Chetan Shah and Manoj Shah
Hon. Jt. Secretaries

Through this column, we communicate with you about, and keep you abreast with, the events and the happenings that take place at the CTC. The events that have taken place from the previous issue of the Income Tax Review up to 30th November, 2007 as also some of the important future events, are as hereunder –

1. Admission of new members

The following are the new members who were admitted in the Managing Council Meeting held on November 30, 2007.

A. LIFE MEMBER [DELHI CHAPTER]

1. Ms. Ranjana Roy Adv

B.  ASSOCIATE MEMBERS

1. Atlantis Inv. Advisors India Pvt. Ltd. (Type I – One Year)

2. Bgh Exim Limited (Type I – One Year)

3. Bhilai Engineering Corp. Ltd. (Type I – One Year)

4. Dcw Ltd. (Type I – One Year)

5. Enam Securities Pvt. Ltd. (Type Ii – Five Years)

6. Intas Pharmaceuticals Ltd. (Type I – One Year)

7. India Infoline Ltd (Type I – One Year)

8. Jm Finance Limited (Type I – One Year)

9. Jm Financial Services Pvt Ltd. (Type I – One Year)

10. Kalpataru Homes Ltd. (Type I – One Year)

11. Matrix Advisors (India) Pvt. Ltd. (Type I – One Year)

12. New Globe Logistik Pvt Ltd. (Type I – One Year)

13. Renaissance Jewellery Ltd. (Type ii – Five Years)

14. Sbi Capital Markets Ltd. (Type iii – Ten Years)

15. Shree Ashtavinayak Cine Vision Ltd. (Type I – One Year)

16. Sudarshan Securities Pvt. Ltd. (Type I – One Year)

C. Ordinary Members

1. Shri Bhagwat Samir S. Ca

2. Shri Burande Ramchandra D. Itp

3. Shri Desai Jayesh C. Ca

4. Shri Gandhi Dhirendra Ramniklal Itp

5. Shri Jain Naresh Tikamchand Ca

6. Shri Kaushal Kanchun Ca

7. Shri Karthikeyan K. S. Adv

8. Shri Mulye Girish V. Ca

9. Shri Shah Veeresh N. Ca

10. Shri Shetty Pradnya Narayan Ca

11. Shri Thakar Sanjay Chandrakant Adv

D. Ordinary Members [Delhi Chapter]

1. Shri Ahuja Ravinder Singh Ca

2. Shri Gupta Praveen Kumar Ca

3. Shri Gupta Ram Lal Ca

4. Shri Jain Chand Keshav Adv

5. Shri Jain Rohit Ca

6. Shri Jain Sunil Kr Ca

7. Shri Taparia Shyam Sunder Itp

8. Shri Madan Mukesh S. Ca

9. Shri Mittal Rajesh Ca

10. Shri Alal Gurbir Singh Ca

11. Shri Mathur Vijay Itp

12. Shri N. V. Raman Adv

13. Shri Maheshwari Manoj Adv

14. Shri Kandpal Girish Itp

15. Shri Bajaj Anil Ca

16. Shri Mathur C. S. Ca

17. Shri Bhasin Madan Mohan Ca

18. Shri Gupta Suresh Ca

19. Shri Agrawal Rajesh Ca

20. Shri Hitkari Dalip Singh Ca

21. Shri Aggarwal Rajesh Ca

22. Shri Goel Brij Kumar Ca

23. Shri Butani Virender. M. Ca

24. Shri Garg Roshanlal Ca

25. Shir Jain Navin Ca

26. Shri Jain Surendra Kumar Ca

27. Shri Jain Arun Ca

28. Shri Jain Pradeepkumar Ca

29. Shri Jain Rajeshkumar Ca

30. Shri Goyal Rajnish Adv

2. Study Circle & Study Group Meetings

A) Study Circle Meeting

The Study Circle meeting was held on November 20, 2007 on the subject a) Issues in Computation of Property Income and b) Property Income vs. Business Income – Some Controversies. The meeting was chaired by Shri Vipul Joshi, Advocate and was lead by CA Sanjay Parikh.

 B) Study Group Meeting

The Study Group meeting was held on November 22, 2007, where CA Kishor Karia discussed the Recent Judgments under Direct Taxes.

3. Lecture Meeting:

Lecture meeting on the subject "Recent Developments in Provisions related to Tax Deducted at Source" was held on 27th November, 2007. The meeting was addressed by CA. Rajan R. Vora and was well attended by the members.

