ANNUAL REPORT 2016 - 2017 on GST held at Puri (Odisa) organized by IDTC of ICAI 18 CA. M. N....

Ranchi Branch of CIRC of The ICAI

ANNUAL REPORT2016 - 2017

RANCHI BRANCH OF

CENTRAL INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the 30th Annual General Meeting of the Ranchi Branch of Central India Regional Council of The Institute of Chartered Accountants of India shall be held on Monday, 10th July, 2017 at ICAI BHAWAN, Dr. Mukti Saran Lane, H. B. Road, Ranchi at 10.30 A.M. to transact the following business: 1. To receive the Annual Report of the Branch for the year ended on 31st March, 2017. 2. To receive the Audited Statement of Accounts for the year ended on 31st March, 2017 together with

the Auditors’ Report thereon. 3. To transact such other matter as may be brought before the meeting with the permission of the

Chairman. Note: If within half an hour from the time mentioned in this notice a quorum of the members is not present,

the meeting shall be adjourned to Monday, 17th July, 2017 at the same time and place. At the adjourned meeting, the members present, whatsoever be the number, shall have the power to transact all business which could properly be transacted by the meeting originally convened had the necessary quorum been present thereat.

For and on behalf of Managing Committee

(CA. Mahendar Kr. Jain)

Secretary Place: Ranchi Date: 15.06.2017

30th ANNUAL REPORT 2016-2017 (TO ALL THE MEMBERS OF RANCHI BRANCH OF CIRC OF ICAI)

Respected Members,

The Managing Committee is pleased to present the 30th Annual Report of the Ranchi Branch of Central India Regional Council of The Institute of Chartered Accountants of India, together with the Audited Accounts for the year ended on 31st March, 2017. We are also pleased to inform you that CIRC has awarded our Ranchi Branch of CICASA with “Highly Commendable Branch Award - 2016” for the year 2016. MANAGING COMMITTEE

During the year under review, election was held on 28th February 2017 and thereafter the following Office Bearers for the year 2017-2018 were elected:- 1. CA. Binod Kr. Pandey Chairman

2. CA. Raj Kumar Vice-Chairman

3. CA. Mahendar Kr. Jain Secretary

4. CA. Ashish Kushwaha Treasurer

5. CA. Manisha Biyani Member

6. CA. Manish Jain Member

7. CA. Sandeep Kr. Jalan Member

8. CA. Vikash Kumar Member

The new committee took charge on 28th February, 2017. CIRC has nominated CA. Mukesh Singh Kushwah as Ex-Officio Member for the year 2017-18. The Managing Committee considers it a privilege to express sincere thanks and appreciation to the Managing Committee Members and Sub-Committee Members of 2016-17. We are also thankful to all the Members and Students for their active support in successful organisation of all events organised by the Branch.

SUB-COMMITTEES

As per the guidelines of the Institute and for the smooth functioning of the Branch, the following Sub-Committees were formed: CPE Sub-Committee CA. Vikash Kumar - Chairman

ITT CA. Ashish Kushwaha - Chairman

Members in Industry CA. Vikash Kumar - Chairman

News Letter & Website CA. Raj Kumar - Chairman

Students CA. Manisha Biyani - Chairman

Chairman and Secretary of the Branch shall be Ex-officio Members in all the above Sub-Committees.

COMMITTEE MEETINGS

To plan the activities of the Branch, the Managing Committee meets from time to time. From 1st April 2016, the Managing Committee held 11 meetings up to 31st March, 2017. The table below gives the details of Attendance of each Managing Committee Members:

Meeting of Managing Committee (2016-2017):

Name Total No. of Managing Committee Meeting

No. of Meeting Attended

CA. Binod Kr. Pandey 11 8 CA. Raj Kumar 11 8 CA. Mahendar Kr. Jain 11 8 CA. Ashish Kushwaha 11 6 CA. Manish Jain 11 10 CA. Manisha Biyani 11 9 CA. Sandeep Kr. Jalan 11 11 CA. Vikash Kumar 11 7 CA. Gyan Chandra Mishra 11 1 GRANT FROM THE INSTITUTE

(A) Capital Grant- No any proposal made for Capital Grant for the year – 2016-17

(B) Recurring Capital Grant- Nil

(C) Recurring Library Grant – Out of Recurring Library Grant of Rs. 30,000/- for the Financial Year 2016-17 the Branch has purchased Books & Web portal worth Rs. 5,900/-.

(D) Revenue Grant & Membership Grant – The Branch has Received Revenue Grant & Membership Grant of Rs.2,82,100/- for the Financial Year 2016-17 as per the branch entitlement.

