21 August 2008

Withdrawal of Guidance Note on Treatment of Expenditure during Construction Period

Withdrawal of Guidance Note on Treatment of Expenditure during Construction Period - (19-08-2008)


The Council, at its 280th meeting, held on August 7-9, 2008, has decided to withdraw the Guidance Note on Treatment of Expenditure during Construction Period, as the same is no longer relevant in the present day context.


--
Ashwin Nagar India +91-9833015352
Success is not permanent and failure is not final

14 August 2008

Multipurpose Empanelment Form is hosted


Multipurpose Empanelment Form is hosted on
www.meficai. org

Last Date for submission 15 th sept 2008.

Hard copy acknowledgement should reach by 25 sept 2008


Download Multipurpose Empanelment Form (MEF) for the year 2008-09
http://www.meficai. org/verify2. jsp

Frequently Asked Questions (FAQs) related to Empanelment Form


Q1.
From where do I get the Form for application for empanelment for Bank Branch Auditor’s Panel? Frequently
Ans.
Please visit website
http://www.meficai. org/. Guidance in this regard is provided in 'Instructions and Applicant Guide' and ‘Technical Manual’ , which can also be downloaded from the same site.
Q2.
What programs should I have in computer for filling up the Form?
Ans.
Following programs are required:

1. WINDOWS 98/2000/XP/VISTA
2.
ADOBE ACROBAT READER (5.0 or above)
3.
WINZIP
4.
INTERNET EXPLORER 6.0 or later version
If you do not have 2,3,4, you can download them by clicking on the names of the programs above. These are also available on the website
http://www.meficai. org/ where the Form is hosted.
Q3.
Why is my Firm Registration No./Membership No. not being accepted?
Ans.
Membership No. should be of 6 digits. If required, prefix `0' [Zero(es)]. If your Membership No. is ‘12345’, fill ‘012345’
Firm registration no. should be of 7 characters (six numerals and one alphabetical suffix). If required, prefix `0' [Zero(es)], e.g. for firm registration no. `12345N', please fill-up `012345N'."Guidance in this regard is also provided in
'Instructions and Applicant Guide'
Q4.
I do not have Unique Code Number. How do I obtain it?
Ans.
Unique Code Number is allotted when the application for the empanelment for Bank Branch Auditors' Panel is accepted for the first time. New applicants or those whose numbers are not available in the ICAI database, will be allotted new Unique Code Numbers during the process of preparation of panel for the year 2008-09. The same will be intimated by email when the Panel is finalised. In case of first time applicants or in cases where the Number is not available in ICAI records, “NOT ALLOTTED” will be displayed in the box for ‘Unique Code No.’. Where it is allotted in the past and is available in the ICAI database, the same will be displayed in this box. For more details please refer Section ‘C’ of Instruction & Application Guide.
Q5.
Why am I not able to fill some of the entries/annexures after downloading the Form?
Ans.
Please check whether you have all the required programs as mentioned at FAQ No 2. It is necessary to have all these programs to fill up the Form.
Q6.
Why am I getting a message titled “Error 500” on trying to download the MEF?

Ans.
Please disconnect the Internet, connect again and fill-up the complete name of the website for downloading the Form. The complete name of the website on which the Form is hosted is
http://www.meficai. org/
Q7.
When we are filling up MEF, the program gets terminated automatically intimating performance of an illegal operation. What is the solution?
Ans.
The mshtml.dll file is corrupted or missing from your system. Please follow the below mentioned steps to rectify the said problem (as suggested by microsoft corporation) .Error:IExplore Caused an Invalid Page Fault in Module Mshtml.dllTranslation:If you are attempting to use Microsoft Internet Explorer, you may see this error message if the Dynamic Link Library file, Mshtml.dll, is corrupted or missing.Solution:Internet Explorer uses Mshtml.dll to render Web pages, so you need it to access the Internet effectively. You will need to replace the Mshtml.dll file on your computer using the System File Checker tool and your Windows 98 installation CD.
Exit and close any programs you have running and insert the Win98 installation disc in the CD drive. At the Start menu, select Programs, Accessories, and System Tools. Select System Information. Go to the Tools menu and select System File Checker and click OK. When System File Checker appears, select Extract One File From Installation Disk. In the Specify The System File You Want To Restore field, type mshtml.dll and click Start. In the Extract File dialog box, type d:\win98 (if d:\ is the letter name of your CD drive) in the Restore From field. Click OK. You'll then see a Backup File dialog box; click OK. If a message appears that says, "The backup folder does not exist, do you want to create it?" click Yes. When the extraction process ends, click Yes to restart the computer.
Q8.
Can we download the MEF again?
Ans.
Yes, the applicant can download MEF again after deleting the previously downloaded MEF. The applicant will receive the same MEF Application No.
Q9.
What is the last date to fill up and submit the MEF?

