ANNUAL REPORt - wirc-icai.org 20… · Mr. Girish Kurane, Deputy Registrar of Firms & Shri Vivek...

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

69th

ANNUAL REPORt

69th Annual Report 2019-20

The Western India Regional Council of The Institute of Chartered Accountants of India is pleased to present its 69th Annual Report for the period between 1st June, 2019 and 31st May, 2020 and the audited financial statements for the year ended on 31st March, 2020.

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

assumed office on 25th February, 2020. The list of members of the Regional Council and its office bearers is contained in Annexure “A”.

2. Formation of Committees of Regional Council and theirmeetings

The Regional Council constituted various committees as detailed in Annexure B. The details of members 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’.

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

at 1,04,808 including 3,653 members enrolled since last report.

4. ICAIAwards2019 to theWesternRegion

Sr. Category Award Region/Branch1 Region Best Region

– 1st PrizeWIRC of ICAI

2 Mega Branch 1st Prize Pune Branch of WIRC

3 Mega Branch 2nd Prize Ahmedabad Branch of WIRC

4 Large Branch 2nd Prize Vadodara Branch of WIRC

5 Medium Branch 2nd Prize Aurangabad Branch of WIRC

6 Small Branch 1st Prize Ahmednagar Branch of WIRC of ICAI

7 Small Branch 2nd Prize Jalgaon Branch of WIRC

Students’Association1 Region 1st Prize WICASA of WIRC2 Mega Branch 1st Prize Pune Branch of

WICASA

3 Mega Branch 2nd Prize Ahmedabad Branch of WICASA

4 Large Branch 1st Prize Nagpur Branch of WICASA

5 Large Branch 2nd Prize Thane Branch of WICASA

Sr. Category Award Region/Branch6 Medium Branch 1st Prize Aurangabad Branch

of WICASA7 Medium Branch 2nd Prize Vadodara Branch

of WICASA

8 Small Branch 1st Prize Ahmednagar Branch of WICASA

9 Small Branch 2nd Prize Jalgaon Branch of WICASA

10 Micro Branch 2nd Prize Pimpri Chinchwad Branch of WICASA

PoweredbyProfessionalismDrivenbyValues“Powered By Professionalism. Driven By Values” – is the theme of WIRC. These simple words carry with them a tremendous promise – our commitment to professionalism driven by integrity. In this perspective WIRC of ICAI has always been in the forefront in organizing conferences, seminars, workshop and webinars which are important tools for the propagation of relevant information and dissemination of knowledge.

ImportantMilestones, InitiativesandActivities:-WIRC had undertaken various initiatives and activities during the year 2019-20, which are chronicled below, some of which are milestones:-

5.1 InteractionwithGovernmentsandRegulators 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 and also held interactive meetings with:● Shri Manoj Kotak, Member of Parliament.● Mr. Girish Kurane, Deputy Registrar of Firms & Shri

Vivek Kamble, Asst. Registrar of Firms - ‘on’ Filing of Documents & Legal Issues in Partnership Firm.

● Shri D. C. Jain, Joint Director, CBI.● Dr. Ranjit Patil, Hon’ble Minister of Law, Maharashtra.● Shri Satish Gupta, Principal CCIT.● Smt. K. Kamakshi, CCIT-1.● Smt. Sungita Sharma, Pr. Chief Commissioner, CGST

& Central Excise Zone, Mumbai, Shri Ravinder Saroop, Pr. ADG NACIN Mumbai, Shri Vivekanand Rai, Jt Commissioner, CGST Navi Mumbai, Shri Deepak Kumar Mata, Asst. Dir. NACIN, Mumbai and Ms. Preeti Choudhary, ADC(P&V), CGST, Mumbai.

● Shri Manoj Bang, Registrar of Companies, Mumbai.● Mrs. Miskin, Dy. Commissioner State GST.● Shri Ravindra Sai, Principal, Commissioner of Income

Tax.

WesternIndiaRegionalCouncilofTheInstituteofCharteredAccountantsofIndia

69th ANNUAL REPORt 2019-20


5.2 Supporting Government initiatives through variousprogrammersonGST,RERA, Insolvency

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

WIRC of ICAI has launched online WIRC-GSTHelpdeskduring a very important & crucial time to support the members in solving their queries & doubts relating to GST. This innovative step, supported by latest digital technology was utilised & appreciated by members of our region as well as across the country.

5.4 SpreadingeducationviaSeminars,Conferences,WorkshopandLectureMeetings.

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.

5.5 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.

● Webinars:During the lockdown period WIRC of ICAI has started webinars to help members continuously upgrade & update themselves from the comfort of their homes, multiple webinars on various different topics have been scheduled for the benefit of members.

5.6 GrievanceRedressalMechanism WIRC of ICAI has three tier call centre mechanism, so that

members, Students and others stakeholders may get the right solution for their queries.

1. Help Desk for Students & members: During this lockdown period, WIRC of ICAI has created a helpdesk. (https://helpdesk.wirc.icai.org) where the queries can be posted by members & students and WIRC would channelize it to the concerned person for necessary action/response.

2. Help desk located at the reception level of WIRC. Those visiting may get immediate help. The helpdesk is manned by experienced officials.

3. WIRC of ICAI has a manned multi seat call centre so that calls can be received and issues may be resolved.

The call centre may be reached by dialling (022- 33671400/1500).

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

5. Regional Council Members support members and students to resolve their queries in a quick manner.

6. Reading room are located at following locations which assist the visitors:

1) ICAI Tower, BKC

2) ICAI Bhawan, Cuffe Parade Reading Room

3) Dadar Library & Reading Room

4) Rajasthani Vidyarthi Griha (RVG), Andheri

5) Mulund Library & Reading Room

6) Aykar Bhawan Reading Room

7) Pratyakshakar Bhavan, BKCs

8) Rajasthani Sammelan Library, Malad

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

organization. Hence, Branches are given support on a number of fronts ensuring that they all are able to serve members and student by providing cutting edge professional facilities and education.

5.8 SwachhBharatMission Swachhta Pakhwada - Swachha Bharat Abhiyan held on 30th

June, 2019 at ICAI Tower, BKC

5.9 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.

3 Rastriya Ekta Diwas (National Unity Day) - Pledge on 31st October, 2019 at 10 AM at ICAI Tower, BKC.

3 Constitution Day - “5th Constitution Day” - Pledge taking ceremony on 26th November, 2019 at 11 AM at ICAI Tower, BKC.

3 Contribution to Chief Minister’s Relief Fund, Maharashtra - WIRC have created the fund ‘ICAI Western Region Relief Fund’ for supporting the affected people.

3 Organ Donation Awareness held on 1st July, 2019.

3 Blood Donation Camp held on 1st July, 2019 at Metro Link Bridge, Ghatkopar Railway Station, Mumbai.

3 Tree Plantation held on 1st July, 2019 at ICAI Garden, ICAI Tower, BKC.

3 Blood Donation Camp held on 7th October, 2019 at Vidyavihar, Mumbai.

3 Blood Donation Camp held on 8th December, 2019 at Prabhadevi, Sion, Andheri & Vasai Students Hostel.

3 Felicitation of Physically Challenged Cricket Team of India – 2019 on 21st September, 2019.

3 Interactive Meeting with Padmashri Prof. G.D. Yadav.

3 Seminar on Corporate Social Responsibility held on 28th December, 2019 at Mumbai.

5.10 WomenEmpowerment1. National Women Conference held on 19th October, 2019

at Mumbai.

2. Residential Refresher Course for Women held on 15th & 16th February, 2020

3. Celebration of International Women Day held on 8th March, 2020

6. Initiative to improve theAdministration& Infrastructure:

6.1 BranchesofWIRC WIRC Branches spread across the region ensure that members

and students all over the region are given complete professional support.


6.2 StudyCircleandStudyChapterNetworkofWIRC: 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 fulfill their Continuing Professional Education requirements. During the year following study circle was formed

q Jay Coach Lane CPE Study Circle of WIRC of ICAI

7. Conferences /Conclaves1. 34thRegionalConferenceofWIRCofICAI: The 34th Regional Conference based around the theme

“AWAKE–AriseWithAimofKnowledgeEnrichment”, held on 9th & 10th August, 2019 at Yogi Sabhagruh, Dadar, Mumbai, was inaugurated by CA.FarokhN.Subedar,Vice Chairman of Tata Investment Corporation Ltd., Chairman Tata Services Ltd., Past President of Bombay Chamber of Commerce and Industry & Senior Advisor Tata Sons Ltd., as well as our Hon’ble President, ICAI, CA. Prafulla Chhajed and Hon’ble Vice President, ICAI, CA. Atul Kumar Gupta. This conference was attended by more than 1500 chartered accountant members.

