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Price K5 May 2018 |  Volume 43  •  Part 11

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Published and Printed by Dr. P.T. Giridharan, Joint Director on behalf of Southern India Regional Council of the Institute of Chartered Accountants of India, 'ICAI Bhawan', # 122, Mahatma Gandhi Road, Nungambakkam, Chennai -600034. Phone: 044 39893989, 30210320. Email: sro@icai.in / sirc@icai.in. Website: www.sircoficai.org - Printed at M/s. Chennai Micro Print (P) Ltd., # 130, Nelson Manickam Road, Aminjikarai, Chennai - 600029. Editor: CA. Adusumilli Venkateswara Rao, Chairman, SIRC of ICAI.

Group Photograph of the delegates along with their family members at the 11th Regional Residential Seminar at Yercaud held from 27th to 29th April 2018.

SIRC Chairman CA. Adusumilli Venkateswara Rao is being presented with a Fruit Bouquet by SICASA Chairman-Salem Branch CA. A.V. Arun. CA. R. Krishnan, Treasurer-Salem Branch, RCM CA. Gopal Krishna Raju, CCM CA. G. Sekar, Salem Branch Chairman CA. S. Sureshkumar,

Erode Branch Chairman CA. D. Krishnasami are also seen

ICAI Vice President CA. Prafulla Premsukh Chhajed addressing during the launch of Samadhan-A CPE Q and A – E Solution Forum on 23rd April 2018 at Chennai. CCM-Eastern Region CA. Sushil Kumar Goyal, Past President ICAI CA. Amarjit Chopra, CCM-Western Region

CA. Mangesh Pandurang Kinare, CCM-Southern Region & CPE Committee Chairperson CA. K. Sripriya are also seen.

Speakers of CPE Meeting on Forex Transaction in Banking 12th March 2018

CPE Meeting on Money Laundering & Benami Transactions - 25th April 2018

Workshop on ABC of Income Tax – April 2018CPE Series on Ind AS – April 2018

Some of the Speakers of Workshop on Basics of GST – March & April 2018

Speakers of Seminar on Central Statutory Audit of Banks – 10th March 2018

CPE Meeting on NFRA and ICAI DC Mechanism 21st April 2018

Speakers of Investor Awareness Programme – 26th March 2018

Speakers of Bank Branch Audit 21st March 2018

Launch of Samadhan – CPE Q and A – E Solution Forum – 23rd April 2018

CA. T. G. Sukumaran, CA. T. R. Chandrasekaran and Ms. J. Lalitha, Chief Manager & Faculty, Baroda Academy, Bank of Baroda, Chennai.

CA. V. Prasanna Krishnan

CA. Ganesh Prabhu

CA. V.V. Sampath Kumar

CA. G. Sriram

CA. V. SankaranarayananCA. J. Murali

CA. J. Purushothaman

CA. Harini Sridharan

CA. Vijay Anand P

CA. K. Sivarajan

CA. Punit Shah

CA. R. Subramanian

CA. Sai Mukundan

CA. Chinnsamy Ganesan Coordinator

CA. T.G. Suresh Coordinator

CA. Dayaniwas SharmaCA. K. Ravi, Past Chairman, SIRC

CA. Gopal Krishna Raju RCM

CA. S. Pattabhiraman

CA. G. Sitharaman, Past President, ICAI

CA. P. Selvamoorthy

CA. M. P. Vijay Kumar, CCM, ICAI

CA. N. Ramesh

CA. K. Sripriya, CCM, ICAI

CA. M. Ravindra VIkram

CA. V. Nagappan

CA. D. Premnath

CA. R. Vittal Raj

CA. K. R. Suresh

Shri Vivek Karwa

CA. Udhay Sathe

CA. Anil Kumar Kheecha

Posted at Egmore RMS/(Patrikka Channel)Date of Publication : 2nd of every month Registered - RNI Reg. No. 28192/1975 - RNP Registered No. TN/CH(C)327/18-20Date of posting : 7th May 2018 WPP No. TN/PMG(CCR)/WPP-354/2018-20

11th Regional Residential Seminar at Yercaud – 27th to 29th April 2018

11

2

Dear Professional Colleagues,

Chairman,s Communique...

Greetings from SIRC: SIRC wishes Happy Birthday and Happy Anniversary to all those Members and Students who were born or who got married in the month of May.

Continued at Page no. 4

When this issue is in your hands, I would have completed 75 days in office as Chairman of SIRC. It has been an interesting and invigorating journey for me having met the members across the Region either during my visits to the Branches or during my participation in programmes where members across the Region had attended in such programmes organized by SIRC and some of the Branches in the last 75 days. The months ahead will witness many such programmes to be organized by us and it will give me further opportunities to closely come together with our professional fraternity. Past and the FutureIn this bright future you can’t forget your past. - Bob MarleyMy communication through this column last time sharing the “Happy Memories” was as a result of my perception about the “Past and the Future”. I am happy that it evoked very encouraging feedback from the members. This time, yet another nostalgic moments I would like to share this month. When ICAI was established on 1st July 1949, the total number of members was 1573 all over India. To-day we have more than 2.70 lakh members. Sharing of nostalgic moments would one way be of interest to know particularly for the younger generation and that is why I intend to continue my sharing on this aspect.

When I am writing this communication today the 1st May, I recall an important occasion in the history of SIRC. It is on this day in the year 1952, SIRC (then called Madras Regional Council of ICAI) held its first meeting chaired by the First Chairman of SIRC Mr. R.N. Rajam Aiyar. At this meeting Mr. C.S. Sastry was unanimously elected as Chairman of the Regional Council. Mr. C.S.Sastry went on to become the First President of ICAI from the Southern Region. The other office-bearer selected at the meeting were –• Mr. R. Venkatesan, Vice-Chairman (who later became the Third President of ICAI)• Mr. V. Soundararajan, Secretary (who later became the Central Council Member of ICAI between 1958-1964)• Miss R. Sivabhogam, Treasurer (who became the Chairperson of SIRC between 1955-1958 and had the unique distinction of having been

elected as Chairperson consecutively for three years)They and the successive Chairmen and Members of SIRC have laid a strong foundation. We do recognize and remember that the foundation always stays stronger which facilitates us and we are trying to build it further in the service of the profession.

Members and Students Services

SIRC is well-known for its effective administrative mechanism and we at the helm of affairs have been constantly monitoring and improving the standards to serve the members and students of our Region. We have a robust Website to disseminate the information of various programmes and a hassle free system for online registration for all our programmes. I, at this point, take this opportunity to thank the members and students for supporting our technological initiative from the conventional registration to that of online registration.

SIRC Website contains several features whereby the members can access the information such as:

• Details of CPE Programmes and Registration through Dash Board• DownloadtheproceedingsofprogrammesorganizedbySIRC• ViewtheRecordedandLiveWebcasts• Facility to display advertisements inviting for articled assistants and

Paid Assistants as also for positions in organizations as is permissible

• ProfessionalUpdates• FacilitytodownloadvariousformsprescribedbyCARegulations• ResourcesavailableintheSIRCLibrary• GrievanceCellthroughe-Sahaayata• Registrationfacilityforstudentsforattendingclasses,etc.

