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February, 2020
1
YOUR MONTHLY GUIDE TO CA NEWS,
INFORMATION AND EVENTS.
E– NEWSLETTER
WICASA VADODARA 2020
THE CHARTERED ACCOUNTANT
STUDENTS
THE INSTITUTE OF CHARTERED
ACCOUNTANTS OF INDIA FEBRUARY 2020 EDITION
February, 2020
2
List of contents
LIST OF COMMITTEE MEMBERS
CHAIRMAN’S COMMUNICATION
PRICING DECISION
WICASA Vadodara, 2020
FACELESS E-ASSESSMENT
PAINTINGS AND PHOTOGRAPHY
POETRY
OUT OF BOX QUESTIONS & ANSWERS
3
10
7
4
13
14
15
GLIMPSES OF EVENTS OF FEBRUARY 16
February, 2020
3
Name Designation Contact No.
CA. Vinod
Pahilwani Chairman 9898078176
Sagar Jadav Vice–Chairman 9662019227
Harsh Vekariya Secretary 9978622636
Mehul Kumar Programming
Head 9898678244
Janhavi Bhave Editorial Head 7226908891
Bhavisha
Dubber Press and Media Head 9624974297
Arpan Shah Social Media Head 9173028833
Mehul Modi Registration Head 6354563719
Dhruval Velani Guest Co-ordinator 9427201795
Bhumika
Harwani Committee Member 8966095855
Minesh Tahiliani Treasurer 9723121617
List of committee members
WICASA Vadodara, 2020
February, 2020
4
Chairman’s Communication
Dear Students ,
I think, “The 1st step towards getting somewhere
is to decide that you are not going to stay
where you are.”
WICASA aims at an overall development of all CA students so that
they can stand equally and be competent professionals. For students I
think it's time to study harder and prove to the world that they are
still in a battle. WICASA is always there to help you out and to come
up with the new and upgraded version of yours.
I believe that the Newsletter is the Reflector of all the activities done
and knowledge shared during specific period, like the events organ-
ized by WICASA Vadodara in February, 2020.
I would like to give you glimpses of the events organized by us in the
month of February, which are as follow :
1. Live screening of Budget.
2. Press Meet for CA Inter/IPCC and Foundation Students.
3. Articleship Placement Programmes.
4. Post Budget Analysis Session.
5. Our students came together at Happy Street for refreshment.
6. Celebration of Matru-Pitru Diwas and Motivational Session.
7. Articleship Orientation Programme.
8. Study Circle for various CA Inter Students.
Friends Team WICASA is committed to nurture Innovation, Creativ-
ity and Excellence in our students. Any suggestions, criticism and en-
couragement by the readers of the newsletter, will be highly appreci-
ated.
I Wish you all a great and a memorable journey with WICASA
2020.
WICASA Vadodara, 2020
February, 2020
5
Editorial Team
CA. Vinod Pahilwani Chairman
Janhavi Bhave Editorial Head
Bhavisha Dubber Press & Media Head
Time Table of
Revisionary Lecture
*Subject to Changes
WICASA Vadodara, 2020
February, 2020
7
What is Pricing Decision?
By the term pricing decision, we mean the choices of business enti-
ties taken into consideration by them while setting the prices for
their products and services. As price of a product plays an impor-
tant role in growth of the business entities. Price of a product must
be set after considering various factors like;
1. Pricing for different market structures.
2. Competitors
3. Type of Product and services
4. Demand and Supply of such products and services.
5. Cost structure
Importance of Pricing decision:
For the long term survival and growth of an business entity, the en-
tity should plan proper and acceptable pricing policy. For
example; if a company launches a new product in the market, then
the new product should be categorized into Two types for the
purpose of pricing.
Revolutionary Product:
This type of product is said to be revolutionary when it is
newly introduced in the market and has the potential to create its
own value. When a new product is introduced, it has the capability
of becoming market leader and capture the major market share.
Product. It may priced by taking cost benefits, competitor and
demand for the product.
Pricing Decision
WICASA Vadodara, 2020
February, 2020
8
Evolutionary Product:
A Product which has been introduced with some upgradations like
with few additional characteristics in it, is known as evolutionary
product. It may priced by taking cost benefits, competitor and de-
mand for the
product.
Now coming on to main discussion:
Understanding the role of Predatory pricing done by business enti-
ties.
What is predatory pricing?
In Predatory pricing, the pricing of goods and services are quoted
at such a low level that other firms cannot compete and are forced
to leave the market.
This type of pricing is mainly done to drive out the competitors
from the market and gain the major market share. After
driving out the competitors from the market, the
dominating firm create its own monopoly and, thereafter controls
the entire market and price of products and services. Predatory
pricing is also known as undercutting.
The main objective of setting out this type of pricing is to achieve
new customers and creating barriers for new entrants.
Predatory pricing is anti-competitive in nature and therefore this
type of practice is illegal and is prohibited under many competition
laws.
Predatory pricers are also termed as loss leaders.
There are two stages in predatory pricing;
1) Predation stage: In this stage, goods and services are offered at
below its cost in order to price its competitors out of the market.
WICASA Vadodara, 2020
February, 2020
9
2) Recoupment stage: This stage only arises in cases where the domi-
nant firm succeeds in squeezing
competitors out of the market- within this stage the dominant firm
charges monopoly prices in the effort to cover their losses.