2. SubRegionalConferencesofWIRCofICAI The WIRC of ICAI organized the Sub Regional Conferences in

the presence of Hon’ble Central Ministers, Hon’ble President, ICAI, CA. Prafulla Chhajed, Central Council Members, Regional Council Members and members from across the Country. The Sub Regional Conferences covered 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; these were explained by veterans of the profession who came from Mumbai, Gujarat & Goa.

Sub-RegionalConferenceatNashikinMaharashtra WIRC Sub Regional Conference for the state of Maharashtra,

was organized on 21st & 22nd June, 2019 at Nashik. Members attended in large numbers and appreciated the quality of coverage and the excellent speakers present at this conference.

SubRegionalConferenceatAhmedabadinGujarat WIRC Sub Regional Conference for the state of Gujarat, was

held on 27th & 28th December, 2019 at Ahmedabad. Chief Guest: Mr.SureshPatel, EX.MD & CEO Andhra Bank.

SubRegionalConferenceatGoa WIRC Sub Regional Conference for the state of Goa, was

organized on 8th & 9th November, 2019 at Goa. Chief Guest: Hon’bleShriShripadNaik, Union Minister of State for Ayush (Independent Charge) & Minister of State for Defence.

9. Steps taken byRegional Council for Implementation ofTask

9.1. RepresentationtoStateGovernment1. Representation on Request for reconsidering Amendment

made to Rule 19 of The Bombay Public Trusts Rules submitted to Honorable Minister, Law & Judiciary Department, Government of Maharashtra on 9th July, 2019.

2. Representation for Statutory Audit Report Template, submitted to Shri Shekhar Gaikwad, IAS Commissioner of Sugar, Maharashtra State, Shivajinagar, Pune on 14th August, 2019.

3. Representation in respect of procedure for Empanelment of Auditors, Auditors Appointment under Proviso to

Section 81 of the Maharashtra Cooperative Societies Act, 1960, audit related sections, audit reports, filing of FIR, improvement in overall systems, etc. submitted to The Commissioner, Cooperation and Registrar of Societies, Maharashtra State on 28th August, 2019.

4. Request for Extension of Time Limit prescribed under the RERDA Act 2016 for F.Y. 2018-19 Act submitted to Shri Gautam Chatterjee, Chairman, MahaRERA on 30th September, 2019.

5. Representation on MVAT Act - Extension of due date- time barring assessments of F.Y. 2015-16 submitted to Commissioner of State tax, GST Bhavan, Mazgaon on 18th March, 2020.

6. Representation on Request to extend the due date of filing returns under Maharashtra State Tax on Professions, Trades, Calling and Employments Act, 1975 (herein after referred to as Profession Tax Act) to Mr. Sanjeev Kumar (IAS),The Commissioner of State Tax on 23rd April, 2020.

7. Request for extension of various due dates prescribed under the Maharashtra Co-operative Societies Act, 1960 and Rules there under in respect of various compliances for the year 2019-20, due to COVID 19 crisis submitted to The Commissioner, Co-operation and Registrar of Societies, Maharashtra State on 23rd May, 2020

9.2 Suggestion toStateGovernment Suggestion – Pre Budget Memorandum submitted to Hon’ble

Minister of Finance, Government of Maharashtra towards Budgets of States (Within Region)

9.3 Activities 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

● Company Law Refresher Course

● Refresher Course for Auditors and Recent Changes in Audit Profession

● Intensive Study Course on Ind AS

● Indirect Taxes Refresher Course

● Study Course on MLI

3. Programs on Professional Opportunities in different industries:

● Banking

● Pharmaceutical

● Information Technology

● Financial Services

● Commercial and allied Laws

4. Residential/Non-Residential Refresher courses

5. Interactive meeting with Trade Bodies and Industry associations


9.4. StrengtheningEducation&otherServices toStudents

A) SeminarsandConferences forStudents1. NationalConferenceforCAStudents WIRC and WICASA hosted the biggest event of the

year – National Conference for CA Students held on 7th & 8th January, 2020 at Yogi Sabhagruha, Dadar (East), Mumbai. Chief Guest: Shri R. C. Sharma, Hon’ble Member ITAT.

The Conference witnessed an overwhelming registration of 1100+CA students. Various Technical sessions were planned for students in an innovative manner by making presentations based on case studies.

Students from different places in India and also from outside 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. SeminarsforCAStudents WIRC also organized various full day, half day seminars

and lecture meetings for students. These seminars were organized on topics like GST, Tally, Forensic Audit, Bank Branch Audit & Concurrent Audit, which are important to the students to sharpen their professional skills.

B) MockTests /CrashCourse1. CPTMOCKTest:WIRC conducted Mock test for the

CPT students across the Region on 2nd June, 2019. 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. MockTestsforIPCCandFinalStudents: In line with the initiative of ICAI, WIRC took lead in organizing mock test for IPCC and CA Final students. These tests were also conducted in various Branches of WIRC.

3. CAFoundationMockTests: WIRC conducted Mock test for the CPT students across the Region on 3rd & 4th October, 2019. This test was conducted on the same day at the same time throughout the Region

CrashCourse–● Various crash courses for CPT, IPCC and Final examinations

were conducted for both May and November Exam students.

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

C) Other Activities for Students Quiz and ElocutionCompetition–● Quiz and Elocution Competition was organized at

Mumbai and also at different branches. Quiz & Elocution Competition for Mumbai based Students was held on 13th July, 2019.

● Regional level competition was also organized in which 19 branches of WIRC participated. Regional Level Quiz & Elocution Competition held on 17th August, 2019 at ICAI Tower, BKC, Mumbai.

InstrumentalMusicCompetition–● Instrumental Music Competition for Mumbai based Students

was held on 14th July, 2019 & Regional Level was held on 18th August, 2019 at ICAI Tower, BKC, Mumbai.

EducationalTour& IndustryVisit – Educational tour & Industry visit were 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.

CareerCounsellingProgram–● CA Course is gaining its popularity all over the region.

● Organised Career Counselling & Guidance Seminars at various colleges in Mumbai and across the Region to guide students towards selecting a career in Chartered Accountancy. Various Career counselling programs were conducted by WIRC and WICASA along with its branches.

● Around 50000+ students participated in the career counselling programs organized across the region.

FelicitationFunctionofRankHolders&NewMembersMeet● To encourage newly qualified rank holders and members a

felicitation program was organised where Padmashri Prof. G. D. Yadav, CA. Sachin Patil, IRS, CA. Nimit Mehta, IPS & CA. Ninad Karpe guided them on the values in the profession and shared their success stories. Further, a panel discussion on professional opportunities in different areas was organised to guide the young CA Members.

GSTSessions● Organised GST sessions for Girl Students in various colleges in

Mumbai.

FacultyDevelopmentProgram:● Organised Faculty Development Program for Career Counselling

in various colleges in Mumbai and across the Western Region to promote Chartered Accountancy Course and Commerce Wizard amongst students. Also organized Faculty Development Program on GST jointly with Mumbai University.

D) HOSTEL1. Vasai Hostel: WIRC members meet the Students regularly to

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

E) LibraryandReadingRoomsList of Library/ Reference Libraries / Reading Rooms

Name&Address1 WIRCLibraryandReadingRoom

5th Floor, ICAI Tower, Plot No C-40,G-Block, Opp. MCA Ground, Near Standard Chartered Bank, Bandra Kurla Complex, Bandra (E), Mumbai -51

2 WIRCReadingRoomICAI Bhavan, 27, Cuffe Parade, Colaba, Mumbai – 400 005.

3 WIRCReferenceLibrary–cum-ReadingRoomThe Graduate Police Officers’ Residential Complex, Bullet Apartments, Lakhamsey Nappu Road, Hindu Colony, Dadar (E), Mumbai – 400 014.