Besides we have a dedicated team of Officers and Staff in the administrative set up to realize the best outcome in all the activities of SIRC. This pro-active step being taken by SIRC is apart from the services offered by ICAI through its Website. I solicit the continued support in making our vision of paper-less transaction achieved and request the members and students to extensively utilize the facilities made available to them.Past and Future Programmes

Regional Residential SeminarsThe month of May would always experience heat waves across the country and the onset had already started from mid April itself this year. SIRC would however make it a pleasant month by organizing numerous programmes, including that of Regional Residential Seminars at cool elevatedareas.LastmonthSIRCconductedtheRegionalResidentialSeminaratYercaudbetween27thand29thhostedjointlybySalemandErode Branches of SIRC. It was well received by the members.SIRC would be holding few more Regional Residential Seminars in the months ahead and the details would be published in the Newsletter and also hosted in SIRC Website. It has been planned to organize these seminars at hill resorts and similar such places. Having been fully pre-occupied in your professional assignment, especially on Bank Audit last month, here is an opportunity for you to refresh yourself and get energized both physically as well as add value addition to your professional skills by attending these Residential Seminars. SIRC invites you to participate in large numbers.

The Institute of Chartered Accountants of India Continuing Professional Education (CPE) Committee

Initiatives of CPE Committee during the year 2018-19

Samadhan: a CPE – QnA e-Solution Forum:https://www.cpeicai.org/cpe-qna/

My CPE – Programs of your choice:https://goo.gl/kNDfE1

Quick Feed back for CPE Programmes:https://cpeapp.icai.org/quickFeedback

Detailed Feed back for CPE Programmes:https://cpeapp.icai.org/member/login

Chairman & Vice-Chairman Continuing Professional Education Committee, ICAI

A-29, Sector - 62, Noida - 201309 (Uttar Pradesh)Ph. 011-30110474, 0120-3045957/981 Email: cpeadmin@icai.in

SIRCNewsletterMay 2018 3

MAY 2018 onwards...SIRC CALENDAR

Sl.No Date / Day / Time Programme Topic / Speaker Delegate Fee*(including GST)

CPE Credit

1May 2, 2018Wednesday

05.00 p.m. to 07.00 p.m.

Bank Audit 2018 Sharing Lessons and Experiences 177 2

2May 3, 4 & 5, 2018

Thursday, Friday & Saturday04.30 p.m. to 08.30 p.m.

“Beyond Boundary” - Three Day Workshop on FEMA 2478 12

3May 7, 2018

Monday05.30 p.m. to 07.30 p.m.

Getting Maximum out of Articleship TrainingCA. N.R. Govindarajan 118 2

4May 12, 2018

Saturday10.00 a.m. to 05.00 p.m.

One Day Workshop on Excel Productivity TipsDetails at Page No.10 1180 6

5May 14, 2018

Monday10.00 a.m. to 05.30 p.m.

National Seminar on Internal AuditJointly Hosted by CPE Committee of ICAI and Internal Audit Standards Board of ICAI

Details at Page No.5708 6

6May 16, 2018Wednesday

06.30 p.m. to 08.30 p.m.

Ashok Kumbhat Memorial LectureDetails at Page No.6 No Delegate Fee No CPE

Credit

7May 17 - 19, 2018

Thursday - Saturday10.00 a.m. to 05.30 p.m.

Three Day Workshop on Goods and Services Tax (GST)Details at Page No.5 2950 18

8May 21 - 25, 2018Monday - Friday

04.30 p.m. to 08.30 p.m.

Five Day Workshop on Income Computation and Disclosure Standards (ICDS) Details will be hosted in www.sircoficai.org 2950 20

9May 26, 2018

Saturday09.00 a.m. to 12.00 p.m.

Breakfast Meeting on Audit under GSTCA. S. Sitharaman 236 3

10 May 29 & 30, 2018Tuesday & Wednesday

Regional Residential Seminar at PondicherryDetails will be hosted in www.sircoficai.org

11May 30, 2018Wednesday

05.30 p.m. to 07.30 p.m.

“SAVE to be SAFE” - Investor Awareness ProgrammeDetails at Page No.6 No Delegate Fee 2

12May 31, 2018

Thursday04.30 p.m. to 08.30 p.m.

“GST Practice” - A Practical CPE Meeting on GST UpdatesDetails at Page No.9 826 4

13 June – August 2018 CPE Study Circle Series on Income Tax and Companies ActDetails will be hosted in www.sircoficai.org

14June 1 & 2, 8 & 9

Fridays & Saturdays10.00 a.m. to 05.30 p.m.

Four Day Advanced GST Seminar Details will be hosted in www.sircoficai.org

15June 8 & 9, 2018

Friday & Saturday09.30 a.m. to 05.30 p.m.

Sub-Regional Conference of SIRC of ICAIHosted by Coimbatore Branch of SIRC

Details will be hosted in www.coimbatoreicai.org

16June 15 & 16, 2018Friday & Saturday

10.00 a.m. to 05.30 p.m.

Metro Conference at Taj Coromandel, Nungambakkam, Chennai-34.Details will be hosted in www.sircoficai.org 2950 12

17June 22, 2018

Friday09.30 a.m. to 5.00 p.m.

50th Sub-Regional Conference of SIRC of ICAIHosted by Ernakulam Branch of SIRC

Details will be hosted in www.kochiicai.org

18July 4 & 5, 2018

Wednesday & Thursday09.00 a.m. to 05.30 p.m.

Sub-Regional Conference of SIRC of ICAIHosted by Tirupati Branch of SIRC

Details at Page No.62360 12

19August 31 & September 1, 2018, Friday & Saturday09.30 a.m. to 05.30 p.m.

Golden Jubilee Regional Conference of SIRC of ICAI at HyderabadDetails will be hosted in www.sircoficai.org

Registration for CPE Programmes only through Online Portal www.sircoficai.org through DashboardPLEASE AVOID SPOt REgIStRAtIOn, OffLInE REgIStRAtIOn AnD CASh PAymEntS.

For further details, please contact SIRC of ICAI, 'ICAI Bhawan', No. 122, Mahatma Gandhi Road, Nungambakkam, Chennai - 600034.

Phone: 044-30210323/362/381; Fax: 044-30210355; Email: sirc@icai.in

Venue for all the Programmes, unless specified otherwise, is ICAI Bhawan, Chennai.

Contact: Dr. T. Paramasivan, Joint Director (Tech.), ICAI – Phone: 044 – 30210321 – E-mail: tparamasivan@icai.in

SIRCNewsletterMay 2018 4

Chairman,s Communique... Continues

Yours in Professional Service

CA. Adusumilli Venkateswara RaoChairman, SIRC of ICAI

Workshops

We had organized Series No. 10 of the Workshop on GST and the response has constantly been encouraging which prompts us to continue to hold the series on GST. The next Three Day Workshop on GST, jointly with the CPE Committee of the Institute, is scheduled to be held at SIRC Premises between May 17th and 19th, 2018. I request members to join and make it yet another successful one. We also had a Five Day Workshop on “ABC of Income-tax” which attracted not only younger members but also the senior members of the profession. SIRC, encouraged by its response, is conducting two more Workshops on “FEMA” during 3-5th May 2018 and on “ICDS” between May 21-25, 2018. Please enroll in these programmes in large numbers and get benefitted.