Ans.
The last date for submission of application on the website is 12th September, 2008 and the last date for receipt of duly signed hard copy of Declaration (alongwith the acknowledgement of electronic submission of application received by e-mail) at the following address is 22nd September, 2008:

The Secretary,
Professional Development Committee,
The Institute of Chartered Accountants of India
’ICAI Bhawan’
Indraprastha Marg
New Delhi –110002.
Q10.
I had not applied for the panel last year i.e. 2007-08. However, Unique Code Number has already been allotted to me in earlier years. But I am unable to fill the same in the Multipurpose Empanelment Application Form for this year and only the words 'NOT ALLOTTED' is displayed there and its a non-editable field.
Ans.
Incase, the applicant had not applied for the panel last year but had been allotted a Unique Code Number in the earlier years, the applicant is requested to mention the same in Memorandum of Changes column provided in the main form of the MEF. However, in the declaration, the applicant may mention the Unique Code Number at the designated place. The same will be considered during the preparation of the panel at the Institute's end.
Q11.
When I download the Form, it does not indicate the name – it is blank. How do I go about it?

Ans
Pl open the Index file with Internet Explorer only and not with any other program like Firefox etc.You may go through the Frequently Asked Questions related to Empanelment Form, Instruction and Applicant Guide and Technical Manual which can be downloaded from the site www.meficai. org for further guidance.
Q12.
I had applied for empanelment last year. Do I have to fill the Form again ?
Ans.
Yes. You are required to fill in the Form again.
Q13.
I had applied for empanelment last year but I do not remember my UCN. What should I do?
Ans.
UCN, as available in the record of the ICAI, will be displayed automatically in the fields displayed in the Form.
Q14.
Getting following error(s) on clicking the link “Download Multipurpose Empanelment Form”:
Error: 500Location: /step1.jspInternal Servlet Error:java.io.FileNotFoun dException: D:\tomcat\webapps\ ROOT\step1. jspat org.apache.jasper. compiler. JspReader. pushFile(JspReader.java: 214)at org.apache.jasper. compiler. JspReader. pushFile(JspReader.java: 165)at org.apache.jasper. compiler. JspReader.(JspReader. java:283)at org.apache.jasper. compiler. JspReader. createJspReader(JspReader.java: 289)at org.apache.jasper. compiler. Compiler. compile(Compiler.java: 159)at org.apache.tomcat. facade.JasperLia ison.jsp2java( JspInterceptor. java:636)
at org.apache.tomcat. facade.JasperLia ison.processJspF ile(JspInterceptor. java:592) at org.apache.tomcat. facade.JspInterc eptor.requestMap(JspInterceptor. java:410)at org.apache.tomcat. core.ContextMana ger.processReque st(ContextManager. java:831)atorg.apache. tomcat.core. ContextManager. internalService(ContextManager. java:743at org.apache.tomcat. core.ContextMana ger.service(ContextManager. java:701)atorg.apache. tomcat.modules. server.Ajp13Inte rceptor.processC onnection( Ajp13Interceptor .java:16at org.apache.tomcat.
util.net. TcpWorkerThread. runIt(PoolTcpEndpoint. java:424)atorg.apache. tomcat.util. threads.ThreadPo ol$ControlRunnab le.run(ThreadPool. java:497)at java.lang.Thread. run(Thread.java: 534)
Ans.
Please use
http://www.meficai. org and NOT http://meficai. org/.
Q15.
I do not have branch (
es) but, I am unable to fill “Nil” in Annexure C.
Ans.
You need not fill Annexure C at all in such cases. Value ‘0’ will itself flow to the database.
Q16.
I have applied for Certificate of Practice on 2nd July 2008. Whether I am eligible for applying for the Panel for the year 2008-09?
Ans.
The status of the applicant as on 01.01.2008 is to be considered for Empanelment Form 2008-09, therefore, you are not eligible to apply for the Panel for the year 2008-09.
Q17.
I have not received the Acknowledgement E-mail. What should I do to receive the acknowledgement?