4 WIRCReferenceLibrary–cum-ExtensionCounter–cum–readingRoomRajasthan Vidyarthi Griha (RVG), Lallubhai Swal Das Marg, Near Lallubhai Park, Off. S. V. Road, Andheri (W), Mumbai – 400 058.


Name&Address5 WIRCReferenceLibrary–cum-ReadingRoom

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

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

7 LibraryatBandra(Jointly with CITC / BCAS)

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

8 WIRCReadingRoomGhansyamdas 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

F) SportsandCulturalEvents1. Indoor Sports Meet: In the modern education system,

sports has been made an integral part of education to make students life interesting, tension free and enjoyable. They become disciplined all through their lives 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 mined 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 includes games like Carom, Chess, Snooker, Badminton and Table Tennis during the year.

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. 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.

3. Youth Fest – DekeTAR: WICASA organised Youth Fest for CA students DekeTAR held on 15th December, 2020. 200+ Students registered for the event. It was an amazing event comprising of various activities like Dance Performance, Open Mic, Fashion Show, Games, Singing, Open Stage Appeling, Stand-up Comedy – Renowned Personality, Live Band and Photobooth Competition followed by DJ Night. The event gave an opportunity to CA students to unleash their hidden talent.

H) SOCIALandotherACTIVITIES YogaDayCelebration–

● WICASA team celebrated Yoga Day at RVG Hostel and Vasai Hostel on 21st June, 2019. 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.3 Blood Donation Camp held on 1st July, 2019 at

Metro Link Bridge, Ghatkopar Railway Station, Mumbai.

3 Blood Donation Camp held on 7th October, 2019 at Vidyavihar, Mumbai.

3 Blood Donation Camp held on 8th December, 2019 at Prabhadevei, Sion, Andheri & Vasai Students Hostel

9.6. Positioning Institute & Profession for Role in NationBuilding1) Creating awareness in Society: During the year WIRC of

ICAI organised various Investor Awareness Program on.3 Commodity Price Risk Management and

Disclosures & Various schemes of Mutual Fund.3 Wealth Creation through Mutual Fund.3 Equity Market Outlook & Growth of Mutual Funds

in India.3 Capital Market: Current Trends3 Insights into Equity Markets.3 Stock Market Analysis.3 Key focus areas for investment & Valuation.3 Capital Market & Opportunities.3 Investment opportunities for Investors and Trading

Online - Do’s and Dont’s3 Panel Discussion on various schemes of Mutual

Fund.

2) GreatInvolvementofMembersinIndustryinIndustrySpecificProgrammes:

During the current year, WIRC organized various industry specific programmes for the benefit of the members, viz.:

3 Seminar on GST on Real Estate

3 Seminar on Guide to Investments and Wealth Planning

3 Seminar on Project Finance

3 Seminar on Auditing in SAP Environment

3 Seminar on NBFC

3 Seminar on Forensic Audit

3 Seminar on Capital Market

3 Seminar on Data Analytic & Block Chain

3 Conference on Start-ups – funding, Government Tax Incentives & Regulatory Aspects

3 Banking Conference

9.7 ResearchPublications: WIRC has been in forefront in doing research on subjects of

interest for members. In that direction following initiatives has were taken:

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

2. Formation of various study group: WIRC formed following Study Group


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

These study groups comprises of members in industry & members in practice and does thorough study on topic through interaction. These discussion summary are uploaded on WIRC website for members benefit.

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

● Publicationon“InsightintoCAROReporting”: This publication was released at the Company Law Refresher Course held on 29th June, 2019 at ICAI Tower, Bandra Kurla Complex, Mumbai.

● TheFinanceBill-2019-UnionBudget: Publication of the Union Budget 2019 was released by worthy hands of CA. Bansidhar S. Mehta, Past President - ICAI, at the lecture Meeting on The Finance Bill, 2019 held on 8th July, 2019.

● WIRCReferenceManual 2019-20: 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 from 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 Friday, 9th August, 2019 at 34th Regional Conference of WIRC of ICAI by the worthy hands of CA. Farokh N. Subedar, Vice Chairman of Tata Investment Corporation Ltd., Chairman Tata Services Ltd., Past President of Bombay Chamber of Commerce and Industry & Senior Advisor Tata Sons Ltd.

● Publication ‘E-GuideonSabkaVishwas (LegacyDisputeResolution)Scheme,2019’: This publication was released on 18th September, 2019 at the Lecture Meeting on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 by the worthy hands of Smt. Sungita Sharma, Pr. Chief Commissioner, CGST.

● Publication on “Illustrative IND AS FinancialStatements”:This publication was released by the worthy hands of Padmashri Prof. G. D. Yadav, CA. Sachin Patil, IPS and CA. Nimit Mehta, IRS on Saturday, 23rd November, 2019 at the Felicitation Function of Rank Holders and New Members Meet.

● TheFinanceBill-2020-UnionBudget: Publication of the Union Budget 2020 was released by worthy hands of CA. Prafulla Chhajed, President - ICAI, at the lecture Meeting on The Finance Bill, 2020 held on 4th February, 2020.

● Publicationon“ForensicAudit/TransactionAuditunderIBC: This publication was released by the worthy hands of CA. Prafulla Chhajed, President – ICAI, at the Regional Awards Distributing Ceremony held on 8th February, 2020

● Publicationone-HandbookonRoleofCharteredAccountancyFirms to ensure compliancewithSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,2015: This publication was released by the worthy hands of CA. Prafulla Chhajed, President – ICAI, at the Regional Awards Distributing Ceremony held on 8th February, 2020.

● PublicationonTallyforProfessionals:This publication was released by the worthy hands of CA. Atul Kumar Gupta, President – ICAI, at the Annual Dinner held on 24th February, 2020.

● Publicationon“StatutoryAuditofBankBranches–Compilationofpapers2020”: This publication was released in the month of March, 2020.

● E-publication on Anthology on KAM & otherReportinginAuditReports(SA701,705,706): This digest comprises over 1200+ audit reporting across audit reports of listed companies covering 28 different industries. The digest shall help our members as well as finance professionals find various Key Audit Matters and reporting at one location. This digest was released by President & Vice President, ICAI.

● E-PublicationonGuidetoWorkingFromHomeforeveryprofessional- During this lockdown period WIRC of ICAI has published this E-publication.

● E-PublicationonDisclosuresrelatingtoCOVID-19Compilation from resultsof listedCompanies - During lockdown period WIRC of ICAI has published this E-publication.

11. Certificatecoursesconductedby ICAIandhostedbyWIRC WIRC hosted the following certificate courses conducted by ICAI

at Mumbai.

3 Diploma in International Taxation

3 Certificate Course n Anti-Money Laundering Laws

3 Certificate Course on IND AS

3 GST Certificate Course

3 Certificate Course on ADR (Arbitration, Mediation & Conciliation)

3 Certificate Course on IND AS

12. ContinuingProfessionalEducationalProgrammes● During the period more than 1000 programmes

were organized in which over 3500 CPE hours were generated. 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.

● Organised several intensive courses on Direct & Indirect Taxes, 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.

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

circles meet regularly to discuss subjects of professional interest.

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

3) During the year WIRC of ICAI held various meeting with Study Circles Convenors & Dy. Convenors.

