doing research on subjects of

interest for members. In that direction following initiative has been taken

1. WIRC has formed Research Committee under which research activity is undertaken

2. Various study groups: WIRC has continued following Study Groups

a. BFSICM Study Group

b. Co-operative Study Group

c. AAS, IND AS & Financial Reporting Study Group

d. Indirect Tax Study Group

e. Insolvency and Bankruptcy Code Study Group

f. ISA & FAFP Study Group

g. RERA Study Group

Theses study groups involved members in industry & members in practice and does thorough study on topic through interaction. These discussion summaries are uploaded on WIRC website for members benefit.

3. To reach members at large WIRC also published various compilation papers namely

• WIRCReferenceManual: This reference manual is compilation of various laws useful to our profession. It also contains gist of accounting standards, Auditing Standards, CA Act & Rules. This reference manual is the result of contribution of more than 75 members including our esteemed Central Council Members. This Reference manual is very well appreciated by Regulators & Members in Industries. This reference manual was also highly appreciated by members of other regions. This publication was released on Saturday, 2nd June, 2018 at Direct Tax Refresher Course organized by WIRC of ICAI by the worthy hands of Shri G. D. Agrawal, Hon’ble President, ITAT

• ReferenceManualDirectTaxesGlossary This publication was released on Saturday,

30th June, 2018 at Direct Tax Refresher Course organized by WIRC of ICAI by the worthy hands of Hon’ble Justice, Dr. Vineet Kothari, Judge, High Court of Karnataka.

• WIRCGSTReferenceManual: This publication was released on Friday, 24th August, 2018 at 33rd Regional Conference organized by WIRC of ICAI by the worthy hands of Shri Manmohan Juneja, Hon’ble Regional Director, Ministry of Corporate Affairs, Western Region, Mumbai.

• Practical Guide for Annual Returns andAudit inGST: This publication was released by the worthy hands of CA P. S. Jayakumar, Managing Director & CEO, Bank of Baroda, Mr. Arijit Basu, Managing Director (Commecial Clients Group & IT), State Bank of India and Mr. A. N. Prasad, Joint Director – CBI, Mumbai Zone on Saturday, 24th November, 2018 at Regional Banking Conclave organized by WIRC of ICAI.

• Compilationofpapers forStatutoryBankBranchAudit: As we know majority of our members are providing their services as statutory auditor of banks. WIRC conducts large numbers of programmes across the region. To bring uniformity in the presentation during session, these papers are compiled. These here again been appreciated by all members from other regions as well. This publication was released by the worthy hands of CA Prafulla Chhajed, President – ICAI and CA Atul Kumar Gupta, Vice President – ICAI on Wednesday, 13th March, 2019 at Members Meet organized by WIRC of


ICAI which was attended by more than 1000 Chartered Accountants.

• Publication on “Guide to MaharashtraSettlementofArrearsofTax,Interest,PenaltyofLateFeeOrdinance,2019”: This publication was released by the worthy hands of Shri Sudhir Mungantiwar, Hon’ble Minister of Finance & Planning & Forests, Government of Maharashtra on Tuesday, 16th April, 2019 at the Lecture Meeting on Analysis of Amnesty Scheme under MVAT & Allied Laws.

• Publicationon“GuidetoGSTAnnualReturn&Audit”: This publication was released by the worthy hands of Shri Sumerkumar Kale, Additional Commissioner, State GST, Thane Zone and Shri. Gautam Chatterjee, Chairman, MahaRERA at the Seminar on Returns and Audit under GST held on 25th May, 2019 at ICAI Tower, Bandra Kurla Complex, Mumbai. This publication is very important and useful as this year is the first year for GST Audit and the publication is released in timely manner.

12. Certificatecoursesconductedby ICAIandhostedbyWIRC The WIRC hosted the following certificate courses conducted by

ICAI at Mumbai.

• Certificate Course on Anti Money Laundering

• Certificate course on Arbitration Mediation & Conciliation

• Certificate Course on International Taxation

• Certificate course on GST

• Certificate Course on Concurrent Audit of Banks

• Certificate course on IND AS Implementation

• Certificate Course on Educational Course of ICAI RVO

13. ContinuingProfessionalEducationalProgrammes• The programmes organized by the Regional Council

continued to receive overwhelming response from the members and students.

• A record number of Lecture meetings were organized during the year and all such meetings witnessed attendance to the full capacity.

• A number of seminars, workshop and study courses were held during the period covering diverse areas of professional interest. During the year all educational programmes have been granted CPE credit and all the programmes prescribed under the training calendar or CPE calendar have been conducted.

• All the areas of coverage suggested by CPE calendar were covered.

• Organised several intensive courses on GST, Companies Act, 2013, Internal Audit, FEMA, International Taxation, etc.

• Organised series of seminars/ workshops on Bank Branch Audit for members across the region. Special background material was also printed.

• During the year, various national seminars / workshops were organised by the difference committee of ICAI and hosted by WIRC.

14. CPEStudyCirclesofWIRC1) The Western Region has 64 Study Circles. These study

Circles meet regularly to discuss subjects of professional interest. The programmes of the Study Circles were regularly published in the WIRC Newsletter to encourage members to participate in the Study Circle programmes.

2) The Study Circles continued to organize programmes as per the guidelines issued by the Continuing Professional Education Committee.

15. BranchesofWIRC1. The Western India Regional Council has 35 Branches

spread across the States of Maharashtra, Gujarat, Goa and the Union Territories of Daman, Diu and Nagar Haveli.

2. The names of the Office Bearers of the branches are given in Annexure “C”. The list of Regional Council members nominated as Ex-officio members of the Branches is also given in the same Annexure.

3. Branch Co-ordination Meeting was held on 12th & 13th March, 2019 at The Dukes Retreat, Khandala.

WIRCAWARDTOBRANCHESOFWIRC

Sr. MegaBranchCategoryPune Branch First Prize

Ahmedabad Branch Second Prize

Large&MediumBranchCategoryBaroda Branch First Prize

Nagpur Branch Second Prize

SmallBranchCategoryAurangabad Branch First Prize

Ahmednagar Branch Second Prize

MicroBranchCategoryAnand Branch First Prize

Nanded Branch Second Prize

WIRCAWARDSTOWICASAOFWIRC

Sr. No.