Sub-Regional Conferences

During 8th and 9th June, 2018 SIRC will be conducting its Sub Regional Conference hosted by Coimbatore Branch jointly with Branches of SIRC of Tamilnadu. On June 22, 2018 SIRC will be registering a milestone in the annals of SIRC when we conduct the 50th Sub-Regional Conference at Kochi hosted by Ernakulam Branch of SIRC. We are also organizing the Sub-Regional Conference at Tirupati on 4th and 5th July, 2018 hosted by Tirupati Branch of SIRC, details of which have been published elsewhere in this Newsletter. The detailed information about other Sub Regional Conferences will be hosted in the SIRC Website and published in the next month’s SIRC Newsletter. SIRC looks forward to your participation in all these Conferences. We are planning few more Regional Seminars in other parts of the Region and I will be glad to share with you in my next communication.

Members have well received other programmes conducted at SIRC such as Study Circle Meetings on Ind ASs, Breakfast meeting on GST – Eway Bill, Prevention and Prohibition of Money Laundering and Benami Transactions. Similarly we have lined up informative, educative and enriching programmes on Audit under GST, Four day Advanced Seminar on GST, etc. We seek your valuable patronage for the success of these programmes.

Metro Conference at Chennai

The next edition of the SIRC’s prestigious Metro Conference has been scheduled on 15th and 16th June, 2018 at Chennai with nationally renowned experts from various parts of the Country who would address on contemporary professional issues. Plan your visit to Chennai and participate with our professional friends.

Memorial Lectures

SIRC is conducting the Ashok Kumbhat Memorial Lecture on the evening of 16th May 2018 to be delivered by Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India. Our beloved CA. T.N. Manoharan, Past President of the Institute and presently the Chairman, Canara Bank has kindly consented to preside. This Lecture is being held in memory and recognition of services rendered to our profession by Mr. Ashok Kumbhat, Past President of ICAI (1983-84) and Past Chairman of SIRC (1972-73). The programme details are given in one of the following pages. I invite members to attend the programme in large numbers. SIRC will be holding other Memorial Lectures which are the annual features of activities in the coming months and SIRC would keep you informed of such programmes.

National Seminar on Internal Audit

The Continuing Professional Education Committee and the Internal Audit Standards Board of ICAI is organizing a National Seminar on Internal Audit on 14th May 2018 at SIRC Premises. This full day programme, hosted by SIRC, will have four technical sessions on the various concept of Internal Audit to be dealt by eminent resource persons. The details are published elsewhere in this Newsletter. I solicit members to come forward to register early and make the seminar a remarkable success.

Golden Jubilee (50th) Regional Conference of SIRC

As has been communicated to you in my previous communiqué, SIRC is organizing a Two Day Golden Jubilee (50th) Regional Conference at Hyderabad on 31st August and 1st September 2018. I am glad and also fortunate that during this year SIRC is witnessing two Golden Jubilee Programmes, one, the 50th Sub-Regional Conference at Kochi and the other, Golden Jubilee (50th) Regional Conference of SIRC.

I take pleasure and privilege in extending my personal invitation and that of SIRC to each one of you to participate and be part of this momentous occasion. SIRC has geared up its preparation in right earnest for organizing this Conference in a mammoth scale considering the significance of this Golden Jubilee Conference. Your support is very vital to ensure our aim and ambition.

The Conference Committee is working on these lines keeping in mind the importance attached to it and setting up various Sub-Committees to co-ordinate every aspect in the successful conduct of the Conference. The Conference Committee is identifying the topics and the expert resource persons to provide you the feast of knowledge and the comfortable arrangements for the delegates to enjoy the two day conference. I once again take pleasure in extending our hearty and warm welcome to the Conference and enjoy the proceedings of the technical sessions, camaraderie and networkingopportunities.

Remember the dates – August 31, 2018 and September 1, 2018

BLOCK IN YOUR DIARY

The success of the any programme is measured not only based on the content and resource persons but also the presence of members in large numbers. Members have been extending their best support in all our endeavours and this legacy, I am confident, would continue forever.

Chartered Accountants Benevolent Fund

I solicit the contribution from members to the Chartered Accountants Benevolent Fund and look forward to their munificent financial support. I would appeal to you to make the contribution when you are remitting your annual membership fee. Details of members who are contributing Rs. 1 lakh and above are being exhibited in the SIRC premises and has been hosted in the website of the SIRC at http://sircoficai.org/CABF.aspx

Career Counseling Programmes

Future of our profession lies, inter alia, on the steady enrolment of deserving candidates in our CA Course. To take the details of our CA course to our young citizens, we are planning to roll out large number of Career Counseling Programmes at High School and Collegiate levels for which we need the services of our members who could address the young minds on the features and prospects of CA course. We invite the interested members, to associate in the Career Counseling Programmes, as Career Counselors to enrol through online portal at http://cccicai.in/faculty-registration-2/

Bank Audit

Before I conclude this communication I would like to record our appreciation to the members for effectively completed the Bank Audit in time. Hearty congratulations to everyone from SIRC of ICAI.

It is nice to interact with you through this column and I look forward to receiving your valuable response and suggestions on the activities of SIRC and contents of SIRC Newsletter for taking it forward.

Let me invoke the following saying before signing off for this communiqué.

“If everyone is moving forward together, then success takes care of itself.” - Henry Ford

Let us move on together for a brighter future professional career and knowledge assimilation.

SIRCNewsletterMay 2018 5

Direct TaxesContributed by: CA. V.K. Subramani, Erode vks111164@gmail.com

Corporate LawsContributed by:

Dr. P.T. Giridharan, Joint Director, ICAI, Chennai giridharan@icai.in

FeMAContributed by: CA. G. Murali Krishna, Hyderabad gmk@sbsandco.com

Banking and InsuranceContributed by:

CA. P.S. Narasimhan, Chennai jandsca@gmail.com

SEBIContributed by: CA. VMV. Subba Rao, Nellore vmvsr@rediffmail.com

Goods and Services TaxContributed by:

CA. G. Saravana Kumar, Madurai casaravanan.82@gmail.com

Karnataka State GSTContributed by: CA. Annapurna D. Kabra, Bengaluruannapurna@dnsconsulting.net

Kerala VATContributed by:

CA. C. Seshadri Nadan, Vadakkencherry seshadrinadan@icai.org

Tamil Nadu VATContributed by: CA. V.V. Sampath Kumar, Chennai vvsampat@yahoo.com

Telangana VATContributed by:

CA. Satish Saraf, Hyderabad satish.saraf@icai.org

Income Tax updatesSupreme Court, High Court and Tribunal JudgementsCA. Ambati Chinna Gangaiah, Hyderabad agcpower@icai.org

The online link for UPDATeS:http://www.sircoficai.org/Professional-Updates.aspx

UPDATeS Scan QR Code & Read Workshop on Goods & Services Tax (GST)

CPE Credit

18 Hours

Organised by CPE Committee of ICAIHosted by SIRC of ICAI

Day & Date: Thursday to Saturday, 17th to 19th May 2018 Time: 10.00 am - 05.30 pm

Venue: P. Brahmayya Memorial Hall, ICAI Bhawan, Chennai-600 034.

Day Topics

DAY

117

-05-

2018

Introduction to Programme

GST - Overview and Levy

Provisions relating to Scope of Supply

Provisions relating to Time of Supply

Provisions relating to Place of Supply

Provisions relating to Value of Supply

DAY

218

-05-

2018 Input Tax Credit

Exports under GST

Returns under GST Law

GST on Job Work

DAY

319

-05-

2018

GST - Refunds and Inverted duty structure

Composition Scheme under GST Law

Latest Developments in GST.