14. 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. WIRC Award to Branches of WIRC

MegaBranchCategory

Pune Branch First Prize

Ahmedabad Branch Second Prize

LargeBranchCategory

Thane Branch First Prize

Vasai Branch Second Prize

MediumBranchCategory

Pimpri Chinchwad Branch First Prize

Vadodara Branch First Prize

Nashik Branch Second Prize

Nagpur Branch Second Prize

SmallBranchCategory

Aurangabad Branch First Prize

Goa Branch Second Prize

MiniBranchCategory

Ahmednagar Branch First Prize

Jalgaon Branch First Prize

Akola Branch Second Prize

Gandhidham Branch Second Prize

Amravati Branch Highly Commandable

MicroBranchCategory

Sangli Branch First Prize

Bharuch Branch Second Prize

Satara Branch Second Prize

q WIRCAWARDSTOWICASAOFWIRCMegaBranchCategoryPune Branch First Prize

Ahmedabad Branch Second Prize

LargeBranchCategoryNagpur Branch First Prize

Thane Branch First Prize

Vasai Branch Second Prize

MediumBranchCategoryVadodara Branch First Prize

Nashik Branch Second Prize

Aurangabad Branch Second Prize

Rajkot Branch Highly Commandable

SmallBranchCategoryAhmednagar Branch First Prize

Jalgaon Branch Second Prize

Akola Branch Highly Commandable

MicroBranchCategoryPimpri Chinchwad Branch First Prize

15. Reporting&Administration15.1 ContributionofWIRCtoExposureDraftissuedbyICAI

3 Comments on Exposure Draft on Deferred Tax related to Assets and Liabilities arising from a Single Transaction Proposed amendments to IAS 12 submitted on 30th September, 2019

3 Comments on Exposure Draft on Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2) submitted on 10th October, 2019

3 Comments on Exposure Draft of the Accounting Standards for Local Bodies (ASLBs) 13, ‘Leases’ submitted on 30th October, 2019

3 Comments on Exposure Draft of Interest Rate Benchmark Reform (Amendments to Ind AS 109 and Ind AS 107) submitted on 8th November, 2019

3 Comments on Exposure Draft of the Accounting Standards for Local Bodies (ASLBs) 42, ‘Social Benefits’ submitted on 21st November, 2019

3 Comments on Exposure Draft of the Accounting Standards for Local Bodies (ASLBs) 39, ‘Employee Benefits’ submitted on 26th November, 2019

3 Comments on Revision of Part – B of Code of Ethics, 2019 submitted on 21st December, 2019


3 Comments on Exposure Draft of Guidance Note on the Companies (Auditor’s Report) Order, 2020 submitted on 20th March, 2020

3 Comments on Draft Companies (Corporate Social Responsibility Policy) Amendment Rules 2020 submitted on 28th March, 2020

3 Comments on Exposure Drafts of Standards on Internal Audit submitted on 30th March, 2020

15.2 Suggestions /RepresentationgivenbyWIRCtovariouscommitteesofICAI.3 Representation on Issues & suggestions for Form GSTR-

9 submitted to Indirect Taxes Committee of ICAI on 20th June, 2019

3 Request for Extension of Due Date for Filing of GST Annual Return & Reconciliation statement (form GSTR-9, 9A and 9C) for F.Y. 2017-18 submitted to GST & Indirect Taxes Committee of ICAI on 17th August, 2019

3 Post Budget Suggestions on Union Budget 2020 submitted to Direct Taxes Committee of ICAI on 17th March, 2020

3 Suggestions/Comments on MCA Consultation Paper to enhance Audit Independence and Accountability submitted to Secretary, ICAI on 18th March, 2020

3 Extension of due date for filing GST Returns submitted to Indirect Taxes Committee of ICAI on 18th March, 2020

3 Suggestion for GST related relief due to Corona Lock Down submitted to Indirect Taxes Committee of ICAI on 30th March, 2020

3 Suggestions under Direct Tax Laws submitted to Direct Taxes committee of ICAI on 31st March, 2020

3 WIRC E-Publication on KAM and other reporting in Audit Reports submitted to AASB, ICAI on 1st April, 2020

3 Representation to CBDT in respect of Direct tax matters submitted to Direct Taxes Committee of ICAI on 23rd April, 2020

3 Representation on simplification of GST submitted to Indirect Taxes Committee of ICAI on 28th April, 2020

15.3 RegularreportingandinteractionwiththePresident,VicePresidentandCentralCouncilMembers.

16 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 till March, 2020, after which the corona lockdown began and WIRC discontinued physical newsletters.

17 Western IndiaCharteredAccountantsEducationalTrust During the year, (i.e. w.e.f. 25th February, 2020), CA. Lalit Bajaj,

Chairman-WIRC, CA. Murtuza Kachwala, Secretary-WIRC, and CA. Anand Jakhotiya, 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.

18 Mayor’sFund CA. Lalit Bajaj, Chairman of WIRC was nominated as ex-officio

treasurer of the Mayor’s Fund, Mumbai, with effect from 25th February, 2020.

19 FelicitationofPresident andVicePresidentof ICAI President and Vice President were felicitated on 12th March,

2020 at ICAI Tower, BKC, Mumbai. This function was attended by galaxy of Central Council Members of our Institute and Regional Council Members of our Region.

20 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-Ordinator ’s 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 their 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 and various other publications of WIRC.

● The Press and Media for their support.

● All the officers and staff members of WIRC and Mumbai Decentralized Office of the Institute for their continued dedicated efforts and hard work throughout the year.

Sd/-

CA.LalitBajaj Chairman

Sd/-

CA.VishalP.Doshi Vice-Chairman

Sd/-

CA.MurtuzaKachwala Secretary

Sd/-

CA.AnandJakhotiya Treasurer

Place: Mumbai

Date: 31st May, 2020.


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 P.

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 Ramprasad

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

CA Chitale Chandrashekhar Vasant

CA Ghia Tarun Jamnadas

CA Hegde Nandkishore Chidamber

CA Jambusaria Nihar Niranjan Vice-President, ICAI

CA Joshi Shriniwas Yeshwant

CA Kabra Durgesh Kumar

CA Khandelwal Dheeraj Kumar

CA Talati Aniket Sunil

OFFICEBEARERS-2020-21

CA.BajajLalitLaxminarayan Chairman

CA.DoshiVishalP. Vice-Chairman

CA.KachwalaMurtuzaOnali Secretary

CA.JakhotiyaAnandRameshchandra Treasurer


AnnexureB—StandingCommittees

CAREER COUNSELLING CPE EXECUTIVE PUBLIC RELATIONS

STUDENT PROFESSIONAL DEVELOPMENT

Chairman CA. Anand Jakhotiya CA. Abhijit Kelkar CA. Lalit Bajaj CA. Balkishan Agarwal CA. Vimal Agrawal CA. Manish Gadia

ViceChairman CA. Arpit Kabra CA. Balkishan Agarwal CA. Murtuza Kachwala CA. Jayesh Kala CA. Hitesh Pomal CA. Priti Savla

OfficeBearers CA. Lalit Bajaj CA. Murtuza Kachwala

CA. Vishal P. Doshi CA. Anand Jakhotiya


CA. Lalit Bajaj CA. Vishal P. Doshi

CA. Murtuza Kachwala CA. Anand Jakhotiya

CA. Lalit Bajaj CA. Murtuza Kachwala

RCM CA. Hitesh PomalCA. Jayesh KalaCA. Kamlesh SabooCA. Manish Gadia

CA. Chintan Patel CA. Drushti Desai CA. Priti Savla CA. Sushrut Chitale

CA. Drushti Desai CA. Jayesh Kala CA. Manish Gadia CA. Priti Savla

CA. Abhijit Kelkar CA. Arun Anandagiri CA. Hitesh Pomal CA. Manish Gadia

CA. Arpit Kabra CA. Jayesh Kala CA. Shilpa Shinagare CA. Vikash Jain

CA. Drushti Desai CA. Kamlesh Saboo CA. Rakesh Alshi CA. Sushrut Chitale

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

Non-StandingCommitteesBANKING, FINANCIAL

SERVICES AND INSURANCEBRANCH CO-ORDINATION CAPITAL MARKET

& INVESTORS’ PROTECTION

COMMITTEE FOR MEMBERS IN INDUSTRY &

BUSINESS & PUBLIC SERVICE

COMMITTEE FOR MEMBERS IN PRACTICE

Chairman CA. Hitesh Pomal CA. Vishal P. Doshi CA. Jayesh Kala CA. Drushti Desai CA. Drushti Desai

ViceChairman CA. Jayesh Kala CA. Anand Jakhotiya CA. Kamlesh Saboo CA. Arpit Kabra CA. Umesh Sharma

OfficeBearers CA. Lalit Bajaj CA. Anand Jakhotiya


CA. Lalit Bajaj CA. Anand Jakhotiya



RCM CA. Abhijit Kelkar CA. Arun Anandagiri CA. Shilpa Shinagare CA. Vikash Jain

CA. Arun Anandagiri CA. Umesh Sharma CA. Vikash Jain CA. Yashwant Kasar

CA. Abhijit Kelkar CA. Drushti Desai CA. Manish Gadia CA. Yashwant Kasar

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

CA. Abhijit Kelkar CA. Arpit Kabra CA. Jayesh Kala CA. Manish Gadia

CCM(Ex-officio) CA. Aniket Talati CA. C. V. Chitale CA. Anil Bhandari CA. Anil Bhandari CA. Prafulla Chhajed