MegaBranchCategory

1 Pune Branch First Prize

2 Ahmedabad Branch Second Prize

LargeBranchCategory3 Nagpur Branch First Prize

4 Thane Branch Second Prize

MediumBranchCategory5 Baroda Branch First Prize

6 Rajkot Branch Second Prize

SmallBranchCategory7 Aurangabad Branch First Prize

8 Pimpri Chinchwad Branch Second Prize

MicroBranchCategory9 Jalgaon Branch First Prize

10 Nanded Branch Second Prize


16. Reporting&Administration

16.1 ContributionofWIRC toExposureDraft issuedby ICAI Exposure draft on IND AS 12, Income Taxes Appendix–C

Proposed Amendments to IAS 8

Exposure Draft on Indian Valuation Standards

Exposure Draft of the Accounting Standards for the Local Bodies (ASLBs) 23, Revenue from Non– Exchange Transactions (Taxes and Transfers)

Exposure Draft on Upgraded Accounting Standard

Exposure Draft on Guidance Note on Audit of Banks (2019 Edition) – Bank Branch Audit other than Foreign Exchange Transactions

Exposure Draft on Guidance Note on audit of Banks (2019 Edition) – Statutory Central Audit

Exposure Draft on Guidance note on Audit of Banks (2019 Edition) – Foreign Exchange Transactions and Integrated Treasury.

16.2 ContributionofWIRCwith the assistanceof branches totheExposureDraft issuedby ICAI• Exposure Draft: ICAI Code of Ethics, 2018

• Exposure Draft of Guidance Note on Audit of Banks, 2019 edition – Statutory Central Audit

• Exposure Draft of Guidance Note on Audit of Banks, 2019 edition – Bank Branch Audit other than Foreign Exchange Transactions

• Exposure Draft on Guidance Note on Audit of Banks, 2019 edition – Foreign Exchange Transactions and integrated Treasury

• Exposure Draft – Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200

16.3 Suggestions given byWIRC to Board of Studies forbringingabout improvement / updationof studymaterials

CA Intermediate Course / IPC Course – Improvement in Study Material and Practice Manual

• Paper 2 : Corporate and other Laws

• Paper 3 : Cost & Management Accounting

• Paper 6: Auditing and Assurance

• Paper 8 : Financial Management & Economics for Finance

Corrections on Study Material and Practice Manual

• Paper 3 : Cost & Management Accounting

• Paper 8 : Financial Management & Economics for Finance

CA Final Course – improvements in Study Material and Practice Manual

• Paper 2: Strategic Financial Management

• Paper 3: Advanced Auditing and Professional Ethics

• Paper 4: Corporate and Economics Laws

• Paper 8: Indirect Tax Laws

Correction in Study Material and Practice Manual

• Paper 1: Financial Reporting (New Syllabus)

CA Final Course – Review on Indirect Tax (New Syllabus)

16.4 Regular reportingand interactionwith thePresidents,VicePresident andCouncilMembers.

17. EditorialBoard WIRC of ICAI newsletter has received a new and fresh look.

The new attractive look has come along with various added new features such as quotations, easier search and find separate Listing of programmes for attention of members amongst other such various improvements for the benefit of CA members and students.

The Newsletter contained regular updates on various laws, regulations etc. The Bulletin Board was regularly updated with useful information. The Newsletter was invariably mailed on the prescheduled dates; i.e., 2nd & 3rd of every month.

18. Western IndiaCharteredAccountantsEducationalTrust During the year, (i.e., w.e.f. 25th February, 2019), CA Priti Savla,

Chairperson-WIRC, CA Rakesh Alshi, Secretary-WIRC, CA Lalit Bajaj, Chairman Hostel Committee of WIRC were nominated as the Trustees of the Western India Chartered Accountants Educational Trust, by virtue of their respective positions in WIRC.

19. Mayor’sFund CA Priti Savla, Chairperson of WIRC was nominated as ex-

officio treasurer of the Mayor’s Fund, Mumbai, with effect from 25th February, 2019.

20. FelicitationofPresident andVicePresidentof ICAI President and Vice President were felicitated at the Members

Meet on 13th March, 2019 at Yogi Sabhagruh, Dadar (East), Mumbai. This function was attended by a galaxy of Past Presidents of our Institute and Past Chairmen of our Region.

21. Acknowledgements We wish to place on record our sincere appreciation and

gratitude to the following persons, entities, groups, service providers who have made it possible to conduct various activities of the Western India Regional Council:

• Faculties, Co-ordinators and members at various seminars, conferences, Refresher and other courses and lecture meetings for sparing their valuable time for the cause of the profession.

• Co-opted & Sub-Group members of various committees of WIRC.

• All participants at various seminars for their presence as well as their suggestions for further improvement of programmes.

• The various contributors to the Newsletter for making it very informative and interesting.

• Mr. Rajesh Bhagat of M/s. Finesse Graphics & Prints Pvt. Ltd., for the timely printing of Newsletter.

• Statutory Auditors of the WIRC, M/s. P. C. Ghadiali and Co. LLP and Internal Auditors M/s. Maheshwari & Co. Chartered Accountants and the Auditors of Decentralized


Office and various branches for their guidance and assistance.

• Various professionals and other organizations for their co-operation and assistance in organizing programmes.

• Advertisers in the Newsletter and other publications.

• Contributors to the WIRC Reference Manual 2018-19 and various other publications of WIRC.

• The Press and Media for their support.

• All the off icers and staff members of WIRC and Mumbai Decentralized Office of the Institute for their

continued dedicated efforts and hard work throughout the year.

CAPritiSavla Chairperson

CAUmeshSharma Vice-Chairman

CARakeshAlshi Secretary

CAYashwantKasar Treasurer

Place: Mumbai

Date: 31st May, 2019.


Annexure“A” :RegionalCouncilMembers for theperiod2019-22

MEMBERS

CA Agarwal Balkishan

CA Agrawal Vimal Kumar

CA Alshi Rakesh Ganpat

CA Arun Anandagiri

CA Bajaj Lalit Laxminarayan

CA Chitale Sushrut Mukund

CA Desai Drushti Rahul

CA Doshi Vishal

CA Gadia Manish R.