SEMINARS, CONFERENCES & CPE PROGRAMMES:

During the period under consideration following seminars/Conferences were organised by the Branch as detailed below:

A. Seminar/Conference/ Workshop/ Half Day Seminar/ Group Discussion 1. Two Days/Three Days Seminars/Conferences/ Residential Refresher Course

Sl. Date Activities/ Particulars CPE Hours

Guest/Speaker

01 23-24th July, 2016

Two Days Programme on “Service Tax & GST” organized by IDTC of ICAI

12 Mr. P. K. Sharma, President, FJCCI CA. Anand Saiprasad, Bangalore CA. Gaurav Gupta, New Delhi CA. Roopa Nayak, Bangalore CA. Akhil Gupta, New Delhi

02 11th-13th Nov., 2016

1st Three Days Residential Refresher Course on GST held at Puri (Odisa) organized by IDTC of ICAI

18 CA. M. N. Hiregnage, CCM of ICAI CA. Akhil Gupta, New Delhi CA. Anand Saiprasad, Bangalore CA. M. L. Madan, New Delhi CA. Jogesh Gogri, Mumbai CA. Rohini Agarwal, New Delhi

03 11th – 13th

January, 2017

Three Days national Conference on GST

18

Sri Amit Khare, Additional Chief Secretary, Govt. of Jharkhand CA. Abhay Chhajed, Chairman – CIRC CA. Nitesh Gupta, Secretary - CIRC CA. Anand Saiprasad, Bangalore CA. Gaurav Gupta, New Delhi CA. M. L. Madan, New Delhi CA. Rohini Agarwal, New Delhi CA. Roopa Nayak, Bangalore

2. Full Day Seminar/ Conferences


Guest/Speaker

01 25.06.2016 Seminar on “ Direct Taxes & Companies Act, 2013”

6 CA. S. S. Gupta, Kolkata CA. Sumit Binani, Kolkata

02 03.09.2016 Seminar on “ Direct Tax, Forensic Audit & Companies Act, 2013” organized by PRC of ICAI

6 CA. Naveen N.D. Gupta, CCM of ICAI CA. CA. Manu Agarwal, CCM of ICAI CA. A. Mukhopadhyay, Kolkata

03 28.03.2017 Seminar on “Bank Branch Audit & Bankruptcy Code – 2016 and Professional Opportunities”

6 Sri N. P. Topno, RD, SBI – Patna Sri Sudipta Kr. Mukherjee, GM, bank of India – Bihar & Chhatisgarh Sri Debanand Sahu, Zonal manager – Canara Bank, Ranchi CA. Abhijit Bandhopadhyay, , FCA, Kolkata CA. Kamal Nayan Jain, FCA, Kolkata

3. Half Day Programme


Guest/Speaker

01 01.04.2016 Seminar on “ Bank Branch Audit” 3 CA. M. K. Jain, Ranchi CA. Nishant Surabh, Ranchi CA. Deepak Garodia, Ranchi

02 14.05.2016 Seminar on “ Section – 56 of IT Act” 2 CA. R. K. Kaushal, Ranchi 03 02.07.2016 Awareness Seminar on “ IDS –

2016” 2 Mr. T. K. Dutta, PCIT

CA. R. K. Kaushal 04 31.08.2016 Workshop on “Overview on GST &

Emerging Opportunities available for Young CAs.”

3 CA. Mukesh Singh Kushwa, CCM of ICAI CA. Virender Chauhan

05 26.10.2016 Seminar on “ Prepared & Technology for GST”

2 Mr. Varun Sethi Mr. P. K. Bowmik

06 17.11.2016 Live Telecast on “Demonetization of Currency – Overview and Impact”

2

07 09.11.2016 GD on “ Demonetization of Currency”

Nil CA. Rajiv Ranjan, Ranch. CA. R. K. Garodia, Ranchi

08 10.12.2016 Seminar on “ Registration, Payment of Taxes & Filing of Returns under GST”

2 CA. Neeraj Kr. Gakhar, Ranchi

09 01.02.2017 Live Webcast of Union Budget -

2017 Nil

10 08.02.2017 Panel Discussion on “ Compliance for cash Transaction made during 09.11.2016 to 31.12.2016”

Nil CA. R. K. Kaushal CA. Rajiv Ranjan CA. S. N. Rajgarhia

4. Post Qualification Course Sl. Held from

.. to Course Name CPE

Hrs. Number of Participants

01 28.05.2016 to

19.06.2016

ISA-PT Course 25 62.Participants

5. CA Foundation Day Programme Sl. Date Activities/ Particulars Guest/Speaker 01 01.07.2016 CA Day Celebration:

1. Go Green Rally 2. Flag Hositing 3. Mega Blood Donation Camp

Mr. R. K. Srivastava, Director – RIMS

02 03.07.2016 CA Day Celebration: 1. Tree Plantation programme 2. Cloth Distribution 3. Study Kits Distribution

04 06.07.2017 Awareness Programme with Newspaper Dainik Jagran, Ranchi for Plantation

03 23.07.2016 In House CA Foundation Day Cultural Programme

6. Family Get Together/Sports/ Cultural Programme/Other Activities Sl. Date Activities/ Particulars 01 19th-21st

May, 2016 1st Chartered Accountants Premier League Cricket Tournament

02 26.06.2016 Indoor Game 1. Table Tennis 2. Badminton

03 15.08.2016 Independence Day Flag Hoisting Prrogramme 04 01.10.2016 1st MEGA Dandiya Night Programme 05 26.01.2017 Republic Day Flag Hoisting 06 26.01.2017 ICAI Family PICNIC - 2017 07 12.03.2017 ICAI Holi Meet GMCS, ORIENTATION COURSE & ITT Course

Branch has regularly conducting GMCS Course, Orientation Course and ITT Courses as per requirement.