Registration under GST Law

Records prescribed under GST Law

E-way bill

DeLeGATe Fee: Members - Rs. 2950/- ; Students - Rs. 2065/-; Non Members - Rs. 4130/-

Online Registration: www.sircoficai.orgCA. Adusumilli

Venkateswara RaoChairman, SIRC of ICAI

CA. K. SripriyaChairperson,

CPE Committee, ICAI

CA. China Masthan Talakayala

Secretary, SIRC of ICAI

SIRC of ICAI proudly presentsNational Seminar on Internal Audit

Jointly Organised by CPE Committee of ICAI and Internal Audit Standards Board of ICAI

CPE Credit

6 Hours

Conference Theme: KNOW RISK. KNOW ReWARD

Date: Monday, 14th May 2018 Time: 10.00 a.m to 05.30 p.m.

Venue: P. Brahmayya Memorial Hall, ICAI Bhawan, Chennai-600 034.

Sl. Topics Speakers

1 Inaugural and Key Note Address by Chief Guest

Ms. Sally Clark – Global Head , Internal Audit, Barclays

2Click & Mortar – Case Studies and Experiences in an Internal Auditors Journey across different industry spectrums

T. V. Venkatraman,Vice President and Head of Internal Audit, Ashok Leyland Limited

3 Imperatives of Emerging Technologies in Today’s Audit World

CA. Vittalraj R.Practising CA

4 Risk Based Internal Audit – Concept to Completion

CA. Bhavani JoisVP & Head of IA , Infosys

5 Fraud Prevention & Forensic Auditing – the need of the hour

CA. Viswanadh KuchiPractising CA

Delegate Fee:Members : Rs. 708/- (Inclusive of 18% GST)

Non-Members: Rs. 1062/- (Inclusive of 18% GST)

Link to register: http://www.sircoficai.org/CPEDetailsnew.aspx?id=578

SIRCNewsletterMay 2018 6

The Chairman and Members ofThe Southern India Regional Council of

The Institute of Chartered Accountants of IndiaThe Trustees of

Ashok Kumbhat Memorial Trust andPresident and Managing Committee members of

The Society of Auditorscordially invite you for the

Ashok kumbhAt memoriAl lectureon Wednesday the 16th May 2018 at 06:30 p.m.

at P. Brahmayya Memorial Hall “ICAI Bhawan”, 122 Mahatma Gandhi Road

Nungambakkam, Chennai - 600 034Dr. Soumya Kanti Ghosh

Group Chief Economic Advisor, State Bank of India has kindly consented to deliver the Memorial Lecture on

“India – The Next 10 Years”CA. T.N. Manoharan

Past President, The Institute of Chartered Accountants of India, Chairman, Canara Bank

presides All Are Welcome

CA. S. Ramakrishnan President, The Society of Auditors

Shri. Ajit Kumbhat Trustee, Ashok Kumbhat Memorial Trust

CA. Adusumilli Venkateswara Rao Chairman, SIRC

CA. China Masthan Talakayala Secretary, SIRC of ICAI

High Tea : 06:00 p.m.

SOUTHERN INDIA REGIONAL COUNCIL OFTHE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA‘ICAI BHAWAN’, NO.122, MAHATMA GANDHI ROAD, NUNGAMBAkkAM, CHENNAI – 600034

67th ANNUAL GeNeRAL MeeTING OF

SIRC OF ICAI

NOTICeNotice is hereby given that the Sixty Seventh Annual General Meeting of the Members of the Southern India Regional Council of the Institute of Chartered Accountants of India will be held on Friday, 6th July 2018 at 11.00 am at the P. Brahmayya Memorial Hall at ICAI Bhawan, No. 122 Mahatma Gandhi Road, Nungambakkam, Chennai – 600034 to transact the following agenda:

1. To receive the Annual Report of the Regional Council for the year ended 31st March 2018;

2. To receive the Audited Financial Statements of the Regional Council for the year ended 31st March 2018 together with the Auditor’s Report thereon; and

3. To transact any other business that may be brought before the meeting including any resolution(s) received and/or any resolutions that may be received from the member(s) subject to the fulfillment of conditions under Regulations 150 & 151 of the CA Regulations, 1988 with the permission of the Chair.

By Order of theSouthern India Regional Council of ICAI

Place: ChennaiDate: 19.04.2018

Sd/-CA. China Masthan Talakayala

Secretary, SIRC of ICAINote: The Annual Report of SIRC for the period (2017-18), Financial Statements, Schedules forming part of the Financial Statements and Notes to Accounts, have been hosted in the website www.sircoficai.org and displayed on the Notice Board at the Office of the Southern India Regional Council of the Institute of Chartered Accountants of India. All these details will be sent by e-mail to the Members of SIRC of ICAI as per the details available with the Institute. Members desirous to have hard copy of the full version of these statements etc. may please send an e–mail to kirubakartl@icai.in along with their Name, ICAI Membership Number and latest complete postal address to enable SIRC office to do the needful.

SAVE to be SAFEINVESTOR AWARENESS PROGRAMME

CPE Credit

2 Hours

Under the aegis of Ministry of Corporate AffairsOrganised by

Committee of Financial Markets & Investors Protection of SIRC of ICAIJointly With Hindustan Chamber of Commerce

Day & Date: Wednesday, 30th May 2018 Time: 05:30 p.m. to 07:30 p.m.

Venue: P.Brahmayya Memorial Hall, ICAI Bhawan, Chennai-600 034.Special Address: Sri Sridhar Pamarthi*, ROC Chennai

Topics Speaker

Life Cover vs. Returns CA. A. K. Narayan,Investment Advisor, Chennai

Need for Pension Funds Sri V. Nagappan,Investment Analyst, Chennai

Legal Protection for Investors

CA. S. Sathiyanarayanan,Advocate, Chennai

Fixed Deposits vs. Mutual Funds

Sri S. Haresh,Regional Head, ICICI Pru Asset Management

FRDI Bill – Bail-in as an enabler for Investor

CA. Gopal Krishna RajuChennai

*confirmation awaited

No Delegate FeeCA. Adusumilli

Venkateswara RaoChairman, SIRC of ICAI

CA. Gopal Krishna RajuRCM, SIRC of ICAI

Programme Coordinator

CA. China Masthan Talakayala

Secretary, SIRC of ICAI

Good law SUB-REGIONAL CONFERENCE 2018

CPE Credit

12 Hours

Hosted by TIRUPATI BRANCH of SIRC of ICAIDay & Date: Wednesday & Thursday, July 4th & 5th, 2018

Time: 09.00 a.m. to 05.30 p.m.