CA Jain Vikash Gautamchand

CA Jakhotiya Anand Rameshchandra

CA Kabra Arpit Jagdish

CA Kachwala Murtuza Onali

CA Kala Jayesh Umedmal

CA Kasar Yashwant Jaywant

CA Kelkar Abhijit Jayant

CA Patel Chintan Nareshkumar

CA Pomal Hitesh Manharlal

CA Saboo Kamlesh

CA Savla Priti Paras

CA Sharma Umesh Ramnarayan

CA Shinagare Shilpa Babasaheb

CENTRALCOUNCILMEMBERSFORTHEperiod2019-22

CA Bhandari Anil Satyanarayan

CA Chhaira Jay Ajit

CA Chhajed Prafulla Premsukh - President, ICAI

CA Chitale Chandrashekhar Vasant

CA Ghia Tarun Jamnadas

CA Hegde Nandkishore Chidamber

CA Jambusaria Nihar Niranjan

CA Joshi Shriniwas Yeshwant

CA Kabra Durgesh Kumar

CA Khandelwal Dheeraj Kumar

CA Talati Aniket Sunil

OFFICEBEARERS-2019-20

CA Savla Priti Paras ChairpersonCA Sharma Umesh Ramnarayan Vice - ChairmanCA Alshi Rakesh Ganpat SecretaryCA Kasar Yashwant Jaywant Treasurer


AnnexureB—StandingCommittees

CareerCounselling CPE Public Relations

Student ProfessionalDevelopment

Executive

Chairman CA Manish Gadia CA Anand Jakhotiya CA Jayesh Kala CA Arpit Kabra CA Drushti Desai CA Priti Savla

ViceChairman CA Kamlesh Saboo CA Abhijit Kelkar CA Arun Anandagiri CA Murtuza Kachwala CA Lalit Bajaj CA Rakesh Alshi

OfficeBearers CA Priti Savla CA Umesh Sharma CA Umesh Sharma CA Priti Savla CA Priti Savla CA Umesh Sharma

CA Umesh Sharma CA Rakesh Alshi CA Rakesh Alshi CA Yashwant Kasar CA Umesh Sharma CA Yashwant Kasar

RCM CA Abhijit Kelkar CA Drushti Desai CA Arpit Kabra CA Anand Jakhotiya CA Manish Gadia CA Drushti Desai

CA Anand Jakhotiya CA Lalit Bajaj CA Manish Gadia CA Chintan Patel CA Murtuza Kachwala CA Hitesh Pomal

CA Jayesh Kala CA Murtuza Kachwala CA Vimal Agrawal CA Hitesh Pomal CA Vishal Doshi CA Lalit Bajaj

CA Vishal Doshi CA Sushrut Chitale CA Vishal Doshi CA Manish Gadia CA Yashwant Kasar CA Manish Gadia

CCM(Ex-officio) CA N. C. Hegde CA Aniket Talati CA Shriniwas Joshi CA Durgesh Kabra CA Jay Chhaira CA Aniket Talati

Non-StandingCommitteesBanking,Financial

ServicesandPensionCapacityBuildingofMembersinPractise

CapitalMarket&Investors'Protection

Co-OperativeSocieties CommitteeforMembersinIndustry&Business

Chairman CA Hitesh Pomal CA Jayesh Kala CA Kamlesh Saboo CA Anand Jakhotiya CA Murtuza Kachwala

ViceChairman CA Anand Jakhotiya CA Anand Jakhotiya CA Vimal Agrawal CA Vishal Doshi CA Arun Anandagiri

OfficeBearers CA Priti Savla CA Umesh Sharma CA Priti Savla CA Umesh Sharma CA Rakesh Alshi

CA Yashwant Kasar CA Yashwant Kasar CA Umesh Sharma CA Yashwant Kasar CA Yashwant Kasar

RCM CA Arpit Kabra CA Abhijit Kelkar CA Abhijit Kelkar CA Abhijit Kelkar CA Arpit Kabra

CA Arun Anandagiri CA Lalit Bajaj CA Arun Anandagiri CA Arpit Kabra CA Drushti Desai

CA Jayesh Kala CA Vikash Jain CA Drushti Desai CA Lalit Bajaj CA Hitesh Pomal

CA Lalit Bajaj CA Vishal Doshi CA Jayesh Kala CA Manish Gadia CA Manish Gadia

CCM(Ex-officio) CA Dhiraj Khandelwal CA Shriniwas Joshi CA Jay Chhaira CA C. V. Chitale CA Anil Bhandari

Corporate&AlliedLaws&CorporateGovernance

DigitalTransformation&Technology

DirectTaxes Editorial ExposureDraft

Chairman CA Vishal Doshi CA Yashwant Kasar CA Arun Anandagiri CA Priti Savla CA Sushrut Chitale

ViceChairman CA Drushti Desai CA Arpit Kabra CA Jayesh Kala CA Rakesh Alshi CA Chintan Patel

OfficeBearers CA Priti Savla CA Umesh Sharma CA Priti Savla CA Umesh Sharma CA Umesh Sharma

CA Rakesh Alshi CA Rakesh Alshi CA Rakesh Alshi CA Yashwant Kasar CA Rakesh Alshi

RCM CA Arpit Kabra CA Anand Jakhotiya CA Arpit Kabra CA Drushti Desai CA Drushti Desai

CA Arun Anandagiri CA Jayesh Kala CA Drushti Desai CA Jayesh Kala CA Shilpa Shinagare

CA Chintan Patel CA Murtuza Kachwala CA Murtuza Kachwala CA Lalit Bajaj CA Vimal Agrawal

CA Murtuza Kachwala CA Vishal Doshi CA Vishal Doshi CA Manish Gadia

CCM(Ex-officio) CA C. V. Chitale CA Anil Bhandari CA N. C. Hegde CA N. C. Hegde CA Tarun Ghia


GMCS Co-Ordination GST&IndirectTaxes Hostel IndAs InsolvencyandBankruptcyCode

Chairman CA Arpit Kabra CA Umesh Sharma CA Lalit Bajaj CA Chintan Patel CA Vikash Jain

ViceChairman CA Manish Gadia CA Yashwant Kasar CA Vishal Doshi CA Vishal Doshi CA Lalit Bajaj

OfficeBearers CA Priti Savla CA Priti Savla CA Umesh Sharma CA Umesh Sharma CA Priti Savla

CA Umesh Sharma CA Rakesh Alshi CA Yashwant Kasar CA Yashwant Kasar CA Yashwant Kasar

RCM CA Anand Jakhotiya CA Balkishan Agarwal CA Arpit Kabra CA Drushti Desai CA Arpit Kabra

CA Hitesh Pomal CA Manish Gadia CA Arun Anandagiri CA Hitesh Pomal CA Jayesh Kala

CA Lalit Bajaj CA Murtuza Kachwala CA Drushti Desai CA Murtuza Kachwala CA Kamlesh Saboo

CA Vishal Doshi CA Vimal Agrawal CA Manish Gadia CA Sushrut Chitale CA Hitesh Pomal

CCM(Ex-officio) CA Durgesh Kabra CA Shriniwas Joshi CA Durgesh Kabra CA Shriniwas Joshi CA Nihar Jambusaria

InternalAudit InternationalTaxation Library ManagementAccounting Research

Chairman CA Murtuza Kachwala CA Rakesh Alshi CA Abhijit Kelkar CA Balkishan Agarwal CA Shilpa Shinagare

ViceChairman CA Hitesh Pomal CA Jayesh Kala CA Manish Gadia CA Vikash Jain CA Murtuza Kachwala