At last, this type of practice should be avoided so as to create healthy
competition among the players
present in the market.
Name: Pushp Kumar Sahu
CRO0553317
WICASA Vadodara, 2020
February, 2020
10
Faceless/ E-Assessment
Meaning:
‘Faceless / e-Assessment’ means an assessment procedure in which
assessee can execute his Income Tax Assessment proceedings
through online mode and without any physical interface between the
assessee and the assessing officer/authority.
e-Assessments u/s 143(3) were introduced for the first time for the
cases for AY 2017-18 and onwards.
Procedure:
National e-Assessment Centre (NeAC) is the assessing authority and
Assessment u/s 143(3) is carried out in electronic form only via ‘
’e-Proceedings’’ tab in the e-Filing portal of Income-tax department’s
WICASA Vadodara, 2020
Assessing officer/authority can drop a notice for relevant assess-
ment year which will be reflected to assessee in above shown tab
of assessee’s registered account.
February, 2020
11
Assessee can submit a reply to any particular notice of relevant as-
sessment year and also he can view earlier submissions by clicking
on ‘view’ tab as shown in below picture:
WICASA Vadodara, 2020
Reply to any notice can be done (if portal is open for submission) at
any time in pdf / xls / csv formats only and maximum 10 attach-
ments are allowed in one submission. Interface of the same is shared
below:
February, 2020
12
‘Pros’ of e-assessment:
Cost effective:
Due to electronic assessments, paper cost gets saved and no sub-
mission is made in hardcopies.
Rapid proceeding:
Comparing with traditional approach of assessments, e-
assessments are faster way of completing proceedings and
saves time.
Records of document / Track of Submissions:
As the reply is done in soft copies, uploaded copies of submission
or attachments are stored online at the website and also act as a
cloud where assessee can view his any of the earlier submis-
sions.
Unbiased judgement:
As there is no personal touch involved, the judgement of officer
will be clean and unbiased.
‘Cons’ of e-assessment:
Size & Number of documents:
Only 10 attachments having aggregate size up to 50 MB are only
allowed per submission, for more attachments assessee have to
upload documents in another submission.
Satisfaction of officer:
In e-proceeding, since the taxpayer will not be able to appear be-
fore the tax officer and discuss submissions he has filed, he
may not be able to make his judgment whether the tax officer is
convinced with his submissions or not.
WICASA Vadodara, 2020
February, 2020
13
Name: Shashant Vasandani
WRO0568876
New & Complex procedure:
As the procedure is new, one can face difficulties in uploading the
documents as one may not be habitual to it.
Technical glitches:
Sometimes due to excess load over income tax website or other
technical error, assessee may face difficulties in uploading
documents at e-filing portal.
Conclusion:
The idea of e-assessment is a forward move towards digitali-
sation and reducing human interventions and is intended to
help both, the taxpayers as well as the tax authority in speedy
completion of scrutiny assessments. Hence this will make tax
assessment proceedings convenient and also time and cost ef-
fective for taxpayers.
WICASA Vadodara, 2020
February, 2020
15
Poetry
Why am I afraid to leave Home?
Why am I afraid to raise my voice
against a
pervert next door ogling me in broad
daylight?
Why am I afraid of dark and lonely
roads?
Because my Hymen judges my char-
acter,
My unburnt body judges what kind of
Man will I marry,
And my uncharred face judges what
kind of people will
have a face of Disgust when they see
me pass by.
I don't fear death anymore.
I don't fear getting run over by a car
while I walk on footpaths.
I fear getting teased and touched and
tortured
when all I did was to shout "DON'T".
If you can feel me WELCOME TO
THE CLAN.
If you don't, grow stronger,
help someone or try and just BE A
MAN.
Bhavisha Dubber
WRO0614285
WICASA Vadodara, 2020
February, 2020
16
Out of box Questions and answers
Question:1
Interviewer :"I shall either ask you ten easy questions or one really
difficult question.”
Think well before you make up your mind!" The boy thought for a
while and said, "my choice is one really difficult question."
"Well, good luck to you, you have made your own choice! Now
tell me this. "What comes first, Day or Night?"
The boy was jolted into reality as his admission depends on the
correctness of his answer, but he thought for a while and said, "It's
the DAY sir!"
"How" the interviewer asked,
"Sorry sir, you promised me that you will not ask me a SECOND
Question:2
Interviewer: He ordered a cup of coffee for the candidate. Coffee
arrived kept before the candidate, then he asked what is before
you?
Candidate: Instantly replied "Tea"
He got selected.
You know how and why did he say "TEA" when he knows very
well that coffee was kept before.
(Answer: The question was "What is before you (U alphabet) Re-
ply was "TEA" ( T alphabet)
Alphabet "T" was before Alphabet "U".
WICASA Vadodara, 2020
February, 2020
17
Find The Difference
There are total 7 Differences. Send your answers
The 1st person who will find ALL the correct differences will get free
entry for any one of their preferred REVISIONARY LECTURE
WICASA Vadodara, 2020
February, 2020
18
Press meet for CA-Foundation & CA-Inter on 04/02/2020
Articleship placement program on 06/02/2020 Post-Budget session on 08/02/2020
Matru-Pitru diwas on 14//02/2020 Motivational session on 14/02/2020
WICASA Vadodara, 2020
Glimpses of Events