Venue: Mahathi Auditorium, Alipiri Road, Tirupati. Schedule Topics Speakers

Wednesday, 4th July 2018First Technical

SessionDevelopment Agreements- Issues in Income Tax

CA.T. Banusekar, Chennai

Second Technical Session Pvt Ltd Companies – Do’s & Don’ts CA. Chinnswamy Ganesan,

Chennai

Third Technical Session

GST- Works Contracts & Real Estate Sector

Adv. K.Vaitheeswaran, Chennai

Thursday, 5th July 2018

Fourth Technical Session ICDS –Major Practical Issues CA. K. K. Chaitanya,

BangaloreFifth Technical

SessionGST- Impact on Financial Statements

CA. Prasanna Krishnan, Chennai

Sixth Technical Session LLPs- Practical Issues CA. V. Ramanath,

Coimbatore

Delegate Fees Rs.2360/-(2000/- + 18% GST).Please pay through NeFT/Cheque in favour of “Tirupati Branch of SIRC of ICAI” ,

State Bank of India, Balaji Colony, C.A/c No. 64096986549, IFS Code: SBIN0040375 Tirumala Darshan – Optional at extra cost

For further details, please contact Tirupati Branch of SIRC, Phone: 0877 – 2231308, 2260122, email: tirupathi@icai.org

CA.K. Manohar Naidu Chairman,

Tirupati Branch of SIRC

Dr. CA. e. Phalguna Kumar

Programme Director

CA.V. MuraliVice Chairman/Secretary,

Tirupati Branch of SIRC

CA. Adusumilli Venkateswara RaoChairman, SIRC of ICAI

CA. China Masthan TalakayalaSecretary, SIRC of ICAI

SIRCNewsletterMay 2018 7

STANDING COMMITTEES

Executive CommitteeCA. Adusumilli Venkateswara Rao Hyderabad ChairmanCA. Jomon K. George Kochi Vice ChairmanCA. China Masthan Talakayala Hyderabad SecretaryCA. Babu K Thevar Bengaluru TreasurerCA. M. P. Vijay Kumar Chennai Member

Career Counselling CommitteeCA. Jalapathi K. Coimbatore ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. Madhukar Narayan Hiregange Bengaluru MemberCA. Abhishek Murali Chennai MemberCA. Babu K. Thevar Bengaluru MemberCA. Gopal Krishna Raju Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. Lakshmana Rao Hyderabad CooptedCA. Petchi T. Chennai CooptedCA. Selvin Gnanaraj J. Tuticorin CooptedCA. Udayaravi C. Yeligar Dharwad Coopted

Continuing Professional Education CommitteeCA. Hemavathi Ramachandran Chennai ChairmanCA. Jomon K .George Kochi MemberCA. Sripriya K. (Ms.) Chennai MemberCA. Abhishek Murali Chennai MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. D. Ramesh Hyderabad CooptedCA. Halappanavar Bengaluru CooptedCA. S. Aneetha Chennai CooptedCA. Senthil Sivakumar R. Chennai Coopted

Professional Development CommitteeCA. Phalguna Kumar E. Tirupati ChairmanCA. Jomon K. George Kochi MemberCA. M. Devaraja Reddy Hyderabad MemberCA. China Masthan Talakayala Hyderabad MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Manavalan V. P. Chennai CooptedCA. N. Sathyamoorty Chennai CooptedCA. Balasubramanian M. Dindigul CooptedCA. Kolli Srinivasa Rao Hyderabad Coopted

Public Relations CommitteeCA. Abhishek Murali Chennai ChairmanCA. Adusumilli Venkateswara Rao Hyderabad ChairmanCA. Babu Abraham Kallivayalil Kochi MemberCA. Babu K. Thevar Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Panna Raj S. Bengaluru MemberCA. Phalguna Kumar E. Tirupati MemberCA. Kandasami M. Chennai CooptedCA. Sathiyanarayanan K. R. Chennai CooptedCA. Thavamani T. Madurai CooptedCA. Vegunta Sai Roop Kumar Hyderabad Coopted

Students CommitteeCA. Panna Raj S. Bengaluru ChairmanCA. Jomon K. George Kochi MemberCA. M. P. Vijay Kumar Chennai MemberCA. Sripriya K. (Ms.) Chennai MemberCA. Babu K. Thevar Bengaluru MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Gopal Krishna Raju Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Kuthalingam K. T. Hosur CooptedCA. Macha Rao Hyderabad CooptedCA. Sivakumar R. Chennai CooptedCA. Venkata Ramana Reddy N. Patancheru Coopted

NON STANDING COMMITTEES

Branch Coordination CommitteeCA. Jomon K. George Kochi ChairmanCA. Madhukar Narayan Hiregange Bengaluru MemberCA. Babu K. Thevar Bengaluru MemberCA. China Masthan Talakayala Hyderabad MemberCA. Dungar Chand U. Jain Madurai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Phalguna Kumar E. Tirupati MemberCA. Ritesh Mittal Hyderabad MemberCA. Gayathri Jayan Kochi CooptedCA. Jayanth Uppuluri L. K. Vijayawada CooptedCA. Ligil Lakshman Ernakulam CooptedCA. Satish Kumar Hyderabad Coopted

Committee for Capacity Building of CA Firms and SMPsCA. China Masthan Talakayala Hyderabad ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. G. Sekar Chennai MemberCA. Babu K. Thevar Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Gopal Krishna Raju Chennai MemberCA. Phalguna Kumar E. Tirupati MemberCA. Ritesh Mittal Hyderabad MemberCA. Bharath Vijay P. V. Chennai CooptedCA. Raja Sekhar Reddy Hyderabad CooptedCA. Sivachalam N. Tirupur CooptedCA. Sunil Kumar Jain P. Chennai Coopted

Committee for Members in IndustryCA. Dungar Chand U. Jain Madurai ChairmanCA. Jomon K. George Kochi MemberCA. M. Devaraja Reddy Hyderabad MemberCA. Abhishek Murali Chennai MemberCA. China Masthan Talakayala Hyderabad MemberCA. Jalapathi K. Coimbatore MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. Kolla Purnachandra Rao Hyderabad CooptedCA. Ravi Chennai CooptedCA. Sudhakara Reddy Visakhapatnam CooptedCA. Suresh T. G. Chennai Coopted

SOUTHERN INDIA REGIONAL COUNCIL OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIACOMPOSITION OF COMMITTEES FOR THE YEAR 2018 - 2019

SIRCNewsletterMay 2018 8

Committee on Banking, Insurance & PensionCA. Ritesh Mittal Hyderabad ChairmanCA. Jomon K. George Kochi MemberCA. G. Sekar Chennai MemberCA. Abhishek Murali Chennai MemberCA. Babu K. Thevar Bengaluru MemberCA. Gopal Krishna Raju Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Phalguna Kumar E. Tirupati MemberCA. Anil Kumar Bhandari Bengaluru CooptedCA. Prabhakar P. S. Chennai CooptedCA. Thomas K. Kottayam CooptedCA. K. Sreenivasan Secunderabad Coopted

Committee on Corporate & Allied Laws and Corporate GovernanceCA. Ritesh Mittal Hyderabad ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. M. P. Vijay Kumar Chennai MemberCA. China Masthan Talakayala Hyderabad MemberCA. Gopal Krishna Raju Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Panna Raj S. Bengaluru MemberCA. Phalguna Kumar E. Tirupati MemberCA. Ashwin E. S. Calicut CooptedCA. N. Sukumar Chennai CooptedCA. Patil Channabasappa Nagaraj Belgaum CooptedCA. A. Srihari Rao Hyderabad Coopted

Committee on Direct TaxesCA. Abhishek Murali Chennai ChairmanCA. Jomon K. George Kochi MemberCA. G. Sekar Chennai MemberCA. Babu K. Thevar Bengaluru MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Ramdev Bhutada Hyderabad CooptedCA. Shobha Karthikeyan K Chennai CooptedCA. Srinivas P. Hyderabad CooptedCA. Subbarayudu P. Vijayawada Coopted