COMMITTEE ON ECONOMIC,

COMMERCIAL LAWS AND ECONOMIC ADVISORY

COMMITTEE ON PUBLIC AND GOVERNMENT

FINANCIAL MANAGEMENT

CO-OPERATIVE SOCIETIES

CORPORATE LAWS & CORPORATE GOVERNANCE

CSR

Chairman CA. Anand Jakhotiya CA. Shilpa Shinagare CA. Yashwant Kasar CA. Priti Savla CA. Umesh Sharma

ViceChairman CA. Shilpa Shinagare CA. Rakesh Alshi CA. Shilpa Shinagare CA. Vishal P. Doshi CA. Anand Jakhotiya

OfficeBearers CA. Lalit Bajaj CA. Vishal P. Doshi




CA. Vishal P. Doshi CA. Murtuza Kachwala

RCM CA. Balkishan Agarwal CA. Hitesh Pomal CA. Manish Gadia CA. Sushrut Chitale

CA. Balkishan Agarwal CA. Umesh Sharma CA. Vimal Agrawal CA. Yashwant Kasar

CA. Arpit Kabra CA. Balkishan Agarwal CA. Chintan Patel CA. Umesh Sharma

CA. Chintan Patel CA. Drushti Desai CA. Hitesh Pomal CA. Sushrut Chitale

CA. Drushti Desai CA. Kamlesh Saboo CA. Priti Savla CA. Vimal Agrawal

CCM(Ex-officio) CA. Tarun Ghia CA. Dhiraj Khandelwal CA. C. V. Chitale CA. C. V. Chitale CA. Dhiraj Khandelwal


DIGITAL ACCOUNTING & ASSURANCE

DIRECT TAXES EDITORIAL ETHICAL STANDARDS EXPOSURE DRAFT

Chairman CA. Arpit Kabra CA. Jayesh Kala CA. Lalit Bajaj CA. Umesh Sharma CA. Sushrut Chitale

ViceChairman CA. Yashwant Kasar CA. Rakesh Alshi CA. Murtuza Kachwala CA. Arun Anandgiri CA. Chintan Patel

OfficeBearers CA. Vishal P. Doshi CA. Murtuza Kachwala





RCM CA. Abhijit Kelkar CA. Chintan Patel CA. Priti Savla CA. Umesh Sharma

CA. Arun Anandagiri CA. Balkishan Agarwal CA. Priti Savla CA. Shilpa Shinagare

CA. Drushti Desai CA. Jayesh Kala CA. Manish Gadia CA. Priti Savla

CA. Abhijit Kelkar CA. Kamlesh Saboo CA. Priti Savla CA. Sushrut Chitale

CA. Chintan Patel CA. Drushti Desai CA. Hitesh Pomal CA. Umesh Sharma

CCM(Ex-officio) CA. Anil Bhandari CA. Tarun Ghia CA. Nihar Jambusaria CA. N. C. Hegde CA. Shriniwas Joshi

GMCS CO-ORDINATION GRIEVANCE COMMITTEE GST & INDIRECT TAXES HOSTEL IND-AS, ACCOUNTING STANDARD & IFRS

Chairman CA. Arpit Kabra CA. Shilpa Shinagare CA. Arun Anandgiri CA. Anand Jakhotiya CA. Vishal P. Doshi

ViceChairman CA. Hitesh Pomal CA. Sushrut Chitale CA. Umesh Sharma CA. Abhijit Kelkar CA. Sushrut Chitale

OfficeBearers CA. Lalit Bajaj CA. Murtuza Kachwala





RCM CA. Drushti Desai CA. Hitesh Pomal CA. Manish Gadia CA. Vimal Agrawal

CA. Arpit Kabra CA. Balkishan Agarwal CA. Vikash Jain CA. Yashwant Kasar

CA. Jayesh Kala CA. Kamlesh Saboo CA. Manish Gadia CA. Yashwant Kasar

CA. Jayesh Kala CA. Manish Gadia CA. Priti Savla CA. Vimal Agrawal

CA. Chintan Patel CA. Drushti Desai CA. Hitesh Pomal CA. Priti Savla

CCM(Ex-officio) CA. Jay Chhaira CA. Dhiraj Khandelwal CA. Shriniwas Joshi CA. Durgesh Kabra CA. Shriniwas Joshi

INSOLVENCY & BANKRUPTCY

INTERNAL AUDIT INTERNATIONAL TAXATION

LIBRARY MANAGEMENT ACCOUNTING

Chairman CA. Vikash Jain CA. Murtuza Kachwala CA. Rakesh Alshi CA. Yashwant Kasar CA. Chintan Patel

ViceChairman CA. Vimal Agrawal CA. Arun Anandagiri CA. Manish Gadia CA. Manish Gadia CA. Vimal Agrawal

OfficeBearers CA. Lalit Bajaj CA. Anand Jakhotiya




CA. Murtuza Kachwala CA. Anand Jakhotiya

RCM CA. Arun Anandagiri CA. Balkishan Agarwal CA. Chintan Patel CA. Priti Savla

CA. Chintan Patel CA. Priti Savla CA. Sushrut Chitale CA. Umesh Sharma

CA. Arun Anandagiri CA. Drushti Desai CA. Jayesh Kala CA. Priti Savla

CA. Abhijit Kelkar CA. Balkishan Agarwal CA. Jayesh Kala CA. Priti Savla

CA. Abhijit Kelkar CA. Arpit Kabra CA. Balkishan Agarwal CA. Shilpa Shinagare

CCM(Ex-officio) CA. Anil Bhandari CA. Shriniwas Joshi CA. N. C. Hegde CA. Durgesh Kabra CA. Tarun Ghia

RESEARCH STUDY CIRCLE CO-ORDINATION

VALUATION WICASA WOMEN MEMBERS EMPOWERMENT

Chairman CA. Kamlesh Saboo CA. Manish Gadia CA. Sushrut Chitale CA. Hitesh Pomal CA. Priti Savla

ViceChairman CA. Vishal P. Doshi CA. Priti Savla CA. Drushti Desai CA. Drushti Desai

OfficeBearers CA. Murtuza Kachwala CA. Anand Jakhotiya




RCM CA. Drushti Desai CA. Rakesh Alshi CA. Shilpa Shinagare CA. Sushrut Chitale

CA. Arpit Kabra CA. Hitesh Pomal CA. Rakesh Alshi CA. Yashwant Kasar

CA. Chintan Patel CA. Priti Savla CA. Rakesh Alshi CA. Umesh Sharma

CA. Arpit Kabra CA. Jayesh Kala

CA. Arpit Kabra CA. Manish Gadia CA. Rakesh Alshi CA. Shilpa Shinagare

CCM(Ex-officio) CA. Tarun Ghia CA. Nihar Jambusaria CA. Dhiraj Khandelwal CA. Prafulla Chhajed


AnnexureC—OfficeBearers&Ex-OfficioMembersofWIRCBranches(2019-20)

Sr.No.