OTHER ACTIVITIES In addition to activities as stated above the Branch has also conducted various other activities during the

year. Few are mentioned below:

- Flag Hoisting Programme on the occasion of Chartered Accountant’s Day on 1st July 2016, Independence Day 15th August 2016 and Republic Day 26th January 2017.

- Coordinated two days training programme from 26th to 27th October, 2016 on ‘Implementation of

Double Entry Accrual System (DEAS) of Accounting and Financial Management Reforms in Urban

Local Bodies (ULBs)’ jointly organized by ICAI and Directorate of Municipal Administration,

Department of Urban Development and Housing , at Ranchi (Jharkhand).

- GST Awareness programme organised through Print Media with Prabhat Khabar, Ranchi.

- Participated in meeting of State Level Coordination Committee for Non-Banking.

ACKNOWLEDGEMENTS The Managing Committee is pleased to record deep appreciation for the support and services rendered by various persons, organisations and institutions;

- The President, Vice-President, Past President of ICAI and the Chairman, Vice – Chairman, Secretary

and other Central and Regional Council Members. - Speakers, Co-ordinators of various Programmes. - Statutory Auditors. - All the sponsors for sponsoring the Programmes & activities. - Our Bankers. - Every Member and Student of the Branch for their support in the various activities of the Branch

directly or indirectly. - Members of Press and Media, who have given adequate coverage of the programmes conducted

throughout the year. - Staff members of Branch Office for their sincere and dedicated efforts in the overall administration of

the Branch affairs.

For and on behalf of Managing Committee

Place: Ranchi (CA. Mahendar Kr. Jain) Date: 15.06.2017 Secretary

Current Year 31.03.2017

Previous Year 31.03.2016

Amount (Rs) Amount(Rs)A INCOME1 GRANTS RECEIVED BY BRANCH

a. Revenue Grant 200,000.00 200,000.00 b. Membership Fee Grant 82,100.00 79,200.00 c. Statutory Audit Fee Grant 18,000.00 18,000.00 d. CA Day Celebration Grant 30,000.00 30,000.00

2 Receipts from Seminars/Conferences 4,947,531.00 1,777,991.00 3 Commission on Sale of Publications 141,382.00 124,835.00 4 Fee from G. M. & C. S. Classes 395,000.00 905,000.00 5 Fee from Orientation Programme 1,029,500.00 663,000.00 6 Fee from ITT Course P 979,000.00 1,139,000.00 7 Interest on Investments & Saving Bank Accounts Q 1,106,386.00 1,044,412.00 8 Other Income R 100.00 375.00 9 Prior Period Income 200.00 2,200.00

TOTAL 8,929,199.00 5,984,013.00 B EXPENDITURE1 Salaries, Bonus to Staffs 445,756.00 369,240.00 2 Printing ,Stationery & Photocopying 6,064.00 17,979.00 3 Postage, Telegram & Telephone 17,735.00 16,419.00 4 Rent, Rates & Taxes 15,480.00 196.00 5 Repairs & Maintenance 37,193.00 76,667.00 6 ITT Course Expenses S 842,511.00 888,432.00 7 Travelling Expenses - Members 242,722.00 140,104.00 8 Conveyance - Staff 6,900.00 8,836.00 9 Magazines & Periodicals 1,910.00 1,648.00 10 Electricity Expenses 60,698.00 63,494.00 11 Seminar/ Conference Expenses 4,632,633.00 1,561,075.00 12 Professional Fees-Statutory Audit Fees 20,700.00 20,610.00 13 Other Expenses T 310,489.31 283,907.00 14 Orientation Programme Expenses 534,877.00 215,761.00 15 G. M. & C. S. Expenses 291,177.00 574,625.00 16 Chartered Accountants Day Celebration Expenses 40,799.00 28,006.00 17 Building Maintenance Expenses 26,615.00

Less : Transfer to Building Maintenance Fund 26,615.00 NIL NIL18 Prior Period Expenses 35,709.00 NIL19 Loss on Removal of Fixed Assets 8,257.00 NIL20 Depreciation F 475,964.00 506,606.00

TOTAL 8,027,574.31 4,773,605.00 Surplus during the year 901,624.69 1,210,408.00 Appropriation to Funds/ Reserves:- Transferred to Building Maintenance Fund (Interest on FD) 144,194.00 132,638.00

600,661.00 608,642.00 27,855.00 32,876.00

128,914.69 436,252.00 TOTAL 901,624.69 1,210,408.00

Significant Accounting Policies and Notes on Accounts U

For A. K. Kejariwal & AssociatesChartered Accountants

Particulars

- Transferred to ITT Earmarked Fund

Sl. No.

- Transferred to General Reserve

Sch

In terms of our report of even date annexed.

RANCHI BRANCH OF CIRC OF ICAI

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31.03.2017

Notes and Schedules referred to above form part of the financial statements.