OfficeBearers CA Priti Savla CA Priti Savla CA Priti Savla CA Umesh Sharma CA Umesh Sharma

CA Umesh Sharma CA Yashwant Kasar CA Rakesh Alshi CA Yashwant Kasar CA Yashwant Kasar

RCM CA Anand Jakhotiya CA Drushti Desai CA Anand Jakhotiya CA Chintan Patel CA Abhijit Kelkar

CA Arun Anandagiri CA Kamlesh Saboo CA Arpit Kabra CA Manish Gadia CA Chintan Patel

CA Lalit Bajaj CA Shilpa Shinagare CA Jayesh Kala CA Murtuza Kachwala CA Kamlesh Saboo

CA Vishal Doshi CA Vikash Jain CA Vikash Jain CA Sushrut Chitale CA Sushrut Chitale

CCM(Ex-officio) CA Anil Bhandari CA Nihar Jambusaria CA Nihar Jambusaria CA C.V. Chitale CA Tarun Ghia

PublicFinance&AccountingStandards

forLocalBodies

StudyCircle Co-ordination

Valuation WICASA

Chairman CA Vimal Agrawal CA Lalit Bajaj CA Drushti Desai CA Jayesh Kala

ViceChairman CA Shilpa Shinagare CA Arpit Kabra CA Vishal Doshi

OfficeBearers CA Umesh Sharma CA Priti Savla CA Priti Savla

CA Yashwant Kasar CA Rakesh Alshi CA Rakesh Alshi

RCM CA Balkishan Agarwal CA Anand Jakhotiya CA Arun Anandagiri CA Anand Jakhotiya

CA Kamlesh Saboo CA Jayesh Kala CA Lalit Bajaj CA Hitesh Pomal

CA Sushrut Chitale CA Manish Gadia CA Murtuza Kachwala

CA Vikash Jain CA Murtuza Kachwala CA Vimal Agrawal

CCM(Ex-officio) CA Dhiraj Khandelwal CA Jay Chhaira CA N. C. Hegde


AnnexureC—OfficeBearers&Ex-OfficioMembersofWIRCBranches(2018-19)

Sr. No.

NameoftheBranch

Chairman/Chairperson Vice-Chairman Secretary Treasurer BranchNominees

1 AhmedabadBranch

CA Ganesh Thanabalan Nadar

CA Fenil Rajendra Shah CA Harit Ashok Dhariwal CA Anjali Nirav Choksi CA Hitesh Pomal CA Chintan Patel CA Vikash Jain

2 AhmednagarBranch

CA Paresh P. Bora CA Kiran P. Bhandari CA Sandeep M. Desarda CA Sandeep M. Desarda CA Jayesh Kala

3 AkolaBranch CA Deepak Prakashchandra Agrawal

CA Jalaj Rameshchandra Baheti

CA Keyur Shantilal Dedhia CA Keyur Shantilal Dedhia CA Arpit Kabra

4 AmravatiBranch CA Damodar D. Khandelwal

CA Vipul R. Patel CA Sunil D. Salampuria CA Pawan M. Jajoo CA Anand Jakhotiya

5 AnandBranch CA Harbinder Shreni CA Bhavesh Thakkar CA Hardik Patel CA Sanat Soni CA Chintan Patel

6 AurangabadBranch

CA Rohan Mansukh Achalia

CA Ganesh Suresh Shilwant

CA Ganesh Prakash Bhalerao

CA Praveen Kacharulal Bangad

CA Umesh Sharma

7 BarodaBranch CA Hitesh Agrawal CA Krunal Brahmbhatt CA Vinod Pahilwani CA Manoj Sahu CA Vishal Doshi

8 BharuchBr CA Mahavir R Jain CA Harshit B. Shah CA Rushi Gandhi CA Akshar Mehta CA Vishal Doshi

9 BhavnagarBr CA Jayesh K. Shah CA Manojkumar Parshottambhai Gohil

CA Adhish R. Rokadia CA Adil A. Daula CA Jayesh Kala

10 BhujBranch CA Hardik P. Thacker CA Jitendra Thacker CA Ramesh Pindolia CA Ashish Gadhvi CA Hitesh Pomal

11 DhuleBranch CA Rajaram R. Kulkarni CA Nilesh G. Agrawal CA Avinash Ghundiyal CA Nilesh K. Agrawal CA Lalit Bajaj

12 GandhidhamBranch

CA Atulkumar Kakkad CA Karan Thacker CA Jainish Patel CA Sanjay Chotara CA Vishal Doshi

13 GoaBranch CA Ulhas Dhumaskar CA Varsha Deshpande CA Gaurav Kenkre CA Dattaram Vengurlekar CA Yashwant Kasar

14 IchalkaranjiBranch

CA Nagnath Basude CA Vijay Dudharkar CA Nitin Ladha CA Mukesh Malani CA Arpit Kabra

15 JalgaonBranch CA Smita Bafna CA Sagar Patni CA Saurabh Subhash Lodha

CA Prashant Agrawal CA Umesh Sharma

16 JamnagarBranch CA Sanjeev Chamanlal Buddh

CA Dipesh Lalitchandra Bhoot

CA Sheela Mansukhlal Dattani

CA Kirit Shantilal Bheda CA Hitesh Pomal

17 KalyanDombivliBranch

CA Saurabh Marathe CA Ankit Agarwal CA Jeetu Ramrakhiyani CA Mayur Jain CA Murtuza Kachwala

18 KolhapurBranch CA Amit Madanrao Shinde CA Anil Rajaram Chikodi CA Tushar Ganesh Anturkar

CA Chetan Vijaykumar Oswal

CA Yashwant Kasar

19 LaturBranch CA Salunke Vinod Balaji CA Rajesh Brijkishor Agrawal

CA Dwarkadas Ramanuj CA Vishal Narsing Chavan CA Sushrut Chitale

20 NagpurBranch CA Suren Duragkar CA Kirit Kalyani CA Saket Bagdia CA Jitendra Saglani CA Abhijit Kelkar

21 NandedBranch CA Kunal Malpani CA Anand Kabra CA Mayur Agarwal CA Tousif Ahmed CA Lalit Bajaj

22 NashikBranch CA Harshal Deelip Surana CA Rohan Vasant Andhale CA Rajendra Vishram Shete

CA Sohil Paresh Shah CA Arun Anandgiri


Sr. No.

