Dear Friends,

[The one who has no dependence, is clean, is able, and neutral, from whom fear has gone, who has completely given up all initiation (of actions), and who is My devotee is beloved to Me.]
New team of NIRC has completed almost 75 days in office. I am happy to note that we are slowly and steadily marching towards our mission i.e. providing better and best services to the members and students at large. Though there are many hindrances and difficulties but still we are determined to achieve our goal.

Activities of NIRC during the last month

During the last one month we have organized seminar on Foreign Trade Policy & FEMA, seminar on NGOs & Charitable Trust, Discussion on Cash Credit u/s 68 of the Income Tax Act and seminar on VAT & Labour Laws. The response from the members was overwhelming in these seminars and I hope they have benefited and updated their knowledge in their respective fields. In this regard I would like to invite the suggestions from the members about the improvement and further programmes which they would like NIRC to organize in the coming months. I would again like to retreat that your Team NIRC is committed for the services of members at large.

Forthcoming programmes

We are going to organize so many programmes during the month of May and June 2012 and in continuation of this, we are planning to organize regular seminars as well as residential programmes outside Delhi apart from other programmes. As you know every year on 1 st July we celebrate CA Day. To continue this practice, we are going to organize full day programme on 30th June, 2012 which not only involves the members at large but will also give an opportunity to their families to participate in the programmes. The details of the same will be found elsewhere in this newsletter. For the recreation of the members and/or their families 2-3 days residential programmes will also be organized. State level National Convention is also being planned in some of the major cities of North India. Besides this the seminar on Service Tax, Income Tax, Schedule 6 and TDS/TCS & E-filing of TDS/TCS returns will be organized.
I invite all the members to participate in large numbers and take benefit from the same.

Branch Orientation meet

We are thankful to our parent body i.e. ICAI for giving us the opportunity to organize a 2 days Residential Programme in the form of branch orientation meet. The programme was organized at beautiful resort of Timbertrail near Kalka. The managing committee members of almost all the branches participated in the programmes and shared their experiences for smooth running of branches of NIRC of ICAI. The atmosphere was congenial. Every member of the branches was relaxed and shared their thoughts in free and frank manner. Number of suggestions came out of the discussions which we are debating at the level of NIRC and planning out our next course of action for the implementation of the same.

GMCS Classes – A new vision of Board of Studies of ICAI

Our institute is keen to hone the skills of future Chartered Accountants i.e. the students who are undergoing training/articleship at present. As per the new initiative of BOS of ICAI, the GMCS is divided into two parts i.e. GMCS Part I and GMCS Part II. Now the students who are registering himself/herself for undergoing articleship on or after 1 st May, 2012 will be compulsorily required to undergo Part I of GMCS during the first twelve months of his/her training and Part II of GMCS during the 18-36 months of his/her articleship. Though there is slight increase in the fees also but it is endeavour of ICAI to improve the standard of services provided to the students. The aim is to attract the new faculties who are talented and like to work and join the hands with NIRC of ICAI for the benefit of students. The purpose of this GMCS Part I & Part II is to see that our students must be well equipped in every stage of profession whether with regard to communication skills or any other part as compared to other management courses like MBA etc.

All Study Group Membership

The membership of All Study Group is a facility provided by NIRC for the benefit of members wherein they can enroll by paying nominal fee for the whole year and avail the benefit of seminars organized by NIRC in whole of the financial year. We have received overwhelmed response from the members. I invite and request the members at large to come forward and join this group as it provides an opportunity for updation of their knowledge which is very useful while discharging their professional duties.

Research Group

The vision of NIRC Team to activate number of Research Groups and we have already activated NGO & Charitable Trust Study Group and VAT Study Group. We are also in the process of activating the other research groups. Members are again requested to come forward to render their services and expertise in various subjects for the cause of the Profession.

Mock Test

NIRC organized mock tests for IPCC and Final students appearing in May Examinations. The mock tests were organized on 11 th , 14 th and 17 th April, 2012 for IPCC students & on 19th , 21st , 24th and 28th April, 2012 for Final Examination. The response of the students was overwhelming and I hope the students might have benefited from the same. We thank the Board of Studies for the opportunity provided to the students for preparation of their examination.

Reading room for students at various places in Delhi

I invite the members at large to come out and suggest the convenient place where your NIRC can open the reading room for the benefit of students at large. I request all the members if they have some extra space or can suggest any space in all the four corners of Delhi, which can be taken on lease/or other arrangement and can be converted as reading room of NIRC of ICAI, please intimate us at the earliest. Their suggestions/steps would go a long way for the benefit of students. If any member is willing to give the space free of charge, we promise to felicitate the concerned member from the platform of NIRC. I would like to say this act of benevolence will go in a long way for the deserving students and will help them to achieve their goal to becoming good Chartered Accountants. The message through their act will be impacting on the minds of the students to go for a good moral cause for the benefit of the students.

Request for hostel facilities for students

There are many NGOs which are providing hostel facility for the different streams of the society. In this regard I invite the members at large and suggest the possible names of NGOs which can provide the hostel facility for CA students at the nominal cost.
I again call upon the members to contribute in the efforts of the NIRC in the best possible manner. More and more input of knowledge and proactive ideas are required to push up the momentum of knowledge sharing amongst the fellow members.

Build the bright future in keeping with our Institute’s motto ‘Ya esa suptesu Jagariti’ [Be awake and aware to reap the benefits].

[One’s own duty, devoid of merit, is better than the duty of another, well-done. Doing action enjoined according to one’s nature, one does not incur fault.]

Wish you a cool Summer Vacations.

“Jai Hind Jai ICAI”

With best regards,

May 09, 2012

New Delhi