Committee on Financial Markets & Investors' ProtectionCA. Gopal Krishna Raju Chennai ChairmanCA. Jomon K. George Kochi MemberCA. Sripriya K. (Ms.) Chennai MemberCA. Abhishek Murali Chennai MemberCA. China Masthan Talakayala Hyderabad MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Phalguna Kumar E. Tirupati MemberCA. Narayanan V. Chennai CooptedCA. Nitin S. Hiremath Belgaum CooptedCA. Vijay J. Reddy Chennai CooptedCA. Kanigalpula Veera Brahmum Guntur Coopted

Committee on Indirect TaxesCA. Gopal Krishna Raju Chennai ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. Madhukar Narayan Hiregange Bengaluru MemberCA. Babu K. Thevar Bengaluru MemberCA. China Masthan Talakayala Hyderabad MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Phalguna Kumar E. Tirupati MemberCA. Sangu Ramakrishna Visakhapatnam CooptedCA. Puranik Raghavendra Padmanabh Bengaluru CooptedCA. Saiprasad M. Nirmal CooptedCA. Krishna Chaitanya Janga Hyderabad Coopted

Committee on International TaxationCA. Cotha S. Srinivas Bengaluru ChairmanCA. Jomon K. George Kochi MemberCA. Sripriya K. (Ms.) Chennai MemberCA. Abhishek Murali Chennai MemberCA. Gopal Krishna Raju Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Phalguna Kumar E. Tirupati MemberCA. Ritesh Mittal Hyderabad MemberCA. S. Divya Chennai CooptedCA. Viswanathan P. Coimbatore CooptedCA. Hemanth Kumar K. Hyderabad CooptedCA. Padmanabhan S. Trivandrum. Coopted

Committee on Public Finance, Government Accounting & Accounting Standards for Local Bodies

CA. Babu K. Thevar Bengaluru ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. G. Sekar Chennai MemberCA. Gopal Krishna Raju Chennai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. Chinnasamy Ganesan Chennai CooptedCA. Govindarajan N. R. Chennai CooptedCA. Kamacis M. Madurai CooptedCA. Sai Siva Srinivas Gurazada Secunderabad Coopted

Editorial BoardCA. Adusumilli Venkateswara Rao Hyderabad EditorCA. Jomon K. George Kochi MemberCA. Babu K. Thevar Bengaluru MemberCA. China Masthan Talakayala Hyderabad MemberCA. Babu Abraham Kallivayalil Kochi MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Charles F. Virudhunagar CooptedCA. Thota Karunakar Warangal CooptedCA. Venkata Sri Lalitha Sundari Visakhapatnam CooptedCA. Nageswara Rao G. Hyderabad Coopted

GMCS Coordination CommitteeCA. Jomon K. George Kochi ChairmanCA. Sripriya K. (Ms.) Chennai MemberCA. Abhishek Murali Chennai MemberCA. China Masthan Talakayala Hyderabad MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Gopal Krishna Raju Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Phalguna Kumar E. Tirupati MemberCA. John Morris Chennai CooptedCA. Kota NR Anil Sagar Hyderabad CooptedCA. V. Ramasamy Tirunelveli CooptedCA. Venkat Narayan Vedantam Rajahmundry Coopted

SIRCNewsletterMay 2018 9

Information Technology & Digital Transformation CommitteeCA. Dungar Chand U. Jain Madurai ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. M. P. Vijay Kumar Chennai MemberCA. Abhishek Murali Chennai MemberCA. China Masthan Talakayala Hyderabad MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Hemavathi Ramachandran Chennai MemberCA. Ritesh Mittal Hyderabad MemberCA. Rajesh Kannan S. Tirupur CooptedCA. Uppalapati Saran Kumar Hyderabad CooptedCA. Venkata Ramana Nizamabad CooptedCA. Venugopal G. Bengaluru Coopted

Internal Audit CommitteeCA. Phalguna Kumar E. Tirupati ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. Babu Abraham Kallivayalil Kochi MemberCA. Abhishek Murali Chennai MemberCA. Dungar Chand U. Jain Madurai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. Chalam A. V. Vishakapatnam CooptedCA. Narra Seshagiri Rao Hyderabad CooptedCA. R. Vittal Raj Chennai CooptedCA. Santhosh Kumar M. K. Erode Coopted

Library CommitteeCA. Babu K. Thevar Bengaluru ChairmanCA. Jomon K. George Kochi MemberCA. Babu Abraham Kallivayalil Kochi MemberCA. Abhishek Murali Chennai MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Gopal Krishna Raju Chennai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Anand Kumar G. Karimnagar CooptedCA. Govardhan Reddy P. Hyderabad CooptedCA. Prakash Chand S. Bengaluru CooptedCA. Venkatesh Reddy T. Tirupati Coopted

Member Services CommitteeCA. China Masthan Talakayala Hyderabad ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. M. Devaraja Reddy Hyderabad MemberCA. Cotha S. Srinivas Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Gopal Krishna Raju Chennai MemberCA. Jalapathi K. Coimbatore MemberCA. Ritesh Mittal Hyderabad MemberCA. Leelakrishna Murthy Alla Guntur CooptedCA. Manobin M. D. Bengaluru CooptedCA. Sambamurthi P. Hyderabad CooptedCA.Venkata Ramana Badarinath N. Hyderabad Coopted

SIRC Programme Photos and other photographs for the Month of April

2018 can be viewed in Photo Gallery of SIRC website www.sircoficai.org

The online link for photos is http://sircoficai.org/programme-

photos-april-2018.aspx

GST PracticeA Practical CPE Meeting on GST updates

CPE Credit

4 Hours

Organised by Indirect Taxes Committee of SIRC of ICAIDate: 31st May 2018 Time: 4.30 p.m. to 8.30 p.m.Venue: P. Brahmayya Memorial Hall, ICAI Bhawan, Chennai-600 034.

Topics Speaker• Refunds–PracticalIssues&

Solutions CA. Prasanna Krishnan, Chennai

• Export&ImportofServices Adv. K. Vaitheeswaran, ChennaiPanel Lead : CA. Gopal Krishna Raju,

Chairman, Indirect Taxes Committee of SIRC of ICAIDinner : 8:30 p.m.

Delegate Fee: Rs. 826/- (Inclusive of 18% GST)Registration through online at www.sircoficai.org

CA. Adusumilli Venkateswara Rao

Chairman, SIRC of ICAI

CA. Gopal Krishna RajuRCM, SIRC of ICAI

Programme Coordinator

CA. China Masthan Talakayala

Secretary, SIRC of ICAI

GST UPDATION REqUEST IN SIRC WEBSITEMembers are requested to register their GST Registration Number in the SIRC Dashboard at SIRC website www.sircoficai.org and download Tax invoice for ITC. Chairman, SIRC of ICAI

SIRC GST NumberMembers and Stake holders are requested to make note of

SIRC GST Number to claim Input Tax Credit.SIRC GST No. 33AAAAT7798M2ZP

Research Committee & Exposure Drafts CommitteeCA. Cotha S. Srinivas Bengaluru ChairmanCA. Adusumilli Venkateswara Rao Hyderabad MemberCA. Madhukar Narayan Hiregange Bengaluru MemberCA. Dungar Chand U. Jain Madurai MemberCA. Gopal Krishna Raju Chennai MemberCA. Hemavathi Ramachandran Chennai MemberCA. Panna Raj S. Bengaluru MemberCA. Ritesh Mittal Hyderabad MemberCA. Chandra Sekhar Akula Visakhapatnam CooptedCA. Razee Moideen Ernakulam. CooptedCA. Subashini S. Chennai CooptedCA. Murali Krishnamurthy Ch G. Hyderabad Coopted

SICASACA. Panna Raj S. Bengaluru ChairmanCA. M. Devaraja Reddy Hyderabad MemberCA. Jalapathi K. Coimbatore Member

SIRCNewsletterMay 2018 10

One day workshop on Excel Productivity Tips

CPE Credit

6 Hours

Under the aegis ofInformation Technology & Digital Transformation Committee of SIRC of ICAI

Venue: ITT Lab, SIRC Premises, Chennai

Day & Date: Saturday, May 12, 2018 Time: 10.00 a.m. to 05.00 p.m.