NameoftheBranch

Chairman/Chairperson Vice-Chairman Secretary Treasurer BranchNominees

23 NaviMumbaiBranch

CA Jayawant D. Tandel CA Santosh Sharma CA Abhishek Shah CA Sanjay Bhujbal CA Murtuza Kachwala

24 NavsariBranch CA Vidhyut B. Ghael CA Jarviz N. Suratwala CA Suhail H. Memon CA Amit A.Mehta CA Rakesh Alshi

25 PimpriChinchwadBranch

CA Santosh Chandulalji Sancheti

CA Simran Kamlesh Lilwani

CA Pankaj Kalyanmal Patni

CA Sachin Ramniwas Bansal

CA Anand Jakhotiya

26 PuneBranch CA Chitale Ruta Subhash CA Dhamne Abhishek Shashikant

CA Ladda Sameer Purshottam

CA Pathare Kashinath Balasaheb

CA Yashwant Kasar CA Anand Jakhotiya CA Arun Anandgiri"

27 RajkotBranch CA Bhavin Mehta CA Vinay Sakariya CA Hardik Vyas CA Jignesh Rathod CA Drushti Desai

28 RatnagiriBranch CA Anthony John Rajshekhar

CA Bipin Rasiklal Shaha CA Anand Manohar Pandit CA Shashikant Sadashiv Kale

CA Shilpa Shinagare

29 SangliBranch CA Bhupalsingh Baldevsingh Sulhyan

CA Rajesh Chandrakant Bhate

CA Mahesh Vitthal Thanedar

CA Umeshkumar Madhukar Mali

CA Drushti Desai

30 SataraBranch CA Atul Doshi CA Anand Kasat CA Rushikesh Wangade CA Jivan Jagtap CA Abhijit Kelkar

31 SolapurBranch CA Chandrakant R. Injamuri

CA Prabhakar V. Gunjal CA Nilasha D. Nogaja CA Anand A. Peshwe CA Manish Gadia

32 SuratBranch CA Mihir R. Thakkar CA Ishwar Jivani CA Naveen Jain CA Pooja Murarka CA Sushrut Chitale

33 ThaneBranch CA Prasade Yogesh Sudhakar

CA Thakurdesai Suren Shrikrishna

CA Gharat Rahul Narayan CA Chhadwa Chetan Hirji CA Kamlesh Saboo

34 VapiBranch CA Gagan Chaturvedi CA Shyam Sundar Purohit CA Vinayak Bafana CA Kiran Shah CA Arpit Kabra

35 VasaiBranch CA Xavier M. Rajan CA Ankit Rathi CA Amit Agarwal CA Sorabh Agrawal CA Vimal Agarwal


To,TheCounciloftheInstituteofCharteredAccountantsofIndia,The Institute of Chartered Accountants of India

Reporton theAuditofFinancialStatements

Opinion

We have audited the accompanying financial statements of Western IndiaRegionalCouncil (‘WIRC’)of the InstituteofCharteredAccountantsof India (‘ICAI’) Branch of the Institute of Chartered Accountants of India (“the Institute”), which comprise the Balance Sheet as at March 31, 2019, the Statement of Income and Expenditure and a summary of significant accounting policies, notes forming part of accounts and other explanatory information (herein after referred to as “Financial Statements’’).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements for the year ended March 31, 2019 are prepared in all material respects in accordance with the Chartered Accountants Act, 1949, and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Western IndiaRegionalCouncil (‘WIRC’)of the Instituteof CharteredAccountants of India (‘ICAI’) Branch of the Institute as at March 31, 2019, its surplus for the year ended on that date

Basis forOpinionWe conducted our audit in accordance with the Standards of Auditing (SA’s) issued by the institute. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Management’sResponsibility for theFinancialStatementsThe Management is responsible for the preparation of these Financial Statements in accordance with The Chartered Accountants Act, 1949 that give a true and fair view of the financial position and financial performance of the WesternIndiaRegionalCouncil (‘WIRC’)oftheInstituteofCharteredAccountants of India (‘ICAI’) Branch of the Institute in accordance with the accounting principles generally accepted in India, including the Accounting Standards issued by the Institute. This responsibility also includes maintenance of adequate accounting records for safeguarding of the assets of the Institute and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’sResponsibility for theFinancialStatementsOur objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to express an opinion on these financial statements based on our audit.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors’ consider internal control relevant to the Institute’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Institute has in place an adequate internal control system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements.

OtherMattersWe have not audited Provision for gratuity and leave encashment liability, provision for Income Tax/obligations arising due to 26AS of Income Tax Website Payroll and other direct taxes as applicable, if any, is to be dealt at Head Office/ Decentralized Office.

ReportonOtherRegulatoryRequirements

Further,we report that:a) We have obtained all the information and explanations which

to the best of our knowledge and belief were necessary for the purpose of our audit;

b) In our opinion proper books of account as required by Chartered Accountants Act, 1949 have been kept by the WesternIndiaRegionalCouncil (‘WIRC’)of the InstituteofCharteredAccountantsofIndia(‘ICAI’) Branch of the Institute so far as appears from our examination of those books.

c) The Balance Sheet and Statement of Income and Expenditure dealt with by this Report are in agreement with the books of account.

d) In our opinion, the Balance Sheet, Income and Expenditure Account comply with the relevant Accounting Standards.

For and on behalf ofP.C.GhadialiandCo.LLP Chartered Accountants Firm No. 103132W/W-100037

SacchinGhadialli Partner Membership Number: 133178

Place: MumbaiDate: 27th April, 2019

INDEPENDENTAUDITOR’SREPORT


as at 31-Mar-2019 as at 31-Mar-2018

Sources of Funds:

Capital Account - 11 88,310,766 101,409,852

Reserves & Surplus-1101 88,310,766 101,409,852

Earmarked Funds - 110102 22,628,529 20,940,522

Reserves - 110101 65,682,237 80,469,330

Loans (Liability)

Current Liabilities-12 7,960,285 11,371,833

Duties & Taxes - 1201 -4,691,433 -2,430,145

Direct Tax - 120101 258,189 316,573

Indirect Tax - 120102 -4,949,622 -2,746,718

Sundry Creditors - 1203 3,706,706 5,566,821

Expenses Payable-Parties - 120303

4,946,706 5,566,821

Expenses Payable-Staff - 120301

-1,240,000

Other Liabilites - 1205 8,945,011 8,169,409

Deposits - 120501 2,240,675 1,006,175

Other Payable - 120502 6,704,336 7,163,234

Provisions - 1206 65,747

Provisions for Expenses - 120601

65,747

Branch / Divisions - 13 48,953,033 41,122,411

Branch/Division Transfer - 1301 9,132,670 17,244,815

Publication Current A/c - 130101 9,132,670 17,244,815

Inter Head Balances- BS-61 39,820,363 23,877,596

Capital Grant - 610102 22,589,279 22,589,279

Current Account - 610117 11,853,508 -3,839,616

Library Grant - 610103 5,377,576 5,127,933

Suspense A/c -14

Excess of expenditure over income

Opening Balance

Current Period -14,787,093 18,962,071

Less: Transferred -14,787,093 18,962,071

Total 145,224,083 153,904,096

Application of Funds:

Fixed Assets - 21 5,728,552 6,285,995

Intangible Assets - 2102 69,165

Software & Others - 210201 69,165

Tangible Assets - 2101 5,659,387 6,285,995

as at 31-Mar-2019 as at 31-Mar-2018

Airconditioner -2 10103 1,543,700 1,782,054

Computer - 210109 33,631 118,719

Electrical Installation & Fittings - 210102

29,345 32,605

Furniture & Fixures - 210104 2,957,136 3,268,190

Office Equipment - 210106 1,095,575 1,084,427

Investments - 22 119,894,253 126,571,416

General Investment - 2201 119,894,253 126,571,416

General Investment - FD with Bank - 220101

119,894,253 126,571,416

Current Assets-23 19,601,278 21,046,685

Deposits (Asset) - 2301 676,665 810,226

Security Deposit - 230101 676,665 810,226

Loans & Advances (Asset) - 2302 1,104,865 502,859

Other Advances - 230203 312,624 108,995

Prepaid Expenses - 230202 792,241 393,864

Sundry Debtors - 2303 -88,200 2,017,200

Receivables - 230301 -88,200 2,017,200

Cash-in-hand - 2304 18,475 66,673

Cash - 230401 18,475 66,673

Bank Accounts - 2305 8,527,789 -798,484

Bank - Main Account - 230501 8,527,789 -798,484

Other Assets - 2306 423,016 848,968

Other Receivable - 230603 11,308 45,680

TDS Receivable - 230606 411,708 803,288

Publication Stock - 2307 8,938,667 17,599,242

Stock - 230701 8,938,667 17,599,242

Total 145,224,083 153,904,096

The accompanying notes are an integral part of the Financial Statements

As per our report of even date

ForP.C.GhadialiandCo.LLPChartered AccountantsFRN : 103132W/W-100037

For WIRCofICAI

CA.PritiSavlaChairperson

CAUmeshSharmaVice-Chairman

SacchinGhadialliPartnerMembership No. 133178

CARakeshAlshiSecretary

CAYashwantKasarTreasurer

Date: 27th April, 2019Place: Mumbai

CAAmitaKavleAssistant Secretary

ShriRaviAroraJoint Director

WESTERN INDIA REGIONAL COUNCIL THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

BALANCE SHEET AS ON 31.03.2019


WESTERN INDIA REGIONAL COUNCIL THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

INCOME & EXPENDITURE STATEMENT FOR THE YEAR ENDED 31.03.2019

Particulars 1-4-2018 to 31-3-2019 1-4-2017 to 31-3-2018

Sales Accounts-31 2,230,610 2,349,140

Publication Sales-3101 2,230,610 2,349,140

Publication Income-310101 2,230,610 2,349,140

Direct Incomes-32 84,651,156 109,125,781

Fees Received-3201 45,175,322 37,327,407

Class Room Training Income-320104 45,175,322 37,327,407

Income Support Services-3204 9,968,372 3,554,052

Income Support Services-320401 9,968,372 3,554,052

Operating Income-3203 548,000 931,500

Journal Subscription-320303 548,000 931,500

Seminars Participation Fees-3202 28,959,462 67,312,822

Seminar Income-320201 28,959,462 67,312,822

Total Direct Income 86,881,766 111,474,921

Purchase Accounts-41 1,730,741 1,881,306

Employee Benefit Expenses-4202 8,872,428 10,607,413

Contribution to Funds-420202 658,196 839,366

Salary, Pension & Other Allowances-420201

8,018,637 9,622,990

Staff Welfare-420203 195,595 145,056

Operating Expenses-4204 68,573,227 62,983,172

Audit Fees-420420 58,000 58,000

Class Room Training - GMCS 14,339,891 7,781,279

Coaching Class expenses-420417 6,845,205 8,170,728

Journal Subscription Expenses-420401

4,788,432 5,188,532

Meeting Expenses-420419 2,339,827 3,017,474

Other Expenses-420423 6,375,600 6,590,426

Postage and Telephone-420407 1,161,254 1,511,091

Professional Expenses-420413 8,716,378 7,679,190

Reading Room Expenses-420424 5,595

Rent Rates & Taxes-420408 9,217,834 9,264,985

Repair & Maintenance-420411 11,031,423 7,906,459

Technology Expenses-420406 2,659,358 4,018,801

Travelling & Conveyance-420409 1,034,429 1,796,207

Printing and Stationery-4203 443,393 1,387,227

Printing & Stationery-420301

Seminar and Programs-4201 34,045,752 59,550,581

CA Day-420103 1,095,064 77,661

Particulars 1-4-2018 to 31-3-2019 1-4-2017 to 31-3-2018

Seminar Expenses-420101 29,667,769 53,037,338

Seminar Students Exp-420102 3,279,679 6,429,927

Yoga Day-420104 3,240 5,654

Total Direct Expenses 113,665,541 136,409,699

Indirect Incomes-33 7,691,269 8,324,726

Other Income-3301 7,691,269 8,324,726

Interest Received on Investment-330101

7,119,866 6,985,773

Other Income-330104 571,403 1,338,953

Inter Head Balances- IE-51 20,770,714 34,715,212

Audit Fee Grant-510109 26,500 52,500

BOS Related Grants Grant-510114 2,214,447 4,533,650

Branch Administration Grant-510105 136,500 272,500

Commission on Publication A/c-510112

39,267 1,048,965

Membership Fee Grant-510103 3,310,000 5,665,360

Public Relations Grant-510106 50,000

Revenue Grant-RC-510102 15,044,000 23,092,237

Indirect Expenses-43 1,107,782 1,308,327

Depreciation-4301 1,107,782 1,308,327

Depreciation-Intangible Assets-430102

12,319 29,446

Depreciation-Tangible Assets-430101

1,095,463 1,278,881

Excess of Income over Expenditure before Prior period Items;

570,426 16,796,833

Prior Period Items

Other Income-330104 403,600 2,469,986

Other Expenses-420423 15,761,119 304,748

Excess of Income over Expenditure after Prior period Items -14,787,093 18,962,071




For WIRCofICAI

CAPritiSavlaChairperson









NOTESFORMINGPARTOFACCOUNTSFOR THEYEARENDED31.03.2019

A) SIGNIFICANTACCOUNTINGPOLICIES

1. AccountingConvention The accounts are drawn up on accrual basis using historical cost

convention.