NameoftheBranch

Chairman/Chairperson Vice-Chairman Secretary Treasurer BranchNominees

1 AhmedabadBranch

CA. Fenil Rajendra Shah CA. Harit Ashok Dhariwal CA. Bishan Rameshchandra Shah

CA. Rahul Kalulal Maliwal CA. Hitesh Pomal CA. Chintan Patel CA. Vikash Jain

2 AhmednagarBranch

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

3 AkolaBranch CA. Jalaj Rameshchandra Baheti

CA. Keyur Shantilal Dedhia CA. Deepak Prakashchandra Agrawal

CA. Keyur Shantilal Dedhia CA. Jayesh Kala

4 AmravatiBranch CA Vipul R. Patel CA. Sunil D. Salampuria CA.Pawan M. Jajoo CA.Damodar D.Khandelwal CA. Arpit Kabra

5 AnandBranch CA Bhavesh Thakkar CA Hardik Patel CA Hiral Prajapati CA Sanat Soni CA. Vishal P. Doshi

6 AurangabadBranch

CA Ganesh Suresh Shilwant

CA Pankaj Chandrakumar Soni

CA Rupali Abhjeet Bothara CA Ganesh Prakash Bhalerao

CA. Umesh Sharma

7 VadodaraBranch CA. Krunal Brahmbhatt CA. Vinod Pahilwani CA. Manoj Sahu CA. Rikin Patel CA. Vishal P. Doshi

8 BharuchBranch CA Harshit B Shah CA Rushi Gandhi CA Akshar Mehta CA Pinal P Modi CA. Manish Gadia

9 BhavnagarBranch CA. Manojkumar Parshottambhai Gohil

CA. Adhish R Rokadia CA. Jayesh K. Shah CA. Meet P. Parekh CA. Drushti Desai

10 BhujBranch CA. Jitendra Thacker CA. Ramesh Pindolia CA. Ashish Gadhvi CA. Purvi Doshi CA. Rakesh Alshi

11 DhuleBranch CA Nilesh G. Agrawal CA Avinash Ghundiyal CA Avinash Ghundiyal CA Rachendra L. Mundada CA. Manish Gadia

12 GandhidhamBranch

CA Karan Thacker CA Jainish Patel CA Sanjay Chotara CA Chandni Tolani CA. Priti Savla

13 GoaBranch CA. Varsha Deshpande CA. Pradip Kakodkar CA. Thomas Andrade CA. Dattaram Vengurlekar CA. Sushrut Chitale

14 IchalkaranjiBranch CA Vijay Dudharkar CA Nitin Ladha CA Mukesh Malani CA Shahenshaha Mujawar CA. Manish Gadia

15 JalgaonBranch CA Sagar Patni CA Prashant Agrawal CA Viki Birla CA Saurabh Subhash Lodha CA. Jayesh Kala

16 JamnagarBranch CA. Dipesh Lalitchandra Bhoot

CA. Dhaval Kamleshkumar Shah

CA. Sanjeev Chamanlal Buddh

CA. Karan Kirit Joshi CA. Drushti Desai


Sr.No.

NameoftheBranch

Chairman/Chairperson Vice-Chairman Secretary Treasurer BranchNominees

17 KalyanDombivliBranch

CA Ankit Agarwal CA Jeetu Ramrakhiyani CA Mayur Jain CA Parag Prabhudesai CA. Murtuza Kachwala

18 KolhapurBranch CA. Anil Rajaram Chikodi CA. Tushar Ganesh Anturkar CA. Sushant Sunil Gundale CA. Chetan Vijaykumar Oswal

CA. Umesh Sharma

19 LaturBranch CA. Rajesh Brijkishor Agrawal

CA. Vishal Narsing Chavan CA. Dwarkadas Ramanuj CA. Vishal Narsing Chavan CA. Arpit Kabra

20 NagpurBranch CA. Kirit Kalyani CA. Saket Bagdia CA. Jitendra Saglani CA. Sanjay M. Agrawal CA. Abhijit Kelkar

21 NandedBranch CA Anand Kabra CA Tousif Ahmed CA Tousif Ahmed CA Vijay Wattamwar CA. Arpit Kabra

22 NashikBranch CA Rohan Vasant Andhale CA Rajendra Vishram Shete CA Sohil Paresh Shah CA Rakeshkumar Himmatsing Pardeshi

CA. Anand Jakhotiya

23 NaviMumbaiBranch

CA Santosh Sharma CA Sanjay Bhujbal CA Harshel Kailash Ajmera CA Srinivas Venkataraman CA. Priti Savla

24 NavsariBranch CA Jarviz N. Suratwala CA. Suhail H. Memon CA. Amit A.Mehta CA. Yatin N. Patel CA. Vikash Jain

25 PimpriChinchwadBranch

CA Simran Kamlesh Lilwani CA.Chandrakant Bajirao Kale CA.Vijaykumar Jagannath Bamne

CA. Shailesh Ninaji Bore CA. Arun Anandgiri

26 PuneBranch CA. Dhamne Abhishek Shashikant

CA. Ladda Sameer Purshottam

CA. Pathare Kashinath Balasaheb

CA. Pathare Kashinath Balasaheb

CA. Anand Jakhotiya CA. Arun Anandgiri CA. Yashwant Kasar

27 RajkotBranch CA. Vinay Sakariya CA. Hardik Vyas CA. Jignesh Rathod CA. Bhavin Doshi CA. Hitesh Pomal

28 RatnagiriBranch CA. Bipin Rasiklal Shaha CA. Anand Manohar Pandit CA. Prasad Sunil Acharekar CA. Shashikant Sadashiv Kale

CA. Shilpa Shinagare

29 SangliBranch CA. Rajesh Chandrakant Bhate

CA. Mahesh Vitthal Thanedar

CA. Umeshkumar Madhukar Mali

CA. Shreyas Suhas Shah CA. Balkishan Agarwal

30 SataraBranch CA Anand Kasat CA Atul Doshi CA Ninad Shaha CA Jivan Jagtap CA. Yashwant Kasar

31 SolapurBranch CA.Prabhakar V.Gunjal CA. Nilasha D. Nogaja CA Anand A. Peshwe CA. Nilasha D. Nogaja CA. Rakesh Alshi

32 SuratBranch CA. Ishwar Jivani CA. Naveen Jain CA. Pooja Murarka CA. Rahul Agarwal CA. Balkishan Agarwal

33 ThaneBranch CA. Thakurdesai Suren Shrikrishna

CA. Assawa Shiw Bhagwan CA. Kolte Swapnil Suresh CA. Sharma Rajanish Satyanarayan

CA. Kamlesh Saboo

34 VapiBranch CA Shyam Sundar Purohit CA Vinayak Bafana CA Kiran Shah CA Vinayak Bafana CA. Murtuza Kachwala

35 VasaiBranch CA. Ankit Rathi CA. Abhishek Tiwari CA. Vijendra Jain CA. Lokesh Kothari CA. Vimal Agarwal


To,

TheCounciloftheInstituteofCharteredAccountantsofIndia,The Institute of Chartered Accountants of India Reporton theAuditofFinancialStatementsOpinionWe have audited the accompanying financial statements of Western IndiaRegionalCouncil (‘WIRC’)of the InstituteofCharteredAccountantsofIndia(‘ICAI’) a region of the Institute of Chartered Accountants of India (“the Institute”), which comprise the Balance Sheet as at March 31, 2020, the Statement of Income and Expenditure and a summary of significant accounting policies 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, 2020 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 InstituteofCharteredAccountantsofIndia(‘ICAI’) a region of the Institute as at March 31, 2020, 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’)of the InstituteofCharteredAccountantsof India(‘ICAI’) a region 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 verified Provision for gratuity and leave encashment liability, advance against 7th Pay Commission, provision for Income Tax/obligations arising due to 26AS of Income Tax Website, Payroll, reasonableness and correctness of apportionment of Common credit towards ITC allowable done up to March, 2020 along with other direct taxes as applicable, if any, is to be dealt at Head Office/ Decentralized Office.Our opinion is not modified in respect of the above matters.ReportonOtherRegulatoryRequirementsFurther,wereportthat: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 Accountant Act, 1949 have been kept by the Western IndiaRegionalCouncil (‘WIRC’)of the InstituteofCharteredAccountantsofIndia(‘ICAI’) a region 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 UDIN:20133178AAAAEO1166

Sd/- SacchinGhadialli Partner Membership Number: 133178

Place: Mumbai Date: 18th May, 2020

INDEPENDENTAUDITOR’SREPORT


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

For WIRCofICAI

Sd/- CA.LalitBajajChairman

Sd/- CA.VishalP.DoshiVice-Chairman

Sd/- SacchinGhadialliPartnerUDIN: 20133178AAAAEO1166 Membership No. 133178

Sd/- CA.MurtuzaKachwalaSecretary

Sd/- CA.AnandJakhotiyaTreasurer

Date: 18th May, 2020Place: Mumbai

Sd/- CA.AmitaKavleAssistant Secretary

Sd/- ShriRaviAroraJoint Director

WESTERN INDIA REGIONAL COUNCIL THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

BALANCE SHEET AS ON 31.03.2020

As at 31-Mar-2020 As at 31-Mar-2019

Sources of Funds:

Capital Account - 11 9,01,12,535 8,83,10,766

Reserves & Surplus-1101 9,01,12,535 9,15,76,169

Earmarked Funds - 110102 2,44,30,298 2,26,28,529

Reserves - 110101 6,56,82,237 6,89,47,640

Loans (Liability)