Session Coverage Speakers• Relative, Absolute & mixed references, Names• Functions-IF,VlOOKUP,VLOOKUP+Match,

DATEDIF etc.,• Nestedfunctions• Powerfunctions-COUNTIFs,SUMIFs• CreationofFormulaeandrisks• ArrayFormula• DataTables&PivotTablesetc.,

•CA.DeepakKumarA.•CA. Dungar Chand U Jain•CA.VinayChordiaA.

Restricted to 40 participants on first come first served basis.

DeLeGATe Fee: (inclusive of 18% GST), Members : Rs. 1180/-,Non-Member : Rs. 1770/-, Student : Rs. 944/-

Registration through online at www.sircoficai.orgCA. Adusumilli

Venkateswara RaoChairman, SIRC of ICAI

CA. Dungar Chand U Jain

Programme Director

CA. China Masthan Talakayala

Secretary, SIRC of ICAI

Report / Information Card (as on 30th April 2018)

CABFContributions

April Cumulative (Since 01.01.2018)

Rs. 3,94,907/- Rs. 22,59,217/-Dash BoardRegistrations

Members Students Total

55,317 10,582 65,899

Pending Issues Members & Firms Students TotalChennai DCO 75 1311 1386Hyderadad DCO 36 305 341

No. of Members (in Southern Region)

Practice Service Total

25,405 29,606 55,011

CPEHours

April Cumulative(Since 01.01.2018)

85 369

No. of Members (in Southern Region)

Male Female Total

42,707 12,304 55,011

Happy Retired LifeMr. RajendRan and Mr. K.VijayaRangan

m r. R a j e n d r a n joined the Institute on 08.02.1982 as LDC. He was promoted up to the level of Assistant Secretary on 01/07/2009. He has served around 36 years.

mr. K.Vijayarangan joined the Institute on 21.12.1983 as LDC. He was promoted up to the level of Assistant Secretary on 21/12/2012. He has served around 34 years.

SIRC wishes both of them a Happy Retired Life and Best wishes for their future endeavours.

ATTENTION ANDHRA PRADESH AND TELANGANA

MEMBERS, FIRMS AND STUDENTSHyderabad DCO is fully functional since January 2017, All activities like Students /Members Registrations and Firms Constitution and Re-Constitution are taking place at Hyderabad DCO for AP and TS states.

AP and TS Members and students are requested to utilise this facility and submit all the forms relating to Members , Students and Firms activity to Hyderabad DCO which is functioning at Centre of Excellence Premises. All of your Queries relating to Members, Students and Firms will be addressed by Hyderabad DCO.

All Member /Students Registrations / payment of fees are on line, in case of any payment through Cheque /DD it should be in favour of “Secretary, ICAI – Payable at Hyderabad”

For your easy reference, Hyderabad DCO contact details are given below.

The Institute of Chartered Accountants of India, ICAI Bhawan Hyderabad DCO, Plot No. 10 & 11, Financial District, Nanakramguda, Gachibowli, Hyderabad – 500 032 Ph: 040 – 39893989 email: hyderabaddco@icai.orgIn case of any specific grievance in the following domains you can contact the below mentioned officials:

Department Name of the Official Mobile No. email id

Help Desk Mr. M. Srinivas Reddy 9502182265 srinivas.reddy@icai.in

Members Mr. V.PalaniswamyMrs. Srujana

94456037077993519447

vps@icai.insrujana@icai.in

Firms Mrs. Uma Suresh 7993027982 uma.suresh@icai.in

Students & Articles

Mr. RamkumarMr. Naveen Goli

98404819399515419837

ramkumar@icai.innaveen.goli@icai.in

The SIRC/ICAI does not accept any responsibility for the views expressed in different contributions / advertisements published in this Newsletter.

DISCLAImER

Committee Meetings / Other Meetings of SIRC - April 2018Date Details of the Meeting Chairman / Headed by

16.04.2018 17.04.2018

& 19.04.2018

127th Executive Committee Meeting of SIRC of ICAI

CA. Adusumilli Venkateswara Rao

17.04.2018 Regional Audit Committee Meeting

CA. Babu Abraham Kallivayalil

18.04.2018 231st Regional Council Meeting of SIRC of ICAI

CA. Adusumilli Venkateswara Rao

OBITuARYS.No. MRN Name Status Place Date of

Demise1 001327 JACOB K U FCA KOCHI 22-10-2017

2 006949 DOKANIA BISHWA NATH FCA BENGALURU 01-01-2018

3 008415 GIRIRAJ KALANTRI FCA SECUNDERABAD 11-01-2018

4 010789 GANAPATHI K N FCA BENGALURU 06-02-2018

5 018398 JAIN JITENDRA KUMAR FCA SECUNDERABAD 22-02-2018

6 021075 NARENDRA J R FCA BENGALURU 05-02-2018

7 023773 HEGDE N PRAKASH FCA KARKALA 30-03-2018

8 023788 KRISHNAN G FCA CHENNAI 26-03-2018

May the Almighty Architect of the Universe rest the souls in peace.

11

2

Dear Professional Colleagues,

Chairman,s Communique...

Greetings from SIRC: SIRC wishes Happy Birthday and Happy Anniversary to all those Members and Students who were born or who got married in the month of May.

Continued at Page no. 4

When this issue is in your hands, I would have completed 75 days in office as Chairman of SIRC. It has been an interesting and invigorating journey for me having met the members across the Region either during my visits to the Branches or during my participation in programmes where members across the Region had attended in such programmes organized by SIRC and some of the Branches in the last 75 days. The months ahead will witness many such programmes to be organized by us and it will give me further opportunities to closely come together with our professional fraternity. Past and the FutureIn this bright future you can’t forget your past. - Bob MarleyMy communication through this column last time sharing the “Happy Memories” was as a result of my perception about the “Past and the Future”. I am happy that it evoked very encouraging feedback from the members. This time, yet another nostalgic moments I would like to share this month. When ICAI was established on 1st July 1949, the total number of members was 1573 all over India. To-day we have more than 2.70 lakh members. Sharing of nostalgic moments would one way be of interest to know particularly for the younger generation and that is why I intend to continue my sharing on this aspect.

When I am writing this communication today the 1st May, I recall an important occasion in the history of SIRC. It is on this day in the year 1952, SIRC (then called Madras Regional Council of ICAI) held its first meeting chaired by the First Chairman of SIRC Mr. R.N. Rajam Aiyar. At this meeting Mr. C.S. Sastry was unanimously elected as Chairman of the Regional Council. Mr. C.S.Sastry went on to become the First President of ICAI from the Southern Region. The other office-bearer selected at the meeting were –• Mr. R. Venkatesan, Vice-Chairman (who later became the Third President of ICAI)• Mr. V. Soundararajan, Secretary (who later became the Central Council Member of ICAI between 1958-1964)• Miss R. Sivabhogam, Treasurer (who became the Chairperson of SIRC between 1955-1958 and had the unique distinction of having been

elected as Chairperson consecutively for three years)They and the successive Chairmen and Members of SIRC have laid a strong foundation. We do recognize and remember that the foundation always stays stronger which facilitates us and we are trying to build it further in the service of the profession.

