The Chamber News

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 27th September 2007, as also some of the important future events, are as hereunder-

CTC DELHI CHAPTER

We have pleasure in informing all our CTC members that a new chapter, “CTC – Delhi Chapter” has started functioning at New Delhi. The following is the list of the office bearers.

Mr. V. P. Verma, Chairman
Mr. A. K. Srivastava
Mr. R. S. Ahuja, Secretary
Mr. Gurmeet S. Grewal, Treasurer
Mr. Vivek Varma, Jt. Secretary
Mr. Rajesh Jain

The CTC members in and around Delhi (Noida, Gurgaon, Faridabad, and nearby Regions) are requested to get in touch with the above office bearers for the future programmes at New Delhi. For contact details please refer to CITC News October, 2007.

1. Admission of new members

The following are the new members who were admitted in the Managing Council Meeting held on September 27, 2007.

1	Life Members
	1	Shri Phadke Kishor Bhalchandra. (Ordinary to Life)	Ca
	2	Shri Singrodia Shivratan Mangelal	CA
	3	Shri Pednekar Ashutosh Arvind	Ca
	4	Shri Patel Bhaskarbhai Bhikhabhai. (Ordinary to Life)	Adv
	5	Shri Mehta Dipesh Pravin	Itp
2	Ordinary Members
	1	Shri Shah Manish Sobhagchand	Ca
	2	Shri Saraf Sanjeev Murari	Ca
	3	Mrs. Naruekar Renu Shrikant	Ca
	4	Shri Thakkar Deepak Harishchandra	Ca
	5	Shri Pathak Hari Das

2. Past Events:

1. Study Circle Meeting:

Study Circle & Study Group Committee organized a Study Circle meeting on “Fringe Benefit Tax (FBT)” on September 7, 2007. The meeting was chaired by Shri Keshav Bhujle, Adv. and was lead by CA Vishal Gada. The said meeting was in continuation of the earlier meeting held on August 7, 2007 and was very well attended.

2. Indirect Tax Study Circle Meeting:

Indirect Taxes Committee organized a Study Circle meeting on “CENVAT Credit Show Cause Notices – Overview of Appeals & Revisions Service Tax Audit,” Shri Shailesh Sheth Advocate, spoke on the subject at CTC Conference room on September 6,2007. The meeting was well attended.

3. Seminar on TAX AUDIT:

Direct Taxes Committee organized a Half Day Seminar on “TAX AUDITS” on 28th September, 2007, at Homi Talayarkhan Hall. CA Hemendra Shah, CA Harish Motiwala, and CA Nihar Jambusaria addressed the members on various recent amendments in Tax Audit. The Seminar was grand success and was attended by around 115 members.

3. Forthcoming Events

1. Seminar on “LARGE TAX PAYERS UNIT SCHEME:

A half day Seminar on the subject “LARGE TAX PAYERS UNIT SCHEME” is being scheduled to be held on October 12, 2007 organised jointly by Law & Representation Committee and Allied Laws Committee along with IT Department, Excise, Customs and Service Tax Department, BCAS, WIRC of ICAI, AIFTP and IMC. The seminar will cover the information as to how and eligible unit will be able to reap benefits by opting for the LTU Scheme and the issues relating to Customs, Excise and Service Tax will be addressed effectively. The Seminar will be held at Walchand Hirachand Hall, IMC from 9.00 a.m. to 12.00 noon. All are cordially invited to attend the Seminar.

2. Indirect Tax Study Circle Meeting;

(For Indirect Tax Study Circle Members Only)

The next 2 meetings of the Study Circle for the year 2007-08 has been organized by Indirect Taxes Committee as detailed hereunder :

1)	Day & Date	:	Friday, November 02, 2007
	Subject	:	CENVAT Credit for Service Providers –  Some Issues
	Chairman	:	CA Bakul B. Mody
	Speaker	:	CA Vishal Agrawal
2)	Day & Date	:	Tuesday, December 04, 2007
	Subject	:	Service Tax on Rent and Works Contract – Some Issues
	Chairman	:	To be decided
	Speaker	:	CA Sanjeev Saraf

Both the above meetings will be held at SNDT Committee Room, SNDT Women’s University, New Marine Lines, Mumbai-20

3. Orientation Course on International Taxation:

(For Orientation Course Members Only)

The Orientation Course on International Taxation will be held on Monday, November 5, 2007 on the Subject Article 5 – Concept of Permanent Establishment”. The course will be addressed by CA Radhakishan Rawal.

4. Study Circle & Study Group Meetings:

(For Study Circle/Study Group Members Only)

A)	The next meeting of Study Circle for the year 2007-08 will be held as under:
	Day & Date :	Tuesday, November 20, 2007
	Subject :	a) Issues in Computation of Property Income
		b) Property Income vs. Business Income – Some Controversies
	Group Leader :	CA Sanjay Parikh
B)	The next meeting of Study Group will be held as under:
	Day & Date :	Thursday, November 22, 2007
	Subject :	Recent Judgments under Direct Taxes
	Group Leader	CA Kishor Karia

5. Lecture Meeting on Recent Developments in Provisions Related to Tax Deducted at Source :

With a view to update the members on the recent developments in provisions related to Tax Deducted at Source , the Direct Taxes Committee is pleased to announce a Lecture Meeting on the subject “RECENT DEVELOPMENTS IN PROVISIONS RELATED TO TAX DEDUCTED AT SOURCE”. The details are as under:

Day, Date & Time	:	Tuesday, 27th November, 2007; 6.15 p.m. to 8.00 p.m.
Speaker	:	CA. Rajan R. Vora
Venue	:	Babubhai Chinai Hall, 2nd Floor, IMC, Churchgate

6. 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.The detailed programme is under compilation and shall be intimated shortly.

7. Boat Cruise:

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.

For more details refer to CITC News of October 2007 issue.

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-hours course spanning over 6 – 7 weeks scheduled as under:

Tuesday – 2 hours (6.30 pm – 8.30 pm)
Saturday – 4 hours (9.30 am – 1.45 pm)
Tentative Schedule : 1st Saturday of January 2008 to 2nd/3rd week of February, 2008.
The venue, fees and registration details will be announced shortly.