Current Liabilities-12 38,94,480 79,60,285

Duties & Taxes - 1201 1,70,394 (46,91,433)

Direct Tax - 120101 1,70,394 2,58,189

Indirect Tax - 120102 (49,49,622)

Sundry Creditors - 1203 (16,83,264) 37,06,706

Expenses Payable- Council members-120302

27,855

Expenses Payable-Parties - 120303

(4,71,119) 49,46,706

Expenses Payable-Staff - 120301

(12,40,000) (12,40,000)

Other Liabilites - 1205 31,84,538 89,45,011

Deposits - 120501 21,81,675 22,40,675

Other Payable - 120502 10,02,863 67,04,336

Provisions - 1206 22,22,812

Provisions for Expenses - 120601

22,22,812

Branch / Divisions - 13 1,98,77,184 4,89,53,033

Branch/Division Transfer - 1301 6,93,324

91,32,670

Publication Current A/c - 130101 6,93,324 91,32,670

Inter Head Balances- BS-61 1,91,83,860 3,98,20,363

Capital Grant - 610102 2,41,39,105 2,25,89,279

Current Account - 610117 (1,07,03,443) 1,18,53,508

Library Grant - 610103 57,48,198 53,77,576

Suspense A/c -14

Excess of expenditure over expenditure

2,57,00,777

Opening Balance

Current Period 2,57,00,777 (1,47,87,093)

Less: Transferred 1,47,87,093

Total 13,95,84,976 14,52,24,083

Application of Funds:

Fixed Assets - 21 65,09,209 57,28,552

Intangible Assets-2102 78,051 69,165

As at 31-Mar-2020 As at 31-Mar-2019

Software & Others-210201 78,051 69,165

Tangible Assets-2101 64,31,159 56,59,387

Airconditioner-210103 13,20,829 15,43,700

Computer-210109 4,51,121 33,631

Electrical Installation & Fittings-210102

26,484 29,345

Furniture & Fixures-210104 31,51,797 29,57,136

Office Equipment-210106 14,80,929 10,95,575

Investments-22 12,53,32,054 11,98,94,253

General Investment-2201 12,53,32,054 11,98,94,253

General Investment-FD with Bank-220101

12,53,32,054 11,98,94,253

Current Assets-23 77,43,713 1,96,01,278

Deposits (Asset)-2301 8,01,910 6,76,665

Security Deposit-230101 8,01,910 6,76,665

Loans & Advances (Asset)-2302 7,96,061 11,04,865

Other Advances-230203 7,41,500 3,12,624

Prepaid Expenses-230202 54,561 7,92,241

Sundry Debtors-2303 3,35,747 (88,200)

Receivables-230301 3,35,747 (88,200)

Cash-in-hand-2304 7,424 18,475

Cash-230401 7,424 18,475

Bank Accounts-2305 55,53,990 85,27,789

Bank - Main Account-230501 55,53,990 85,27,789

Other Assets-2306 (4,01,850) 4,23,016

Other Receivable-230603 (15,38,831) 11,308

TDS Receivable-230606 11,36,981 4,11,708

Publication Stock-2307 6,50,430 89,38,667

Stock-230701 6,50,430 89,38,667

Total 13,95,84,976 14,52,24,083

The accompanying notes are an integral part of the Financial Statements

As per our report of even date


WESTERN INDIA REGIONAL COUNCIL THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

INCOME & EXPENDITURE STATEMENT FOR THE YEAR ENDED 31.03.2020

Particulars 1-4-2019 to 31-3-2020 1-4-2018 to 31-3-2019

Sales Accounts-31 28,13,039 22,30,610

Publication Sales-3101 28,13,039 22,30,610

Publication Income-310101 28,13,039 22,30,610

Direct Incomes-32 6,96,04,270 8,46,51,156

Fees Received-3201 3,13,38,400 4,51,75,322

Class Room Training Income-320104 3,13,38,400 4,51,75,322

Income Support Services-3204 64,23,694 99,68,372

Income Support Services-320401 53,91,598 97,84,446

Income Support Services-Exempt-320402

10,32,096 1,83,926

Operating Income-3203 2,68,000 5,48,000

Journal Subscription-320303 2,68,000 5,48,000

Seminars Participation Fees-3202 3,15,74,176 2,89,59,462

Seminar Income-320201 3,15,74,176 2,89,59,462

Total Direct Income 7,24,17,309 8,68,81,766

Purchase Accounts-41 16,57,174 17,30,741

Direct Expenses-42

Employee Benefit Expenses-4202 99,79,794 88,72,428

Contribution to Funds-420202 7,68,017 6,58,196

Salary,Pension & Other Allowances-420201

91,01,161 80,18,637

Staff Welfare-420203 1,10,616 1,95,595

Operating Expenses-4204 4,82,26,573 6,85,73,227

Audit Fees-420420 1,20,000 58,000

Class Room Training - GMCS 1,22,64,665 1,43,39,891

Coaching Class expenses-420417 20,11,487 68,45,205

Journal Subscription Expenses-420401 54,93,299 47,88,432

Meeting Expenses-420419 22,94,081 23,39,827

Other Expenses-420423 61,20,417 63,75,600

Postage and Telephone-420407 3,94,809 11,61,254

Professional Expenses-420413 98,31,274 87,16,378

Reading Room Expenses-420424 85,805 5,595

Rent Rates & Taxes-420408 33,11,618 92,17,834

Repair & Maintenance-420411 36,01,177 1,10,31,423

Technology Expenses-420406 18,94,093 26,59,358

Travelling & Conveyance-420409 8,03,850 10,34,429

Printing and Stationery-4203 5,49,260 4,43,393

Printing & Stationery-420301 5,49,260 4,43,393

Seminar and Programs-4201 3,66,33,076 3,40,45,752

CA Day-420103 9,76,957 10,95,064

Seminar Expenses-420101 2,97,51,674 2,96,67,769

Seminar Students Exp-420102 59,04,445 32,79,679

Yoga Day-420104 3,240

Total Direct Expenses 9,70,45,877 11,36,65,541

Particulars 1-4-2019 to 31-3-2020 1-4-2018 to 31-3-2019

Indirect Incomes-33 1,04,95,643 76,91,269

Other Income-3301 1,04,95,643 76,91,269

Interest Received on Investment-330101 73,60,139 71,19,866

Other Income-330104 31,35,504 5,71,403

Inter Head Balances- IE-51 2,30,94,234 2,07,70,714

Inter Head- IE-5101 2,30,94,234 2,07,70,714

Audit Fee Grant-510109 26,500

BOS Related Grants Grant-510114 64,04,412 22,14,447

Branch Administration Grant-510105 1,36,500

Commission on Publication A/c-510112 2,924 39,267

Membership Fee Grant-510103 33,10,000

Revenue Grant-RC-510102 1,66,86,898 1,50,44,000

Indirect Expenses-43 12,20,242 11,07,782

Depreciation-4301 12,20,242 11,07,782

Depreciation-Intangible Assets-430102 15,608 12,319

Depreciation-Tangible Assets-430101 12,04,634 10,95,463

Excess of Income over Expenditure before

exceptional and prior period items: 77,41,067 5,70,426

Exceptional item (Refer Note B1) - Other Income-

330104 1,75,25,598 —

Excess of Income over Expenditure before

prior period items: 2,52,66,665 5,70,426

Prior Period Items

Other Income-330104 4,34,112 4,03,600

Other Expenses-420423 — 1,57,61,119

Excess of Income over Expenditure for the year 2,57,00,777 (1,47,87,093)




For WIRCofICAI

Sd/- CA.LalitBajajChairman

Sd/- CA.VishalP.DoshiVice-Chairman

Sd/- SacchinGhadialliPartnerUDIN: 20133178AAAAEO1166 Membership No. 133178

Sd/- CA.MurtuzaKachwalaSecretary

Sd/- CA.AnandJakhotiyaTreasurer


Sd/- CA.AmitaKavleAssistant Secretary

Sd/- ShriRaviAroraJoint Director


SIGNIFICANTACCOUNTINGPOLICIESANDNOTESFORMINGPARTOFACCOUNTSFORTHE

YEARENDEDON31.03.2020

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-disbursable to WIRC on the basis of expenditure incurred for specific seminar/program/event and accounted for on accrual basis after the conduct of the said seminar / program/ event in the same financial year, 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 program, 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’.