Members and Students Services

SIRC is well-known for its effective administrative mechanism and we at the helm of affairs have been constantly monitoring and improving the standards to serve the members and students of our Region. We have a robust Website to disseminate the information of various programmes and a hassle free system for online registration for all our programmes. I, at this point, take this opportunity to thank the members and students for supporting our technological initiative from the conventional registration to that of online registration.

SIRC Website contains several features whereby the members can access the information such as:

• Details of CPE Programmes and Registration through Dash Board• DownloadtheproceedingsofprogrammesorganizedbySIRC• ViewtheRecordedandLiveWebcasts• Facility to display advertisements inviting for articled assistants and

Paid Assistants as also for positions in organizations as is permissible

• ProfessionalUpdates• FacilitytodownloadvariousformsprescribedbyCARegulations• ResourcesavailableintheSIRCLibrary• GrievanceCellthroughe-Sahaayata• Registrationfacilityforstudentsforattendingclasses,etc.

Besides we have a dedicated team of Officers and Staff in the administrative set up to realize the best outcome in all the activities of SIRC. This pro-active step being taken by SIRC is apart from the services offered by ICAI through its Website. I solicit the continued support in making our vision of paper-less transaction achieved and request the members and students to extensively utilize the facilities made available to them.Past and Future Programmes

Regional Residential SeminarsThe month of May would always experience heat waves across the country and the onset had already started from mid April itself this year. SIRC would however make it a pleasant month by organizing numerous programmes, including that of Regional Residential Seminars at cool elevatedareas.LastmonthSIRCconductedtheRegionalResidentialSeminaratYercaudbetween27thand29thhostedjointlybySalemandErode Branches of SIRC. It was well received by the members.SIRC would be holding few more Regional Residential Seminars in the months ahead and the details would be published in the Newsletter and also hosted in SIRC Website. It has been planned to organize these seminars at hill resorts and similar such places. Having been fully pre-occupied in your professional assignment, especially on Bank Audit last month, here is an opportunity for you to refresh yourself and get energized both physically as well as add value addition to your professional skills by attending these Residential Seminars. SIRC invites you to participate in large numbers.

The Institute of Chartered Accountants of India Continuing Professional Education (CPE) Committee

Initiatives of CPE Committee during the year 2018-19

Samadhan: a CPE – QnA e-Solution Forum:https://www.cpeicai.org/cpe-qna/

My CPE – Programs of your choice:https://goo.gl/kNDfE1

Quick Feed back for CPE Programmes:https://cpeapp.icai.org/quickFeedback

Detailed Feed back for CPE Programmes:https://cpeapp.icai.org/member/login

Chairman & Vice-Chairman Continuing Professional Education Committee, ICAI

A-29, Sector - 62, Noida - 201309 (Uttar Pradesh)Ph. 011-30110474, 0120-3045957/981 Email: cpeadmin@icai.in

12

Price K5 May 2018 |  Volume 43  •  Part 11

1

Published and Printed by Dr. P.T. Giridharan, Joint Director on behalf of Southern India Regional Council of the Institute of Chartered Accountants of India, 'ICAI Bhawan', # 122, Mahatma Gandhi Road, Nungambakkam, Chennai -600034. Phone: 044 39893989, 30210320. Email: sro@icai.in / sirc@icai.in. Website: www.sircoficai.org - Printed at M/s. Chennai Micro Print (P) Ltd., # 130, Nelson Manickam Road, Aminjikarai, Chennai - 600029. Editor: CA. Adusumilli Venkateswara Rao, Chairman, SIRC of ICAI.

Group Photograph of the delegates along with their family members at the 11th Regional Residential Seminar at Yercaud held from 27th to 29th April 2018.

SIRC Chairman CA. Adusumilli Venkateswara Rao is being presented with a Fruit Bouquet by SICASA Chairman-Salem Branch CA. A.V. Arun. CA. R. Krishnan, Treasurer-Salem Branch, RCM CA. Gopal Krishna Raju, CCM CA. G. Sekar, Salem Branch Chairman CA. S. Sureshkumar,

Erode Branch Chairman CA. D. Krishnasami are also seen

ICAI Vice President CA. Prafulla Premsukh Chhajed addressing during the launch of Samadhan-A CPE Q and A – E Solution Forum on 23rd April 2018 at Chennai. CCM-Eastern Region CA. Sushil Kumar Goyal, Past President ICAI CA. Amarjit Chopra, CCM-Western Region

CA. Mangesh Pandurang Kinare, CCM-Southern Region & CPE Committee Chairperson CA. K. Sripriya are also seen.

Speakers of CPE Meeting on Forex Transaction in Banking 12th March 2018

CPE Meeting on Money Laundering & Benami Transactions - 25th April 2018

Workshop on ABC of Income Tax – April 2018CPE Series on Ind AS – April 2018

Some of the Speakers of Workshop on Basics of GST – March & April 2018

Speakers of Seminar on Central Statutory Audit of Banks – 10th March 2018

CPE Meeting on NFRA and ICAI DC Mechanism 21st April 2018

Speakers of Investor Awareness Programme – 26th March 2018

Speakers of Bank Branch Audit 21st March 2018

Launch of Samadhan – CPE Q and A – E Solution Forum – 23rd April 2018

CA. T. G. Sukumaran, CA. T. R. Chandrasekaran and Ms. J. Lalitha, Chief Manager & Faculty, Baroda Academy, Bank of Baroda, Chennai.

CA. V. Prasanna Krishnan

CA. Ganesh Prabhu

CA. V.V. Sampath Kumar

CA. G. Sriram

CA. V. SankaranarayananCA. J. Murali

CA. J. Purushothaman

CA. Harini Sridharan

CA. Vijay Anand P

CA. K. Sivarajan

CA. Punit Shah

CA. R. Subramanian

CA. Sai Mukundan

CA. Chinnsamy Ganesan Coordinator

CA. T.G. Suresh Coordinator

CA. Dayaniwas SharmaCA. K. Ravi, Past Chairman, SIRC

CA. Gopal Krishna Raju RCM

CA. S. Pattabhiraman

CA. G. Sitharaman, Past President, ICAI

CA. P. Selvamoorthy

CA. M. P. Vijay Kumar, CCM, ICAI

CA. N. Ramesh

CA. K. Sripriya, CCM, ICAI

CA. M. Ravindra VIkram

CA. V. Nagappan

CA. D. Premnath

CA. R. Vittal Raj

CA. K. R. Suresh

Shri Vivek Karwa

CA. Udhay Sathe

CA. Anil Kumar Kheecha

Posted at Egmore RMS/(Patrikka Channel)Date of Publication : 2nd of every month Registered - RNI Reg. No. 28192/1975 - RNP Registered No. TN/CH(C)327/18-20Date of posting : 7th May 2018 WPP No. TN/PMG(CCR)/WPP-354/2018-20

11th Regional Residential Seminar at Yercaud – 27th to 29th April 2018