- Transferred to Merit Award Earmarked Fund (Interest on FD)

For Ranchi Branch of CIRC of ICAIChartered Accountants

(CA. Arun Kumar Kejariwal) (CA. Binod Kr. Pandey) (CA. Mahendar Kr. Jain) (CA. Ashish Kushwaha)Partner Chairman Secretary TreasurerMem. No. 075140FRN. 006370C

Place : RanchiDate : 22.04.2017

For Ranchi Branch of CIRC of ICAI

Sl. Particulars SchCurrent Year

31.03.2017Previous Year

31.03.2016no. Amount(Rs) Amount(Rs)

SOURCES OF FUNDA RESERVES & SURPLUS

i) Capital Reserve NIL NIL

ii) General Reserve A 11,319,068.21 11,190,153.52

iii) Other Reserve NIL NIL

B EARMARKED FUNDS i) Earmarked Fund - Building NIL NIL

ii) Earmarked Fund - Building Maintenance B 1,401,253.00 1,283,674.00

iii) Earmarked Fund - ITT Centre C 4,816,024.00 4,215,363.00

vi) Earmarked Fund - Merit Award D 350,990.00 323,135.00

C CURRENT LIABILITIES & PROVISIONS ECurrent 274,925.00 207,578.00 Non-Current NIL NIL

D INTER UNIT BALANCESi) Regional Council Current Account NIL NILii) Central Council Accountiii) Capital Grant 2,932,070.00 2,769,620.00 iv) Publication Stock Transfer Account 631,265.00 504,125.00 v) ICAI Publication Payable Account Nil - vi) Ranchi Branch of CICASA 64,414.00 NIL

TOTAL 21,790,009.21 20,493,648.52 APPLICATION OF FUNDS

A FIXED ASSETSi) Fixed Assets (Including Land & Building) F 6,041,903.25 6,428,320.25

ii) Fixed Assets - ITT G 290,453.00 334,245.00

B INVESTMENTSi) Earmarked Investment - Building Maintenance H 1,401,253.00 1,283,674.00

ii) Earmarked Investment - ITT Centre I 4,816,024.00 4,215,363.00

iv) Earmarked Investment - Merit Award J 350,990.00 323,135.00

v) General Investments KCurrent 5,305,332.00 - Non-Current 1,350,493.00 6,110,226.00

C ASSETS Li) Current Assets 276,315.00 4,000.00

Non-Current Assets 7,100.00 20,047.00 ii) Advances & Prepayments M

Current 22,000.00 164,776.00 Non-Current NIL NIL

iii) Cash & Bank Balances (Current) N 501,864.96 201,952.27

RANCHI BRANCH OF CIRC OF ICAIBALANCE SHEET AS AT 31.03.2017

D INTER UNIT BALANCESi) Regional Council Account NIL NILii) ICAI Current Account O 795,016.00 903,785.00 iii) ICAI Publication Stock Account 631,265.00 504,125.00

TOTAL 21,790,009.21 20,493,648.52 Significant Accounting Policies and Notes on Accounts U




In terms of our report of even date annexed.


Notes and Schedules referred to above form part of the financial statements.

ParticularsCurrent Year 31.03.2017

Previous Year 31.03.2016

Amount(Rs) Amount(Rs)Schedule - AGeneral ReserveOpening Balance as at 01.04.2016/01.04.2015 11,190,153.52 10,753,901.52Add: Surplus during the year 128,914.69 436,252.00 Total 11,319,068.21 11,190,153.52

Schedule - BEarmarked Fund - Building MaintenanceOpening Balance as at 01.04.2016/01.04.2015 1,283,674.00 1,219,595.00Add: Transfer from Income & Expenditure Account 144,194.00 132,638.00

1,427,868.00 1,352,233.00 Less : Expenses on Building Maintenance 26,615.00 68,559.00

1,401,253.00 1,283,674.00

Schedule - CEarmarked Fund - ITT CentreOpening Balance as at 01.04.2016/01.04.2015 4,215,363.00 3,606,721.00Add: Transfer from Income & Expenditure Account 600,661.00 608,642.00

4,816,024.00 4,215,363.00 Schedule - DEarmarked Fund - Merit AwardOpening Balance as at 01.04.2016/01.04.2015 323,135.00 310,489.00 Add: Fund Received NIL NIL Transfer from Income & Expenditure Account 27,855.00 32,876.00

350,990.00 343,365.00 Less : Expenses of Merit Awards 0.00 20,230.00

350,990.00 323,135.00 Schedule - ECurrent Liabilities & ProvisionsCurrent Advance Fee for ITT Course 15,000.00 52,000.00 Advance Fee for Advance ITT Course 48,000.00 15,000.00 TDS Payable 11,025.00 3,968.00 Advance Fee for Orientation Programme 68,000.00 57,000.00 Advance Fee for GMCS-I Course 31,500.00 26,000.00 Advance Fee for GMCS-II Course 5,500.00 NILProvision for Expenses 37,700.00 33,000.00 Audit Fee Payable 20,700.00 20,610.00 Sundry Creditor for Expenses 37,500.00 NIL

274,925.00 207,578.00 Non-Current NIL NIL

Schedule - HEarmarked Investment - Building Maintenance Opening Balance as at 01.04.2016/01.04.2015 - Fixed Deposits with Bank including accrued Interest 1,283,674.00 1,219,595.00 - Balance in Saving Bank Account NIL NIL