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 asset’s 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 WIRC are accounted at cost 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 taxes, applicable if any, is made

at Head Office.

12. UnclaimedCheques Unclaimed cheques for more than three years are transferred to

Miscellaneous Income account on annual basis.

B) OtherNotes :1. An amount of ` 3,75,25,598 was payable to Mumbai

DCO as at 1st April, 2019 which been settled at ` 2,00,00,000 as per the decision of Management Committee, ICAI and amount written back ` 1,75,25,598 has been shown as exceptional item in the Income & Expenditure Account.

2. The common expenses sharing ratio between DCO & WIRC was 50:50, which has been revised w. e. f. 01.04.2019. The revised expenses sharing ratio is as follows:

NatureofExpenses Ratio (%) forDCO:WIRC

SpaceUtilisationRatio:Property Tax, Repairs and Maintenance, Water charges, Lift Annual Maintenance Contract, Housekeeping, Security, Ground Rent/Government Taxes

78 : 22

ComputerUtilisationRatio:Electricity, Air Conditioner AMC, Internet Charges

95 : 05

TelephoneUtilisationRatio:Telephone Charges, EPABX AMC

76: 24

Due to the above change in common expense sharing ratio, figures of the current year are not comparable with the corresponding figures of previous year in respect of heads of expenses stated above.

3. Staff Advance of Rs 12,40,000/- paid during the year 2018-19 to Staff is reflected as “Advance against 7th Pay Commission” for which the necessary provision has been made at HO.


4. Various Grants have been consolidated as per the instructions of HO, hence the figures of the current year are not comparable with the corresponding figures of previous year.

5. Contingent Liabilities: As on 31-03-2020: Nil

6. Capital Commitment: As on 31-03-2020: Nil

7. Head office publication stock (Board of Studies Material) having value of Rs. 42,77,850/-has been discarded as the same was obsolete.

8. 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.

9. The total interest on long term investments is Rs. 87,39,307/- out of which interest of Rs. 18,01,769/- pertains to earmarked funds, which is credited to respective ‘Earmarked funds.’

10. TDS on interest on investments is accounted at the time of deduction of Tax by the respective banks.

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

12. Disclosure of Prior Period Income and Expenses

The prior period income of Rs. 4,34,112/- appearing under the Head Other Incomes comprises of the following items:

Particulars Details Amount(inRs.)

Seminar Income Share of income for joint workshop on GST with GSTPAM and other professional bodies for FY 2018-19 now recognised.

13,728

Newsletter Advertisement Income

Month of November,2018; December, 2018; January, 2019; February,2019 and March, 2019 recognised in FY 2019-20.

3,75,000

GMCS Fees Recording of GMCS Income of Last year (1 student)

6,500

Venue Charges Excess Venue Charges refunded and accounted pertaining to last year

38,884

13. The Input Tax Credit and Output Tax Liability under GST for the year 2018-19 and 2019-20 are under reconciliation with Head Office.



OtherLiabilites-1205Group Summary

Particulars

1-4-2019to 31-3-2020

1-4-2018to 31-3-2019

Closing Balance Closing Balance

Debit Credit Debit Credit

Deposits-120501 21,81,675 22,40,675

EMD payable-120501003 11,09,000 11,83,000

Library Deposits-120501001 10,72,675 10,57,675

Other Payable-120502 10,02,863 67,04,336

Other liabilities-120502010 7,18,384 62,24,035

W001- CABF -120502010 99,997 19,677

W001- Chairman Fund-120502010 3,90,247 2,57,045

W001- Excess Seminar Fees Received- 120502010

3,776 —

W001- GMCS Fees Received in Advance-120502010

— 7,22,000

W001- Newsletter Advertisement Advance A/c-120502010

— 3,75,000

W001- OT & Diet Payable to Staff-120502010

— 34,521

W001- Provision for Electricity Charges -120502010

- 1,59,692

W001- Provision for Expenses-120502010

1,00,000 7,66,300

W001- Provision for Repair Cess-120502010

— 36,022

W001- Provision for Telephone Expenses-120502010

— 6,12,400

W001- Provision for Water Charges-120502010

— 73,241

W001- Reading Room Fees Received in Advance-120502010

— 2,33,400

W001- Refund To Participants-120502010

36,354 75,450

W001- Seminar Fees Received in Advance- 120502010

71,406 16,66,748

W001- Staff Payable for Petty Cash-120502010

— 1,94,399

W001- TA / DA for Meeting-120502010

3,970 8,56,830

W001-Library Deposit Refund-120502010

— 3,000

W001-Provision for Mass email & SMS charges-120502010

— 73,136

W001-Provision for contractual staff charges-120502010

— 53,200

W001-Round Off-120502010 0 —

W001-Unidentified credited from HO and others-120502010

12,634 11,974

Other Liability - Out dated cheque-120502008

2,84,479 4,80,301

Grand Total 31,84,538 89,45,011


For WIRCofICAI

CA.LalitBajajChairman

CA.VishalP.DoshiVice-Chairman

SacchinGhadialliPartnerMembership No. 133178 CA.Murtuza

KachwalaSecretary

CA.AnandJakhotiyaTreasurer


CA.AmitaKavleAssistant Secretary

ShriRaviAroraJoint Director


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ClassRoomTrainingIncome-320104Group Summary

Particulars

1-4-2019to 31-3-2020

1-4-2018to 31-3-2019

Amount (in `) Amount (in `)Debit Credit Debit Credit

Coaching Class Fees-320104005 28,47,700 88,45,624W001-Coaching Class Fees-320104005

28,47,700 88,45,624

GMCS-II Fees-320104004 2,45,96,000 3,30,72,000W001- GMCS-II Fees-320104004 2,45,96,000 3,30,72,000Reading room income-320104006 38,94,700 32,57,698W001- Reading Room Income-320104006

38,94,700 32,57,698

Grand Total 3,13,38,400 4,51,75,322

SeminarIncome-320201Group Summary

Particulars

1-4-2019to 31-3-2020

1-4-2018to 31-3-2019

Amount (in `) Amount (in `)Debit Credit Debit Credit

Seminar income- Members-320201001

2,36,85,026 2,06,67,792

W001-Seminar Income- Members-320201001

2,36,85,026 2,06,67,792

Seminar Income- Non Members-320201003

66,10,000 60,10,361

W001-Seminar Income- Non Members-320201003

30,000 75,361

W001-Sponsorship Income-RCM-320201003

65,80,000 59,35,000

Seminar income- Students-320201002

12,79,150 22,81,309

W001-Seminar Income- Students-320201002

12,79,150 22,81,309

Grand Total 3,15,74,176 2,89,59,462

OtherIncome-3301Group Summary

Particulars

1-4-2019to 31-3-2020

1-4-2018to 31-3-2019

Amount (in `) Amount (in `)

Debit Credit Debit Credit

Interest Received on Investment-330101

73,60,139 71,19,866

Interest - Flexi Deposit-330101004

— 20,715

Interest - Long Term FD-330101003

69,37,538 66,49,615

Interest - Savings-330101001

2,19,241 3,47,509

Interest - Short Term FD-330101002

2,03,360 1,02,027

Other Income-330104 2,10,95,214 9,75,003

Library Deposits Written Back-330104017

7,000 —

Misc Receipts-330104003 17,61,694 3,18,954

Prior Period Income-330104015

4,34,112 4,03,600

Provision No Longer required-330104001

1,87,82,044 1,68,748

Sales of Pulping-330104021

1,10,224 83,591

Student Association Other Income-330104019

140 110

Grand Total 2,84,55,353 80,94,869


Western India Regional Council of The Institute of Chartered Accountants of India, ICAI Tower, Plot No. C-40, G Block, Opp. MCA Ground, Next to Standard Chartered Bank, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 and printed By Finesse Graphics & Prints Pvt. Ltd., Tel. : 022-33671400, 33671500If undelivered, please return to:

ICAI Tower, Plot No. C-40, G Block, Opp. MCA Ground, Next to Standard Chartered Bank, Bandra Kurla Complex, Bandra (East), Mumbai-400 051

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