Ans.
Please go to the Section ‘ download acknowledgement “ in the main page and download the acknowledgement or visit the link
http://www.meficai. org/mymefstatus. jsp and download the acknowledgement mail.
Q18.
All the partners who were partners on 1.1.2008 are now not partners. Whether the retired partners should also sign the Form?
Ans.
Only the continuing partners are required to sign the Form. Please see the declaration which reads as follows:"The declaration should be signed by the individual /proprietor in case of sole proprietary concern and by all continuing partners (from out of the partners as on 01.01.2008) as on the date of the application in case of a partnership firm. The credit/points will be given only for those continuing partners who have signed the declaration. The credit/points for the partners who have joined subsequent to 01.01.2008 will not be given."

Q19.
I am a Fellow member of the Institute w.e.f. 23-04-2008 . Whether I have to fill up FCA or ACA in Annexure A ?
Ans.
The position is to be filled in as on 1.1.2008. So if you were an ACA on that date, you need to fill in ACA.

07 August 2008

Announcement reagrding MEF for the year 2008-09

Announcement reagrding MEF for the year 2008-09
Multipurpose Empanelment Application Form for the year 2008-09

Multipurpose Empanelment Application Form for the year 2008-09 is expected to be hosted by 12th August 2008.

Everyone is advised to check their last year's data and fill in all the blank columns and the relevant details. This is for your own safety and benefit.

New applicants should of course, fill in all the details of the form.

06 August 2008

Due Dates of August Month

Important dates to Remember for the month of August 2008

Due Date

Obligation

Challan/ Forms

5 Aug

Monthly Payment of Excise Duty for the Month of July – Non SSI Units - Rule 8 Challan.

GR-7

5 Aug

Monthly Payment of Service Tax for the Month of July - Other than Individual / Proprietary Firm or Partnership Firms - Rule 6(1)

GR-7

7 Aug

TDS/TCS Deposit, deducted in the Month of July 2008

281

7 Aug

Deliver a copy of from 15G/15H/27C to CCIT or CIT for declarations received in the month of July 2008

10 Aug

Monthly Return of Central Excise for the Month of June - EOU / STP Units - Rule 12

ER-1

10 Aug

Monthly Return of Central Excise for the Month of July – Non SSI Units - Rule 12

ER-2

16 Aug

Monthly Payment of Excise Duty for the Month of July – SSI Units - Rule 8 TR - 6 Challan

GR-7

16 Aug

Deposit TDS (VAT) in Challan no. DVAT 20 and issue certificate for TDS in form DVAT-43 for deductions in the month of July 2008

20 Aug

Monthly payment of EPF

21 Aug

ESI Deposits

A1/B

25 Aug

EPF MONTHLY RETURN

Form 12A

25 Aug

Electronic Monthly Return of VAT for the month of July 2008

DVAT-16

28 Aug

Monthly Return of VAT for the month of July 2008

DVAT-16

31 Aug

Issue TDS/TCS certificates for credit/payment made in the month of July 2008

16 A

31 Aug

Furnish Annual information return u/s 285BA of I.T. Act in respect of specified financial transactions.