Total Opening balance 1,283,674.00 1,219,595.00 Add: Interest on Fixed Deposit 144,194.00 132,638.00 Less: Utilised from Saving Bank Account and Interest on FD NIL NILLess: Fund transfer to General Investment 26,615.00 68,559.00

1,401,253.00 1,283,674.00


AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED ON 31.03.2017SCHEDULES FORMING PART OF THE BALANCE SHEET AS AT 31.03.2017

ParticularsCurrent Year


31.03.2016Amount(Rs) Amount(Rs)

Schedule - IEarmarked Investment - ITT CentreOpening Balance as at 01.04.2016/01.04.2015 4,215,363.00 3,600,221.00 (Fixed Deposits with Bank including accrued Interest)Opening Balance as at 01.04.2016/01.04.2015 at SB A/C NIL NILAdd: New Fixed Deposit during the year out of earmarked receipts 244,750.00 291,250.00 Balance in Saving Account NIL Nil Interest on Fixed Deposit 355,911.00 323,892.00

4,816,024.00 4,215,363.00 Schedule - JEarmarked Investment - Merit Awards - Fixed Deposits with Bank as at 01.04.2016/01.04.2015 296,000.00 296,000.00 Add: New Fixed Deposit NIL NILTotal : Fixed Deposit (A) 296,000.00 296,000.00 - Interest Receivable as on 01.04.2016/01.04.2015 17,439.00 1,225.00 Add: Interest receivable during the year 9,314.00 17,439.00 Less: Interest received transfer to SB Account 17,439.00 1,225.00 Total : Interest Receivable (B) 9,314.00 17,439.00 - Balance in Saving Account as on 01.04.2016/01.04.2015 9,696.00 13,264.00 Add: transfer from Interest receivable of Merit Award Invstment 17,439.00 1,225.00 Interest received from Merit Award Investment during the year 18,541.00 15,437.00 Less: utilised the Saving Account Balance 0.00 20,230.00 Total : Balance in Saving Bank Account (B) 45,676.00 9,696.00

Grand Total 350,990.00 323,135.00 Schedule - KGeneral InvestmentsCurrent (At Cost)- Fixed Deposits with Scheduled Banks 4,347,734.00 0.00- Interest Receivable on Fixed Deposits 957,598.00 0.00

Total Current Investment 5,305,332.00 0.00Non-Current (At Cost)- With Scheduled Banks 979,383.00 5,327,117.00 - Interest Receivable on Fixed Deposits 343,395.00 713,450.00 Silver Coin (1 Pc.) 1,100.00 1,100.00 Add: Transfer from Building Maintance Investment 26,615.00 68,559.00

Total Non-Current Investment 1,350,493.00 6,110,226.00 Grand Total 6,655,825.00 6,110,226.00

Schedule - LAssetsCurrent AssetsReceivable against Seminar/Conference 276,315.00 4,000.00

276,315.00 4,000.00 Non-Current AssetsReceivable against Seminar/Conference 7,100.00 20,047.00

7,100.00 20,047.00 Grand Total 283,415.00 20,047.00

Schedule - MAdvances & PrepaymentsCurrentSecurity deposited for water Jar NIL 400.00 Advance for Expenses NIL 114,876.00 Advance - Employees 22,000.00 49,500.00 Non-Current NIL NIL

22,000.00 164,776.00 Schedule - N


Schedule - NCash & Bank Balances (Current)Cash in Hand 3,600.00 1,680.00 Cheque in Hand 12,500.00 NILBalance in Saving Bank Accounts 485,764.96 200,272.27

501,864.96 201,952.27 Schedule - OICAI Current AccountCPE Grant Receivable (old) 18,301.00 18,301.00 Commission on Sales of Publications Nil 310,339.00 Revenue Grant (2nd Qtr - 2016-17) 225,075.00 74,300.00 Salary to Branch Staff 346,070.00 216,170.00 TDS - Refundable 183,883.00 168,183.00 Reimbursement of Expenses of SLCPB (old) 9,230.00 9,230.00 Reimbursement of expenses of Meeting of CCCTF of ICAI 6,637.00 6,637.00 Reimbursement of Expenses from CCBCAF & SMPs of ICAI 5,820.00 5,820.00 Reimbursement of Expenses of deficit of FAFP awarness programme Nil 70,983.00 CICASA Expenses receivable Nil 23,822.00

795,016.00 903,785.00

ParticularsCurrent Year


31.03.2016Amount(Rs) Amount(Rs)

Schedule - PFees Received for ITT CourseFees for 100 hrs ITT Course 844,000.00 1,044,000.00 Fees for Advance ITT Course 135,000.00 95,000.00

979,000.00 1,139,000.00 Schedule - QInterest on Investments & Saving Bank Accounts Interest on Fixed Deposits 1,046,944.00 980,506.00 Interest on SB A/cs 59,442.00 63,906.00

1,106,386.00 1,044,412.00 Schedule - ROther IncomeNomination Fees for Election 0.00 275.00 Miscellaneous Income 100.00 100.00

