OCTOBER VIDWAN

OCTOBER 2020|VOL VIII

A CA STUDENTS’ E-NEWSLETTER BY WICASA OF KALYAN-DOMBIVLI
BRANCH OF WIRC OF ICAI

BE SAFE ENJOY FESTIVALS

WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

WICASA COMMITTEE

CA Kaushik Gada Vipinkumar Kanojia Tejashree Patole Vishal Jain
WICASA Chairman Vice Chairman Secretary Treasurer

Shweta Nerurkar Sailee Subhedar Pooja Sharma Riddhi Nagda Harsh Kukreja
Co-opted Member
Committee Member Committee Member Committee Member Committee Member
(Chairperson Social (Chairperson Event (Chairperson (Chairperson
Media) Management )
Student Relationship E- Newsletter &
Cell) Compliance)

Chief Editor
CA Kaushik Gada

Editorial Team
Riddhi Nagda
Sailee Subhedar

Vishal Jain
Shweta Nerurkar

WICASA KALYAN DOMBIVLI
“BUNCH OF INNOVATORS AND ENTHUSIASTS”

FOLLOW US ON

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

INDEX

Particulars Page No

From Chairman’s Desk……………….………………………………………………………….3
From WICASA Chairman’s Desk…..………………………….……………………………….4
From Editorial Board……………..……………………………………………….……………...5
CA Examination Preparation Tips………...……………………………………….…………...6
Understanding The Basic Meaning And Concept Of Money Laundering……………..11
Aatmanirbhar Bharat Swatantra Bharat……………………………………………………...13
Talent Trails.…………………………………………………………………………………......16
Words From Recent Chartered Accountants ……………………………………...…….…..20
Recent Events & Webinars ……….…………………………………………………………....21
Wall Of Gratitude ………...……….…………………………………………………………....24
————————————————————————————————————–———
To share your Ideas, Thoughts, Contents, Articles and to have your Achievements to be

featured in our coming editions
Kindly Mail us at : [email protected]
Or Reach us on : 81082 60743 / 97681 36416 / 96194 30550

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

From Branch Chairman’s Desk

Dear Students,
Greetings from Kalyan Dombivli Branch!
Hope you are all well prepared to write for your Foundation, Inter
& CA Final Exams. Dear students, ICAI has taken great efforts in
conducting this exams and have also increased the number of
exam centres to maintain social distancing. Also the hall tickets are
out and very soon you all will be appearing for your examinations.
Just a piece of advice for your examinations. Kindly take utmost
care of your health in this crucial time. Have a positive and
systematic approach & the 3 hours of exam are very much
important, be confident while writing your exams and give your best efforts. I extend my
best wishes to all of you and I am very sure you will clear with flying colours.
Before signing off, would like to remember a quote by Shiv Khera
Your positive action combined with positive thinking results in success
BE THE GAME CHANGERS
Best wishes for your exams, Good Luck..
Stay Healthy and Best wishes,
Yours in Professional service and Always with all of you,

CA Ankit R. Agarwal
Chairman

Kalyan Dombivli Branch of WIRC of ICAI

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

From The WICASA Chairman’s Desk

WICASA Chairman Ke Dil ki Baat….

My dear friends, we have entered the second half of the financial
year…

The season of due dates have started and this year 2020, has been a
very unique year in all sense. All the due dates have been extended
to help the professionals and tax payers to meet the compliances
with ease. Also, with the due dates comes the festivals like
Navratri, Diwali and many more to come.

This month Navratri festival was very peaceful and people had to
confine themselves to their homes only. But the spirit of the festival
was alive and vibrant.

After so many speculations, finally ICAI has announced that the exams will be as per the
revised schedule i.e, from 21st November 2020. This will give a lot of clarity and
confidence to many students, who were worried about their attempts.

Last month we had a very unique session on Graphology and How to face the theory
paper. It was a very useful session for the students, as they got to know how the
handwriting can help in examinations.

My suggestion to all the students to take the best advantage of the current situation and
utilize the time to upskill themselves and appear for the exams with lots of confidence
and peace. This last 6-7 months was a once in a life time opportunity for everyone. So,
those appearing for the exams, stay focused and am sure, this attempt will your best one.
Also, this Diwali, you all will be planning to do shopping and spend on material items.
That’s good, however, I recommend, start saving and investing (atleast 10-20%), a part of
your shopping budget. This way you will start your journey for wealth creation.

Wishing all the students appearing for the November attempt, all the Very Best.

Wishing you a happy reading and a healthy and safe days ahead.