02 August 2008

Happy Friendship Day




Happy Friendship Day..

And be my Friend always...

--
Ashwin Nagar India +91-9833015352
Success is not permanent and failure is not final


four-step procedure for talking about fees:

Dr. James Grubman, a psychologist and consultant on wealth
management for high income families, has had success with a four-
step procedure for talking about fees:

1. Don't procrastinate. Fees aren't necessarily the first thing you
want to talk about, but plan the moment when you will bring it up,
and then do it without fail.

2. Present the fee structure clearly. This is easier if the
structure is simple. Clients don't want to grapple with shades of
gray. Don't muddle the issue with discussion of what other clients
have to pay or what your client might have to pay. Complex
structures designed to keep things fair are less effective than
structures that are easy to understand. Keep it simple. Explain it.
Move on.

3. Put your fees in context. Provide a chart comparing your fees
with your competitors'. This might be a good time to explain what
you're delivering for the fee.

4. Put it in writing. Don't let somebody's bad memory create a nasty
surprise. And don't put it in small print or legalese. Make it clear
that you're not hiding anything.

In short, don't be afraid to talk about fees. Use it as an
opportunity to build trust. If you're open, honest, specific and
unapologetic, your clients will trust you, and that trust is the
support system of a productive and long-term relationship.

01 August 2008

U CAN MAKE A HUGE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING FEW SIMPLE STEPS.

U CAN MAKE A HUGE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING FEW SIMPLE STEPS.


Please spare a couple of minutes here........for the sake of India ... our country.


I got this article from one of my friend, but it's true, I can see this from day to day life,

Small example
Before 5 months
1 CAN $ = IND Rs 32
After 5 months. Now it is 1 CAN $ = IND Rs 37


Do you think Canadian Economy is booming? No, but Indian Economy is Going Down.

Our Economy is in u'r hands


INDIAN economy is in a crisis. Our country like many other ASIAN countries is undergoing a severe economic crunch. Many INDIAN industries are closing down. The INDIAN economy is in a crisis and if we do not take proper steps to control those, we will be in a critical situation.


More than 30000 crore rupees of foreign exchange are being siphoned out of our country on products such as cosmetics, snacks, tea, beverages...etc which are grown, produced and consumed here .


A cold drink that costs only 70 / 80 paisa to produce is sold for NINE rupees, and a major chunk of profits from these are sent abroad. This is a serious drain on INDIAN economy.


"COCA COLA "and" SPRITE " belong to the same multinational company, "COCA COLA"?


Coke advertisements says ' JO CHAHO HOJAYE, COCACOLA ENJOY'

(Whatever the hell, let it happen, you drink coke)
What can you do?

You can consider some of the better alternatives to aerated drinks.
You can drink LEMON JUICE, FRESH FRUIT JUICES, CHILLED LASSI (SWEET OR SOUR), BUTTER MILK, COCONUT WATER, JALJEERA, ENERJEE, MASALA MILK..........


Everyone deserves a healthy drink, including you!
Over and above all this, economic sanctions have been imposed on us. We have nothing against Multinational companies, but to protect our own interests we request everybody to use INDIAN products only for next two years. With the rise in petrol prices, if we do not do this, the rupee will devalue further and we will end up paying much more for the same products in the near future.


What you can do about it?

1 . Buy only products manufactured by WHOLLY INDIAN COMPANIES.
2 . ENROLL as many people as possible for this cause.


Each individual should become a leader for this awareness.

This is the only way to save our country from severe economic crisis. You don't need to give-up your lifestyle. You just need to choose an alternate product.

All categories of products are available from WHOLLY INDIAN COMPANIES.