100.00 375.00 Schedule - SExpenses of ITT Course15% Share to H. O. for 100 Hrs ITT Course 126,600.00 156,600.00 15% Share to H. O. for Advance ITT Course 20,250.00 14,250.00 Faculties & Staffs - Honorarium & salaries Expenses 452,310.00 458,157.00 Depreciation (Annexure - G2) 46,391.00 46,255.00 Loss on discarded fixed Assets 30,701.00 54,148.00 Electricity Expenses 60,370.00 63,494.00 Postage,Phone & Broadband Expenses 18,360.00 23,505.00 Printing & Stationery Expenses 3,355.00 6,345.00 Fuel (Diesel) Expenses 51,500.00 36,250.00 Repairs & Maintenance 27,461.00 27,318.00 Refreshment 5,213.00 2,110.00

842,511.00 888,432.00 Schedule - T .Other ExpensesBank Charges 2,155.31 1,413.00 AGM & Members Activities Expenses 145,167.00 141,219.00 Professional Fees (TDS Filling) 7,483.00 3,600.00 Meeting Expenses 27,342.00 51,125.00 Insurance Expenses (Bike) 1,137.00 NILWebsite Expenses 47,000.00 22,000.00 Office Expenses 80,205.00 64,550.00

310,489.31 283,907.00 For A. K. Kejariwal & AssociatesChartered Accountants





Certified that the Cash Balance of Ranchi Branch of CIRC of ICAI at Branch as on 31.03.2017 is Rs.3600.00Certified that the Cheques in Hand of Ranchi Branch of CIRC of ICAI at Branch as on 31.03.2017 is Rs. 12500.00

1 S.B. Account No. 11981 with I.O.B. Ranchi 31.03.2017

Closing Bank Balance as per Bank Book Dr. 39,244.96 Add : Cheque issued but not presented for paymentCh. No.& Date Name of Party Amount(Rs)802696 dt. 20.03.2017 The Secretary, ICAI 20500.00802697 dt. 20.03.2017 Sikcha Banka 7000.00

27500.00 27,500.00

Closing Bank Balance as per Pass Book Cr. 66,744.96

2 S.B. Account No. 11916 with Corporation Bank, Ranchi 31.03.2017

Closing Bank Balance as per Bank Book Dr. 9,100.00 Add : Cheque issued but not presented for paymentCh. No.& Date Name of Party Amount(Rs)171625 dt. 25.02.2017 The Secretary, ICAI 52800.00171626 dt. 25.02.2017 The Secretary, ICAI 15000.00171635 dt. 20.03.2017 The Secretary, ICAI 10200.00

78000.00 78,000.00 Closing Bank Balance as per Pass Book Cr. 87,100.00

3 S.B. Account No. 11917 with Corporation Bank, Ranchi 31.03.2017

Closing Bank Balance as per Bank Book Dr. 96,479.00 Add : Cheque issued but not presented for paymentCh. No.& Date Name of Party Amount(Rs)150780 dt. 28.03.2017 B I S F 3700.00150782 dt. 29.03.2017 Shivam Travels 14200.00150781 dt. 29.09.2017 Rishi Jalan 22275.00150784 dt. 31.03.2017 Dimple Chawla 5000.00150785 dt. 31.03.2017 Maple Wood 36750.00150786 dt. 31.03.2017 Maple Wood 8769.00150787 dt. 31.03.2017 Anil Kr. Jain 25000.00

115694.00 115,694.00 Closing Bank Balance as per Pass Book Cr. 212,173.00

3 C.L.S.B. Account No. 150024 with Corporation Bank, Ranchi 31.03.2017 Closing Bank Balance as per Bank Book Dr. 386,617.00 Add : Cheque issued but not presented for paymentCh. No.& Date Name of Party Amount(Rs)957788 dt. 31.03.2017 The Secretary, ICAI 570528.00

570528.00Closing Bank Balance as per Pass Book Cr. 957,145.00

Bank Account Details Amount(Rs)CLSB - 50024 (CB) 386,617.00 SB Account No. 11981 (IOB) 39,244.96 SB Account No. 11916 (CB) 9,100.00 SB Account No. 11917(CB) 96,479.00

Total 531,440.96

BANK RECONCILIATION STATEMENT

CASH CERTIFICATE

DETAILS OF SAVING BANKS ACCOUNTS & BALANCES AS ON 31.03.2017

Total 531,440.96 The Balance of Rs. 531440.96 in Saving Bank Accounts relates to the following:(a) Earmarked Fund in Saving Bank Account Earmarked Investment - ITT NIL Earmarked Investment - Merit Awards 45,676.00

Total Earmarked 45,676.00 (b) General Account (Balance) 485,764.96

Total 531,440.96 For A. K. Kejariwal & AssociatesChartered Accountants




Certified that we have carried out physical verification of Fixed Assets of Ranchi Branch of CIRC of ICAIon 31.03.2017 and found the assets to be in accordance with the records.




a) Capital Grant received upto 01.04.2016 2,769,620.00 Add: Capital Grant received for during the period 162,450.00

2,932,070.00

b) Capital Grant utilised upto 31.03.2017 2,937,970.00

c) Capital Grant Receivable (Sanctioned for 2016-17) i) Recurring Capital 0.00ii) Recurring Library Grant 5,900.00 iii) Capital Items Purchased 0.00

