E– NEWSLETTER WICASA VADODARA 2020 FEBRUARY 2020 … · 2020-04-09 · Bhumika Harwani Committee Member 8966095855 ... charges monopoly prices in the effort to cover their losses

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

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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

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10

7

4

13

14

15

GLIMPSES OF EVENTS OF FEBRUARY 16

February, 2020

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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


February, 2020

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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.


February, 2020

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Editorial Team

CA. Vinod Pahilwani Chairman

Janhavi Bhave Editorial Head

Bhavisha Dubber Press & Media Head

Time Table of

Revisionary Lecture

*Subject to Changes


February, 2020

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Time Table Of

Mock Test

*Subject to Changes


February, 2020

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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


February, 2020

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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.


February, 2020

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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


February, 2020

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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


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

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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:


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

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‘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.


February, 2020

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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.


February, 2020

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Art Corner

Kelly Patel

WRO0573250

Janhavi Bhave

WRO0590957


February, 2020

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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


February, 2020

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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".


February, 2020

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Find The Difference

There are total 7 Differences. Send your answers

@ [email protected]

The 1st person who will find ALL the correct differences will get free

entry for any one of their preferred REVISIONARY LECTURE


February, 2020

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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


Glimpses of Events

February, 2020

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Articleship Orientation program

24/02/2020

Study circle by Bilal Khoja

01/03/2020

Study circle by Harsh Vekaria

22/02/2020


Glimpses of Events

Documents

E– NEWSLETTER WICASA VADODARA 2020 FEBRUARY 2020 … · 2020-04-09 · Bhumika Harwani Committee Member 8966095855 ... charges monopoly prices in the effort to cover their losses