LIST OF PRODUCTS

BATHING SOAP:

USE - CINTHOL & OTHER GODREJ BRANDS, SANTOOR, WIPRO SHIKAKAI, MYSORE SANDAL, MARGO, NEEM, EVITA, MEDIMIX, GANGA , NIRMA BATH & CHANDRIKA

INSTEAD OF - LUX, LIFEBOY, REXONA, LIRIL, DOVE, PEARS, HAMAM, LESANCY, CAMAY, PALMOLIVE


TOOTH PASTE:

USE - NEEM, BABOOL, PROMISE, VICO VAJRADANTI, PRUDENT, DABUR PRODUCTS, MISWAK

INSTEAD OF - COLGATE, CLOSE UP, PEPSODENT, CIBACA, FORHANS, MENTADENT .


TOOTH BRUSH:
USE - PRUDENT, AJANTA , PROMISE

INSTEAD OF - COLGATE, CLOSE UP, PEPSODENT, FORHANS, ORAL-B

SHAVING CREAM:
USE - GODREJ, EMANI

INSTEAD OF - PALMOLIVE, OLD SPICE, GILLETE


BLADE:

USE - SUPERMAX, TOPAZ, LAZER, ASHOKA

INSTEAD OF - SEVEN-O -CLOCK, 365 , GILLETTE


TALCUM POWDER:

USE - SANTOOR, GOKUL, CINTHOL, WIPRO BABY POWDER, BOROPLUS
INSTEAD OF - PONDS, OLD SPICE, JOHNSON BABY POWDER, SHOWER TO SHOWER


MILK POWDER:

USE - INDIANA , AMUL, AMULYA

INSTEAD OF - ANIKSPRAY, MILKANA, EVERYDAY MILK, MILKMAID.


SHAMPOO:

USE - LAKME, NIRMA, VELVET
INSTEAD OF - HALO, ALL CLEAR, NYLE, SUNSILK, HEAD AND SHOULDERS, PANTENE

MOBILE CONNECTIONS
USE - BSNL, AIRTEL

INSTEAD OF - HUTCH


Every INDIAN product you buy makes a big difference. It saves INDIA .
Let us take a firm decision today.


BUY INDIAN TO BE INDIAN we are not against of foreign products.

WE ARE NOT ANTI-MULTINATIONAL.

WE ARE TRYING TO SAVE OUR NATION.
EVERY DAY IS A STRUGGLE FOR A REAL FREEDOM.

WE ACHIEVED OUR INDEPENDENCE AFTER LOSING MANY LIVES.

THEY DIED PAINFULLY TO ENSURE THAT WE LIVE PEACEFULLY. THE CURRENT TREND IS VERY THREATENING.


MULTINATIONALS CALL IT GLOBALISATION OF INDIAN ECONOMY. FOR INDIANS LIKE YOU AND ME IT IS RECOLONISATION OF INDIA ...

THE COLONIST'S LEFT INDIA THEN. BUT THIS TIME THEY WILL MAKE SURE THEY DON'T MAKE ANY MISTAKES.


WHO WOULD LIKE TO LET A" GOOSE THAT LAYS GOLDEN EGGS" SLIP AWAY.

PLEASE REMEMBER: POLITICAL FREEDOM IS USELESS WITHOUT ECONOMIC INDEPENDENCE .


RUSSIA , S.KOREA , MEXICO ..........THE LIST IS VERY LONG!!
LET US LEARN FROM THEIR EXPERIENCE AND FROM OUR HISTORY.

LET US DO THE DUTY OF EVERY TRUE INDIAN.


FINALLY: IT'S OBVIOUS THAT U CAN'T GIVE UP ALL OF THE ITEMS MENTIONED ABOVE,


SO GIVE UP ATLEAST ONE ITEM TO FOR THE SAKE OF OUR COUNTRY.

We would be sending useless forwards to our friends daily.
Instead please forward this mail to all your friends to create awareness.

"LITTLE DROPS MAKE A GREAT OCEAN ."


--
Ashwin Nagar India +91-9833015352
Success is not permanent and failure is not final

Five Days Residential Programme on Advanced Leadership for Chartered Accountants at IIM Ahmedabad

ICAI: Registration for the 2nd Batch of *Five Days Residential Programme on Advanced Leadership for Chartered Accountants at IIM Ahmedabad *...