5900.00




PHYSICAL VERIFICATION OF FIXED ASSETS


CAPITAL GRANT UTILISATION CERTIFICATE


Schedule "F''Schedule of Fixed Assets

Tangible AssetsLand 0 165,289.25 - - 165,289.25 - - - - 165,289.25 165,289.25

Building 5 5,506,616.00 - - 5,506,616.00 1,433,297.00 203,666.00 - 1,636,963.00 3,869,653.00 4,073,319.00

Lift 10 660,000.00 - 660,000.00 309,249.00 35,076.00 344,325.00 315,675.00 350,751.00

Furniture & Fixtures 10 2,379,219.00 26,904.00 - 2,406,123.00 1,097,105.00 129,653.00 - 1,226,758.00 1,179,365.00 1,282,114.00

Office Equipments 15 377,241.00 - 27,800.00 349,441.00 210,774.00 24,831.00 25,948.00 209,657.00 139,784.00 166,467.00

Air Conditioners 15 230,173.00 32,000.00 - 262,173.00 141,242.00 16,384.00 - 157,626.00 104,547.00 88,931.00

Electrical Installations 10 395,992.00 - 13,323.00 382,669.00 169,850.00 22,295.00 6,931.00 185,214.00 197,455.00 226,142.00

Computers 60 353,009.00 33,000.00 111,200.00 274,809.00 338,333.00 28,303.00 111,187.00 255,449.00 19,360.00 14,676.00

Library Books 100 158,477.00 5,900.00 - 164,377.00 158,477.00 5,900.00 - 164,377.00 - -

Plasma TV 15 55,000.00 - - 55,000.00 9,588.00 6,812.00 - 16,400.00 38,600.00 45,412.00

Motor Cycle & Cycle 20 44,155.00 - - 44,155.00 28,936.00 3,044.00 - 31,980.00 12,175.00 15,219.00 -

TOTAL 10,325,171.25 97,804.00 152,323.00 10,270,652.25 3,896,851.00 475,964.00 144,066.00 4,228,749.00 6,041,903.25 6,428,320.25 Previous year figures 10,249,338.25 75,833.00 - 10,325,171.25 3,390,245.00 506,606.00 - 3,896,851.00 6,428,320.25 6,859,093.25 Details of purchase of Fixed Assets Details of discarded of Fixed Assets

Particulars Date Amount Particulars Date AmountDep. Upto 30.09.2017

Loss on Discarded Assets

Air Conditioner 12.08.16 32000.00 Diss Antina 01.10.1998 26,000.00 24,597.00 1,403.00

Laptop - Lenovo 07.04.16 33000.00 Acer Lapto & Projector 01.05.2007 111,200.00 111,187.00 13.00

Chairs 17.09.16 26904.00 Water Filter - Pure -It 07.03.2000 1,800.00 1,351.00 449.00

Library - Books & Portal 24.11.16 5900.00 Wall Fans - 8 Nos. 12.03.2010 9,990.00 4,975.00 5,015.00




Particulars Additions during the year



Rate of Dep. % Cost As At

01.04.2016Cost As At 31.03.2017

Opening as on 01.04.2016 During the year Upto 31.03.2017 WDV as on

31.03.16

Net BlockGross Block

Adjustments/ Transfer/ Sale


Depreciation/ Amortisation

WDV as on 31.03.17

Date : 22.04.2017

Schedule "G''Schedule of Fixed Assets Information Technology Training Centre

Tangible AssetsFurniture & Fixtures 10 108,813.00 - 11,600.00 97,213.00 58,385.00 4,812.00 6,989.00 56,208.00 41,005.00 50,428.00

Office Equipments 15 112,762.00 33,300.00 78,210.00 67,852.00 67,839.00 5,534.00 52,120.00 21,253.00 46,599.00 44,923.00

Air Conditioners 15 120,964.00 - - 120,964.00 75,480.00 6,822.00 - 82,302.00 38,662.00 45,484.00

Electrical Installations 10 30,424.00 - - 30,424.00 13,849.00 1,658.00 - 15,507.00 14,917.00 16,575.00

Computers 60 945,145.00 - - 945,145.00 942,836.00 1,386.00 - 944,222.00 923.00 2,309.00

DG Set 15 338,857.00 - - 338,857.00 164,331.00 26,179.00 - 190,510.00 148,347.00 174,526.00 TOTAL 1,656,965.00 33,300.00 89,810.00 1,780,075.00 1,322,720.00 46,391.00 59,109.00 1,310,002.00 290,453.00 334,245.00

Previous year figures 1,737,565.00 - 80,600.00 1,656,965.00 1,301,917.00 46,255.00 55,148.00 1,403,320.00 334,245.00 435,648.00 Details of discarded of Fixed Assets

Details of purchase of Fixed Assets Particulars Qty Date AmountDep. Upto 30.09.2017

Loss on Discarded Assets

Particulars Date Amount Projector - Panasonic 1 29.02.2008 48,000.00 36,053.00 11,947.00 L.C. D. Projector 16.01.17 33300.00