2. RevenueRecognition Income from Revenue Grants, membership fee grant, branch

administration grant, audit fee grant and student activity grant is accounted for on accrual basis as per the revenue budgets approved by the Head Office. Other grants are re-imbursible to WIRC on the basis of expenditure incurred for specific seminar/programme/event and accounted for on accrual basis Income from sponsorships is accounted for on receipt basis. Income and expenditure in respect of joint seminars, programs, workshops, conferences, etc. with other Institutions is accounted on the basis of share of income and expenditure mutually agreed upon.

3. AllocationofNewsletterprintingexpenses Expenses on printing of news relating to any Conference, Seminar,

Workshop or any other event in newsletter are allocated to concerned programmes, on the basis of the actual space utilized in the newsletter at the advertisement rates.

4. Income from Interest(a) Interest on fixed deposits with banks is accounted for at

the rates applicable to each such deposit.(b) Income from earmarked investments of specific funds

is credited to the respective earmarked fund account, routing the journal entries through ‘Interest on Fixed Deposit Account’. The total interest on long term investments is ` 83,17,622/- out of which interest of ` 16,88,007/- pertains to earmarked funds, which is credited to respective ‘Earmarked funds.’

5. Termination/RetirementBenefits Provision for gratuity and leave encashment liability is made at Head

Office.

6. FixedAssets/Depreciationi) Fixed Assets are stated at their original costs.

a. Depreciation on additions is provided on pro-rata basis.

b. Library books are depreciated @ 100% in the year of purchase.

c. Fixed Assets, other than software and library books are depreciated on the written down value method at following rates:

Air-conditioner 15% Electrical Installations 10% Furniture & Fixtures 10% Office Equipments 15% Computers 60%

d. Depreciation on software is provided @ 33.33% on straight line method.

7. ImpairmentofAssetsa. The carrying amounts of assets are reviewed at

each Balance Sheet date if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is higher of assets net selling

price and value in use. In assessing the value in use, the estimated future cash flows are discounted to their present value at the weighted cost of capital.

b. After impairment, depreciation is provided on the revised carrying amount of the assets over its remaining useful life.

8. Investments Investments are stated at cost, including cost of acquisition and

accrued interest thereon.

9. CurrentAssetsi) Stocks of stationery, mementos and publications

are valued at cost, except publications which are annual in nature and which are written off in the year of publication.

ii) Current Asset Publication Stock of Head Office are accounted at transfer price.

10. Provisions A provision is recognized when there is a present obligation as a

result of past events and it is probable that an outflow will arise. It is probable that outflow of resources will be required to settle the obligation in respect of which, a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best estimates required to settle the obligations at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

11. Provision for Income-tax Provision for Income-tax and other direct taxes, applicable if any, is

made at Head Office.

12. UnclaimedCheques Unclaimed cheques for more than three years amounting to

`1,26,571/- are transferred to Miscellaneous Income account on annual basis.

B) OtherNotes :1. Contingent Liabilities: As on 31-03-2019 : Nil (As on

31-03.2018 : Nil)2. Capital Commitment : As on 31-03-2019: Nil (As on

31-03-2018 – Nil)3. Publication stock of the ICAI has been shown after

reconciling actual stock received from Head Office with the quarterly consignment ledger sent by the Head Office and sales figure of this stock as generated by the bar coding software.

4. Expenses directly attributable to the activities of Seminar and Publications are charged to these heads of expenditure and indirect expenditure on these activities is charged to functional heads of expenditure.

5. TDS on interest on investments is accounted for at the time of deduction of TDS by the respective banks.

6. WIRC operates in the Western Region and there is only one reportable segment i.e. furtherance to the profession of Chartered Accountancy.

7. Disclosure of Prior Period Income and Expenses.

The prior period items of ` 1,57,61,119/- appearing under Other Expenses comprise mainly of the following items :

Particulars DetailsRevenue Grant Revenue Grant excess booked in the year

2017-18 around ` 1,24,84,824/- (Reversal in the year 2018-19 is based on Mail from Head Office dated 2nd April, 2018)

Students’ National Convention Grant

Students’ National Convention Grant ` 9,73,633 lakh excess booked in 2017-18 (Reversal in the year 2018-19 is based on mail from Head Office dated 8th April, 2019)


Particulars DetailsWICASA Grant WICASA Grant for ` 18,31,150 lakh excess

booked in year 2017-18 (Reversal in the year 2018-19 is based on mail from Head Office dated 15th April, 2019)

8. Office has paid ad hoc salary to permanent employees in lieu of implementation of 7th Pay Commission. This amount till 31st March, 2019 works out to ` 12.40 lakh. As per guidelines received from Head Office, the same is considered as Advance given to staff. Advance given to regular employees of ` 12.40 lacs is recoverable from head office.

9. The Input Tax Credit and Output Tax Credit under GST for the year 2017-18 and 2018-19 is under reconciliation with head office.

10. Common Expenses of BKC Premises are shared by Decentralized Office & WIRC in the ratio of 1:1.




For WIRCofICAI

CAPritiSavlaChairperson








Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018

Closing Balance Closing BalanceDebit Credit Debit Credit

W001-OT & Diet Payable to Staff-120502010

— 34,521 — 52,765

W001-Provision for Electricity Charges- 120502010

— 159,692 — 264,267

W001-Provision for Expenses - 120502010

— 766,300 — —

W001-Provision for Other Expenses - 120502010

— — — 34,200

W001-Provision for Property TAX Dadar-120502010

— — — 775,274

W001-Provision for Repair Cess-120502010

— 36,022 — 36,020

W001-Provision for Telephone Expenses - 120502010

— 612,400 — 10,000

W001-Provision for Water Charges-120502010

— 73,241 — 17,200

W001-Reading Room Fees Received in Advance-120502010

— 233,400 — 389,990

W001-Refund To Participants - 120502010

— 75,450 — 58,305

W001-Seminar Fees Received in Advance-120502010

— 1,666,748 — 578,650

W001-Staff Payable for Petty Cash-120502010

— 194,399 — 137,904

W001-TA / DA for Meeting-120502010

— 856,830 — 361,762

W001-UNCLAIMED CHEQUES - 120502010

— — — 732,873

W001-WIRC Oral Coaching Class Fees in Advance-120502010

— — — 2,223,064

W001-Anandkumar M Sahu-120502010

— — — 1,000

W001-Library Deposit Refund-120502010

— 3,000 — —

W001-Provision for Mass email & SMS charges-120502010

— 73,136 — 73,600

W001-Provision for Statutory Audit Fees-120502010

— — — 30,000

W001-Provisison for contractual staff charges-120502010

— 53,200 — 128,820

W001-Sunil kishor Sabat-120502010

— — — 1,000

W001-Unidentified credited from HO and others-120502010

— 11,974 — 136,144

Other Liability - Out dated cheque-120502008

— 480,301 — —

Grand Total 8,945,011 8,169,409

OtherLiabilites-1205Group Summary

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018


Deposits-120501 — 2,240,675 — 1,006,175EMD payable-120501003 — 1,183,000 — —Library Deposits-120501001 — 1,057,675 — 1,006,175Security Deposit payable-120501004