Yours in Service…

CA. Kaushik Gada
WICASA Chairman
Kalyan Dombivli Branch of WIRC of ICAI

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

From Editorial Board

Greetings Vidwan,
Everyone must be relieved that finally hall tickets are out and exams are happening, this
is very crucial time for us as we are just few days away from exams. We wish you luck
and make sure you work very very hard.
In this month we had webinar on two topics one was graphology, in which our mentor
Urja Shah beautifully explained how using handwriting and signature you can change
your mind set and how to be stress free and on the other hand we had webinar on how to
attempt CA exam and secure exemption in which CA Tejas Shah explained each and
every thing about the exams, right from how to approach towards each subject to how to
study during exams he explained each and everything in detail and even shared few
tricks.
As our exams are heading we are coming up with an amazing series for all of our
budding Chartered Accountants. In this series, one of the best faculties will share with
you how to approach a particular subject during exams. Also, we are going to post MCQs
on instagram every day, so make sure you test yourself by giving answers. Hope all of
you take maximum benefit out of this.
We, the team WICASA wishes you a very very Happy Diwali in advance.
“Let's fill our homes with prayers and lights, not with fumes and crackers. Green is the
New Black. Have an eco-friendly Diwali.”

Editorial Board of E Newsletter
WICASA of Kalyan Dombivli Branch of WIRC of ICAI

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

CA Examination Preparation Tips

Few common tips that you can apply during your CA exams and you are
sure to score good :

Study from Study Material (Module) is must

The study material would help you to develop a strong
conceptual base. They give you the parameters within
which you have to study. Make it a habit of going
through them thoroughly as these will enable to
understand the basic concepts of the subjects and
develop your ability in understanding different
concepts and applications.

Practice hard &everything is important

The more you practice, the better engraved will be
the concepts in your mind. Don’t indulge in
selective reading; no part of the syllabus is less
important and leaving any portion could be fatal.

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Love your subjects & know yourself

Be familiar with your learning style. Everyone learns in
different ways. If you know your own learning style, then
you have the capability to observe others. Discuss
alternatives with friends or with fellow students you
might be surprised at what you find out. Armed with
these insights, challenge yourself to try some new tricks.
Once you understand the style in which you most
effectively learn, you will experience the most enjoyable
and welcome feeling that of being in control.

Refrain from recreation & Be Equipped

A careful survey of the syllabus and study material
contents will enable the student to size up, on a rough
basis, the total magnitude of study task to be completed
within the allocated time for each subject with a
compulsory provision for adequate revision, two or three
times, before the examination. Though all exam
preparation usually leaves a little scope of entertainment
like reading books or chatting with friends, CA literally
cannot afford that. Hence to belong to the success category
you got to make these minimal sacrifice.

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Planning & Implementation of your time table

1. Make goals: long/medium and short term and stick to them.
2. Make a time table depending upon your aptitude and the time available.
3. Maintain a strict regimen of study.
4. Understanding the fundamental concepts is more important than making
notes.
5. Cut out disturbing factors like T V, Internet, mobile phones etc while
studying, use them only to refresh yourself for Max 1 hr a day
6. Take short break after each hour of study.

Have a hunger for conceptual knowledge while reading &
Revise like a boss

It is very important to study the reading materials at least 3 to 4
times. This would include:
First Reading
This will be more like a novel reading to gain overview;
Second Reading
This will be in-depth study where concepts emerge; and
Third Reading
This will be very intensive reading to fully understand the concept
and to underline important points to be revised on examination
day

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Be familiar with ICAI BOS Knowledge portal &
Students Journal

Make it a habit of visiting the Board of Studies Knowledge Portal.
It contains all the educational inputs of the Board of Studies like
latest study materials, Suggested Answers, RTPs,
supplementary study materials, notifications etc. It also contains
announcements like relevant list of publications, Accounting
Standards and Standards on Auditing etc. applicable for the
examination. The Students’ Journal is another form of
disseminating important information as it provides quality articles
and academic updates that will help you in professional growth.

Review of RTP & Writing of Mock papers is must

Try to arrange mock examination test on your own. Give
yourself time to read through the questions before you start
working out how much time you can allocate to each one. And
set the same strict time limit for the whole paper, from start to
finish, as the original examination allowed. It is hoped that this
practice will do wonders in the preparation for your actual
examination. You can also write the mock tests conducted by the
various branches of the institute which would help you to
simulate the examination conditions and further the marks
awarded would help you to gauge your preparation for the
examinations.