Projector - BANQE 1 17.01.2012 30,210.00 16,067.00 14,143.00

Computer table - Chines Ply 8 19.12.2007 11,600.00 6,989.00 4,611.00 For A. K. Kejariwal & AssociatesChartered Accountants

(CA. Arun Kumar Kejariwal) (CA. Binod Kr. Pandey) (CA.Mahendar Kr. Jain) (CA. Ashish Kushwaha)Partner Chairman Secretary TreasurerMem. No. 075140FRN. 006370C


Upto 31.03.2017

WDV as on 31.03.16

Depreciation/ Amortisation

Cost As At 31.03.2017

Rate of Dep. % Cost As At

01.04.2016

Additions during the

year


WDV as on 31.03.17

Opening as on 01.04.2016



Gross Block


During the year

Particulars

Net Block


SCHEDULE – U SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS: I. ACCOUNTING POLICIES 1. METHOD OF ACCOUNTING:

a. The Financial Statements have been prepared under the historical cost convention in accordance with the

generally accepted accounting principles. These accounts have been prepared in accordance with the applicable Accounting Standards issued by the Institute of Chartered Accountants of India and are on accrual basis unless otherwise stated.

b. Capital Grant is accounted for on receipt basis.

2. ALLOCATION/ TRANSFER TO RESERVES & SURPLUS AND EARMARKED FUNDS

a. 15% of the total ITT course fee & Advance ITT Course Fees has been transferred to H.O.

b. 25% of participation fees per student of ITT & Advance ITT Training has been transferred to ITT Earmarked Fund.

c. Interest on Fixed Deposits has been transferred to respective funds.

3. FIXED ASSETS & DEPRECIATION:

a. Fixed Assets other than Land are stated at historical cost less depreciation. Land is stated at cost. b. Depreciation has been provided on W.D.V. method at the rates and in the manner prescribed by the ICAI

in its “Accounting Manual for Branches of Regional Councils”. c. Depreciation on Assets acquired during the year is provided on monthly pro-rata basis. However,

Library books are depreciated at the rate of 100% in the year of purchase.

4. INVENTORIES:

a. Stock of ICAI Publications is valued at ICAI Invoice Price.

II. NOTES ON ACCOUNTS:

1. TDS by Branch is being remitted within due date. TDS returns are being filed within due date. 2. No TDS was deducted by the Bank during the year as Exemption for TDS deduction on interest has been

granted to the HO. 3. Figures of previous year have been re-grouped/re-arranged/re-classified wherever necessary to make

them comparable with those of the Current year. 4. Interest Receivable on Fixed Deposit of Merit Award is transferred to Saving Bank Account on receipt

of the same.

5. Prior Period Items a. Rs. 200.00 (Rs. Two Hundred only) extra received against original budget submitted to Head Office b. Salary short paid for the month of October 2015 Rs. 1000.00 (Rs. One Thousand only) to Care taker

cum Peon has been charged in this financial year as Prior Period Item. c. Rs. 17,292.00 (Rs. Seventeen Thousand Two Hundred Ninety Two) paid to Ranchi Municipal

Corporation for Holding Tax for the Financial Year 2011-12 to 2015-16 d. Rs. 4,470.00 (Rs. Four Thousand Four Hundred Seventy) paid for Interest and levy on late payment

filing of TDS as per following detail: Sl. F.Y. Particulars Amount (Rs.) 01 2012-13 Late Filing Levy 3270.00 02 2013-14 Late Filing Levy & Interest on late

Payment 1200.00

e. Rs. 12,947.00 (Rs. Twelve Thousand Nine Hundred Forty Seven) written off from receivable against sponsorship and expenses of seminar. The details of amount written off is as under: SSJ Finance for 2012-13 – Rs. 9,000.00 Jamshedpur Branch of CIRC for 2013-14 – Rs. 3,947.00

6. Following fixed assets has disposed – off during the period: A – ITT Centre Fixed Asset Sl. Name of Fixed Assets Quantity Reason for dispose off 01 Projector – Panasonic 01 Not Functional, Old Model and required huge amount

for repairing 02 Projector – Banqe 01 Blasted and required huge amount for repairing 03 Table – (Computer) etc 10 Poor Condition(Chinese Items), Not usable in present

owned premises, B – Branch Fixed Assets 01 Office Table 02 Damage and rusted 02 Still Camera 01 Obsolete 03 Water Filter – Pure –it 01 Damage and obsolete 04 Centre Table 01 Damage 05 Ceiling fun 01 Very old and not usable in present owned premises 06 Wall fan –orient 08 Required huge amount for repairing 07 Projector – ACER 01 Very Old Model (2005), required huge amount for

repairing 08 Laptop - ACER 01 Outdated and not in functional 08 Dish Antina 01 Not usable for present owned premises

For, A. K. Kejariwal & Associates Chartered Accountants For Ranchi Branch of CIRC of ICAI

(CA. Arun Kumar Kejariwal) (CA. Binod Kr. Pandey) (CA. Mahendar Kr. Jain) (CA. Ashish Kushwaha) Partner Chairman Secretary Treasurer Mem. No. : 075140 FRN.: 006370C Place : Ranchi Date : 22.04.2017

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