— — — —

Other Payable-120502 — 6,704,336 — 7,163,234Other Liabilities-120502010 — 6,224,035 — 7,163,234W001-CABF-120502010 — 19,677 — 53,877W001-Chairman Fund-120502010

— 257,045 — 278,065

W001-Excess Seminar Fees Received-120502010

— — — 1,154

W001-GMCS Fees Received in Advance-120502010

— 722,000 — 730,000

W001-Newsletter Advertisement Advance A/c-120502010

— 375,000 — 56,100

W001-OLD INTEREST & PENALTY ON TDS PAYABLE-120502010

— — — 1,200


OtherPayable-120502Group Summary

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018

Closing Balance Closing Balance

Debit Credit Debit Credit

Other liabilities-120502010 — 6,224,035 — 7,163,234

W001-CABF-120502010 — 19,677 — 53,877

W001-Chairman Fund-120502010

— 257,045 — 278,065

W001-Excess Seminar Fees Received-120502010

— — — 1,154

W001-GMCS Fees Received in Advance-120502010

— 722,000 — 730,000

W001-Newsletter Advertisement Advance A/c-120502010

— 375,000 — 56,100

W001-OLD INTEREST & PENALTY ON TDS PAYABLE-120502010

— — — 1,200

W001-OT & Diet Payable to Staff-120502010

— 34,521 — 52,765

W001-Provision for Electricity Charges-120502010

— 159,692 — 264,267

W001-Provision for Expenses-120502010

— 766,300 — —

W001-Provision for Other Expenses-120502010

— — — 34,200

W001-Provision for Property TAX Dadar-120502010

— — — 775,274

W001-Provision for Repair Cess-120502010

— 36,022 — 36,020

W001-Provision for Telephone Expenses-120502010

— 612,400 — 10,000

W001-Provision for Water Charges-120502010

— 73,241 — 17,200

W001-Reading Room Fees Received in Advance-120502010

— 233,400 — 389,990

W001-Refund To Participants-120502010

— 75,450 — 58,305

W001-Seminar Fees Received in Advance-120502010

— 1,666,748 — 578,650

W001-Staff Payable for Petty Cash-120502010

— 194,399 — 137,904

W001-TA / DA for Meeting-120502010

— 856,830 — 361,762

W001-UNCLAIMED CHEQUES-120502010

— — — 732,873

W001-WIRC Oral Coaching Class Fees in Advance-120502010

— — — 2,223,064

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018



W001-Anandkumar M Sahu-120502010

— — — 1,000

W001-Library Deposit Refund-120502010

— 3,000 — —

W001-Provision for Mass email & SMS charges-120502010

— 73,136 — 73,600

W001-Provision for Statutory Audit Fees-120502010

— — — 30,000

W001-Provisison for contractual staff charges-120502010

— 53,200 — 128,820

W001-Sunil kishor Sabat-120502010

— — — 1,000

W001-Unidentified credited from HO and others-120502010

— 11,974 — 136,144

Other Liability - Out dated cheque-120502008

— 480,301 — —

Grand Total — 6,704,336 — 7,163,234

FeesReceived-3201

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-5-2018


Class Room Training Income-320104

— 45,175,322 — 37,327,407

Coaching Class Fees-320104005

— 8,845,624 — 12,717,497

GMCS-II Fees-320104004 — 33,072,000 — 21,456,500 Reading room income-320104006

— 3,257,698 — 3,153,410

Grand Total — 45,175,322 — 37,327,407

SeminarsParticipationFees-3202Group Summary

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018


Seminar Income-320201 — 28,959,462 — 67,312,822 Seminar income-Members - 320201001

— 20,667,792 — 46,763,689

Seminar Income- Non Members - 320201003

— 6,010,361 — 12,025,285

Seminar income- Students - 320201002

— 2,281,309 — 8,523,848

Grand Total — 28,959,462 — 67,312,822


OtherIncome-330104Group Summary

Particulars1-4-2018to31-3-2019 1-4-2017to31-3-2018


Library Deposits Written Back-330104017

— — — 228,000

Misc Receipts-330104003 — 318,954 — 537,954 Provision No Longer required-330104001

— 168,748 — 554,455

Sales of Pulping-330104021 — 83,591 —Student Association Other Income-330104019

— 110 — 18,544

Grand Total — 571,403 — 1,338,953



Prior Period Income- 330104015 — 403,600 — 2,469,986

OtherExpenses-420423Group Summary



Bank Commission - 420423004 186,135 — 557,705 —Election Exp-420423008 — — — —GST Expense-420423029 4,450,184 — 726,556 —Magazines & Periodicals - 420423002

48,856 — 60,658 —

Misc Exp-420423017 734,346 — 2,370,176 —Office Exp-420423016 921,200 — 2,368,363 —Student Association Other Expense-420423027

33,380 — 505,968 —

Transportion charges (FRIEGHT) - 420423012

1,500 — 1,000 —

Grand Total 6,375,600 — 6,590,426 —

PriorPeriodExpensesincludedin‘OtherExpenses



Prior Period Exp - 420423007 15,761,119 — 304,748 —

Repair&Maintenance-420411Group Summary

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018



Airconditioner Maintenance - 420411006

175,000 — 31,090 —

Computer Maintenance - 420411005

— — 6,144 —

HouseKeeping Maintenance - 420411009

2,912,193 195,029 1,788,985 —

Library Maintenance - 420411004 251,478 — 284,370 —

Repairs & Maintenance - 420411002

4,442,443 — 2,779,220 —

Security Arrangements - 420411001

3,445,338 — 3,016,649 —

Grand Total 11,226,452 195,029 7,906,459 —

TechnologyExpenses-420406Group Summary

Particulars

1-4-2018to 31-3-2019

1-4-2017to 31-3-2018



Broadband (INTERNET) Expenses - 420406002

504,799 — 403,068 —

Mass Mail & SMS Charges-420406004

1,904,559 — 3,278,233 —

Technology Others-420406006 — — 25,000 —

Website dev & maint charges-420406003

250,000 — 312,500 —

Grand Total 2,659,358 — 4,018,801 —

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