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Following points deserve a special mention:
1. Avoid coming late for the examination.
2. Relax before the examination; mind works well when it is in a relaxed state.
3. Attempt those questions first which you are confident about.
4. Budget your time wisely; utilise the 15 minutes reading time to the fullest advantage to
prepare mentally as to the strategy to be followed in attempting the paper; reserve at
least last 15 minutes for revision purposes.
5. Give working notes to each practical question properly.
6. Give your assumptions wherever necessary.
7. Be precise and to the point and do not indulge in unnecessary details.
8. While answering questions involving application of law/standards etc, briefly state the
facts, the legal position, your analysis backed up with case laws, if any and your
conclusion.
9. Write legibly; avoid spelling mistakes and grammatical errors.
10. The tendency of giving long answers to short answered questions and vice-versa
should be avoided.
11. Make sure, as far as possible, that your answers are reasonably complete and
comprehensive, that you have met all the requirements and tied up all loose ends and
there are no irrelevant discussions and details.
12. Adopt a blend of conceptual, professional and practical approach to attempt the
questions and problems.

ALL THE BEST DEAR CA STUDENTS
STUDENTS SUCCESS.....MY SATISFACTION

Prof. CA Tejas Dilip Shah
(CS, LL.B., NET, CMA-FINAL, M.com)

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Understanding The Basic Meaning And
Concept Of Money Laundering

Let us start this article by understanding some basic terminologies;

What is Illegal money?

By the term illegal money we can
understand the money which has been
obtained from doing illegal activities
( proceeds of crime ) like Murder, Extortion,
Bribery, Drug trafficking, Kidnapping etc.
The process of converting such proceeds of
crime into legal and white money is known
as money laundering. Illegal money can also
be referred as dirty money which can easily
be clean by applying various tactics of
money laundering.

In India, there is a law made for preventing such activities of money laundering known
as Prevention of money laundering Act, 2002. This law is enforced by Enforcement
Directorate in India.

Money laundering has an adverse effect on economy. It can erode the nation’s wealth by
fluctuating the demand and supply of cash, making interest and exchange rate more
volatile.

Money laundering involves three distinct process , namely

1). Placement : This is the very first stage in which the proceeds of crime is injected into
the formal financial system.

2). Layering : In the second stage, the money which is injected in the financial system is
spread or moved over the various transactions in different accounts and different
countries, thereby it becomes difficult to trace the source and origin of money.

3). Integration : In the last stage, money enters the financial system in such a way that
original association with the crime is sought to be obliterated so that the money can then
be used by the offender or person receiving as clean money.

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

There are various methods of laundering illegal money;
1. Creating Shell and Bogus companies.
2. Investing in Real estate i.e. Buying a land for a money and then selling it making the

profits legal by paying tax on such profit.
3. Cash smuggling, transferring money to Swiss bank.
4. Hawala transactions.
If left, unchecked money laundering can destroy the nation’s economy via changing the
demand and supply of cash. It also affects the interest rate, exchange rates by making it
volatile.

Pushp Kumar Sahu
CRO0553317

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Aatmanirbhar Bharat
Swatantra Bharat

India at 75: Nation Marching towards Aatmanirbhar Bharat.

‘Don’t depend too much on anyone in this world because even your own shadow leaves
you when you are in darkness’, this quote fits best in today’s world where self reliance
has become the key to success whether it’s about person or nation. Although the world is
on the verse of globalization ,the trade between nations has become the integral part of
the nation’s economy but the fact can’t be denied that aatmanirbhar or to depend on
ourselves will always overlap the globalization. In the time of emergency, all you need is
your self reliance.
Aatmanirbhar means that a person or a country should not depend on others in life, one
should be able to proceed in his/her life without others' support, then only a person or
nation can function smoothly .The Aatmanirbhar Bharat has become the rapidly growing
campaign in our nation majorly in the corona period when India realised it should focus
on the production of goods and services in its own country with minimal import from
other countries and increasing its export share.
The comprehensive plan titled ‘Strategy for new India @ 75' was released by the union
finance minister. In its detailed exposition it covers forty one crucial areas recognising the
progress already made, identifying any limitations and suggesting the way forward for
achieving the clearly stated objectives. Laying down a multi pronged strategy to promote
India’s overall development, the plan aims to register an annual growth rate of 9 percent
by 2022-23, this would be essential for generating sufficient growth and achieving
prosperity for all.
India will complete 75 years of its independence in 2022 and that’s why the plan is named
as ‘India at 75’ .This scheme is the crucial step towards making our economy strong and
for the better growth of our country. From this scheme, there is no need to depend on

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

other countries for India to import products.