3. Forthcoming Events

1. Amita Memorial Lecture

All members of the CTC are cordially invited to a Lecture Meeting organised under the auspicious of Amita Memorial Trust and jointly with BCAS.

Day, Date & Time : Thursday, 31st January, 2008; 6.15 p.m.

Venue : Walchand Hirachand Hall, IMC, Churchgate

Speaker : Shri Haribhai Kothari

Subject : To be decided.

2. 31st Residential Refresher Course – 7-10 February, 2008

The Enrolment for the 31st RRC is closed. We thank the members for their overwhelming response.

The Residential Refresher Course Committee is pleased to announce its 31st RRC at the invigorating cool climate and scenic beauty of MOUNT ABU, a hill station tucked away in a cozy corner of the Aravalli ranges in Rajasthan. Cradled in lush green rolling hills and surrounded by gentle valleys.

Subjects	Paper Writer
1. Accounting Standards vis-à-vis Taxation	CA. T.N. Manoharan
2. Case Studies in Taxation	Shri Neeraj Sheth, Advocate
3. Redevelopment of Properties – Taxation thereof	CA. Pradip Kapasi

Paper for Presentation (on Mutual Fund Industry)
Brains’ Trust (on Income Tax/Service Tax)

3. Indirect Tax Study Circle Meeting

The next meeting will be held as follows:

Day & Date : Thursday, January, 17, 2008
Subject      : Set-off & Other Recent Developments under Maharashtra Vat Laws
Chairman   : CA Deepak Thakkar;
Speaker     : Shri Kantilal P Jain, Advocate

4. Full Day Seminar on Shares & Securities

To update members on Shares & Securities, a Full day Seminar has been arranged by Direct Taxes Committee on Saturday, December 15, 2007 at M.C. Ghia Hall. For detailed programme, refer CITC NEWS of December 2007 or visit Chamber’s website www.citcindia.org

5. Making your junior staff and Cpt Articles – Ready to work for you – Groom them young

The Education Committee has designed a unique programme to kick start Article Clerks Career as Professional and to give edge and momentum to their Learning. Full day training session has been planned to explore the state of the art in understanding and behaviour of fresh article students. Details as to topics are as under:

1.	Inauguration	CA. Jayant Gokhale
2.	Introduction and Application to accounting & auditing standards	CA. Vipul Choksi
3.	Practical Aspects of Income Tax Returns, TDS Deduction etc.	CA. Nihar Jambusaria
4.	Introduction to service tax	CA. Sunil Gabhawalla
5.	Communication & interpersonal Skills, Office	CA. Atul Bheda

Day & Date : Tuesday, December 18, 2007

Timings : 9.30 a.m. to 5.00 p.m.

Venue : M. C. Ghia Hall, 18/20, K. Dubhash Marg, Fort, Mumbai – 400 001

6. Boat Cruise: The enrolment for the Boat Cruise is closed. We thank the members for their overwhelming response.

The RRC and PR Committee is pleased to announce a Boat Cruise on catamaran on Saturday, December 22, 2007 from 7 p.m. to 10 p.m.for the members with family across the chilled wind of winter over the Arabian Sea under the moonlight.

7. Orientation Course on International Taxation: (For Orientation Course Members only)

The next meeting will be held on Thursday, January 3, 2008 on the subject "Article 7 – Business Profits". The meeting will be lead by CA Yogesh Thar.

8. 2nd Service Tax Orientation Course

Service tax has become a very important source of revenue for the Government and an avenue of practice for the professionals. This course is designed to provide a thorough grounding on the law and practice of service tax through the medium of classroom type teaching by eminent faculty.

The course will equip its participants with the knowledge in the Law and Practice of Service Tax.

The course is a 36-hour course spanning over 6 – 7 weeks.

For detailed programme, refer CITC NEWS of December, 2007 or visit Chamber’s website www.citcindia.org

9. The Corporate Committee is planning to hold a Two Days Seminar on "Mergers & Acquisitions" on February 22nd and 23rd, 2008. Further details will be announced in the next CITC News.

10. Seminar on TDS has been organized by the Education Course Committee on March 15, 2008. Further details will be announced in the next CITC News.

11. Half Day Seminar on "Special Economic Zone" is organized by the Direct Taxes Committee on March 22, 2008. Further details will be announced in the next CITC News.