Furthermore, it will help India in increasing its export share rather than import share. As
part of the Aatmanirbhar Bharat package, numerous government decisions have taken
place such as changing the definition of MSMEs, boosting scope for private participation
in numerous sectors , increasing FDI in the defence sector, and the vision has found
support in many sectors such as the solar manufacturers sector.

‘Make In India’ approach can be one way to make our country aatmanirbhar. This
campaign was launched by the Government of India on 25 September 2014 to encourage
companies to manufacture their products in India itself. The major objectives behind the
‘Make In India’ initiative are to make our country self- reliant in the field of
manufacturing, job creation and skill enhancement in 25 sectors of the economy.

The Aatmanirbhar Bharat campaign
will lead to many innovation in the
country as the country is moving
towards production of goods and
services in our own country. As we
know, after the country felt strong
need for manufacturing of masks
and ventilators, it has started to
manufacture masks and ventilators
in its own country. Before the
pandemic, we were unable to
manufacture Indian made masks and
ventilators due to lack of technology
and resources but the pandemic has
brought innovation in the country
and now we are leading manufacturer and we need not import masks and ventilators
from other countries. As the whole world is filled with anger against china ,the
companies are shifting from China to India in large number. This will lead to cheap
products in the country and the rising of many new companies in the country. All these
measures will help India in achieving target of ‘India at 75’.

As per the policies of World Trade organisation, any nation can not ban complete trade
with other nation and that’s why the Indian government can not ban the import of goods
and services from other countries. Although it can do minimal trade with other
countries . Recently the Indian railway has rejected the lowest bid by China on Indian
railway tender and handover the project to the company of India even though the cost
was slightly more than the bid made by other countries because it will boost the economy
and Indian companies.

So in the same manner we have to realise that we buy our Indian products more and
more even though it can be slightly costlier than imported products but it will help boost
our country’s economy and ultimately the beneficiary will be ourselves only as it will

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

lead to less tax burden on us, more development of the country, better infrastructure and
strong economic policies.
At the conclusion, India at 75 scheme will boost our country and Aatmanirbhar Bharat
campaign will play important role in achieving the target.
Thanking you!!

Harshit Chanduka
WRO0664928

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Talent Trails

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Krunal Mehta
WRO0639190

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

A Dream..

In the depths of mind's ocean,
Lives a marvellous dream..

Trying to reach the shores of reality,
Hope you listen it's scream..
A dream, a goal, a true desire,
By whatever name you call..

It will ignite the lost fire within you,
And will help you rise above all..
It's the essence of your presence,
It's the reason you are alive..
For the burning thirst of years,
It's water, for which you strive..

Ketaki Sanjay Bhopatkar
WRO0571914

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

The Mystery

Reaching there I have peace,
Every work is done with ease ,
No one is there to disturb a miss,
Silence is present without any tease .

It is a place reducing strain and stress,
Everything looks fine with no mess ,

Negativity evaporates like a gas ,
All this it really has.

There is a door and window sill,
Relief from headache requires no pill,

Positivity is automatically filled,
Excuse vanishes i.e being ill.

This is what all I feel ,
Now the mystery is revealed ,

Hold your breath here ,
'Library' is were it mere....

Hetal Naresh Bhanushali
WRO0522631

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Words From Recent Chartered
Accountants

TWO SUCCESS MANTRAS FOR ME WERE:

1. Proper Planning-
"FAILING TO PLAN IS PLANNING TO FAIL" - This proverb
played very important role in my success to clear exams in First
attempt. I got 3.5 months of study leave and biggest challenge in
front of me was to do atleast 2 revisions and also appear for mock
exams. This was made possible by doing proper planning for every
revision. Making Plans and schedules helps to complete the
syllabus in timely manner.

2. Paper Solving-
Solving past attempt papers, RTP, mock papers boost your
confidence and we can also get to know where are we going wrong
and we can correct that mistake before appearing for final exams.
As making mistakes here would not make any difference in your
final result but making same mistakes in final exam could cost you
an attempt. So paper solving is must before appearing for final
exams.

"FAILURES ARE STEPPING STONES TO SUCCESS" - Failures are
not the end to any road. Even If you get an attempt learn from the
mistakes that you did in past and make sure to not to repeat them.
If you succeed in not repeating your mistakes then no one can stop
you from getting those two previous letters CA as a prefix to your
name.
I wish all the very best to all the Future
CA's.

CA JAY SHAH

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Recent Events And Webinars

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

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WICASA Kalyan-Dombivli E-Newsletter: October 2020
VIDWAN: A CA Students’ Newsletter (Vol - VIII)

Wall Of Gratitude

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