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STUDENTS’ JOURNAL RAJKOT BRANCH OF WICASATurning the Potentials Into Actions
Enriching Knowledge, Building Potentials
{Website : www.rajkot-icai.orgEmail : [email protected] September - 2015
"ICAI Bhawan", Yogi Anand, 2nd Floor, Kasturba Road, Rajkot ‐ 360 001. Ph. 0281 ‐ 3053462
Dearest Students,
Dearest students,
A very warm gree�ng of upcoming Ganesh Mahotsav to all. Hope you all had a great
�me in the celebra�on of the Janmashtami and had a fun at the Colorful Melas of the
Rangilu Rajkot. However a�er enjoying this Janmashtami it’s �me to focus on our
exam prepara�ons also.
In the upcoming month of September, Rajkot Branch Of
WICASA has organized many Revisionary Lectures, Mock test
series, Mo�va�onal Seminars for the be�er and stress free
prepara�on of your upcoming exams as well as Study circle
mee�ng for your be�er development of prac�cal skills and
knowledge. All the expert facul�es Rajkot Branch Of WICASA is
always trying to be helpful to the students for expanding their
poten�als so we request all the students to take the maximum benefit of the same.
Rajkot Branch Of WICASA is serving the students of Rajkot since last 12 years. Every
�me we are trying our best to reach maximum number of students of the Rajkot by the
best means. We are even trying our best to provide a pla�orm for students to prove
their skills and s�ll will be con�nue serving students. I request all the students to take
the benefit of the “Rajkot ICAI app.“
Recently, Rajkot Branch of WICASA has successfully organized a school level Debate
Compe��on with the par�cipa�on of 15 Schools of Rajkot. The efforts put into by the
commerce students were also worth apprecia�ng. We are thankful to the students for
their par�cipa�on and Congratulate to the Winners. I hear�ly congratulate Rajkot
WICASA team for their great efforts, to make any events success.
All the best for your prepara�on for your Exams prepara�ons!
CA. Kalpesh Parekh
(Chairman)
FROM THE CHAIRMAN’S DESK
happy to help:)Read Page 2
Read Page 2
RAJKOT ICAI APP via this QR Code from Play Store.
Read Page 7-8
GLIMPSE OF PAST EVENTS
Read Page 5
Bitcoins – As an Investment option
2 STUDENTS’ JOURNAL - september 2015 Enriching Knowledge, Building Potentials
Not getting news letters or latest event updates?
Send your mail ids and phone numbers at [email protected]?
The Rajkot branch of WICASA is going to plan more and more Study Circle this year, so that every student can have an opportunity to come and speak on the stage and share their knowledge with others. All the students are requested to show their interest by
Contac�ng us.CA Kalpesh Parekh | 98984 64348
Yash Kakkad | 88667 43527 ([email protected])
Each and every committee member
is happy to help Post your queries and suggestions
also at [email protected]
happy to help:)
PLACEMENT CLASSIFIED
We are planning to
provide job opportunities
to Rajkot
CA Students through
the launch of
“PLACEMENT CLASSIFIED”
in newsletter. Interested
Professionals & Employers
of various fields may
contact for classifieds in
“PLACEMENT CLASSIFIED”
to Yash Kakkad
Vice Chairman (88667 43527)
All the students are hear�ly invited to give their ar�cles to us for newsle�er. They can share their valuable views over here. And best ar�cles will be sent to Na�onal level and that will be printed in All India Newsle�er. Mail us your ar�cle at: ar�[email protected]
invitation
DOWNLOAD
RAJKOT ICAI APP via this QR Code from Play Store.
1) Register yourself as Student by
providing WRO number.
Provide your required other 2)
details and get
registered for using this App.
Announcements
Revisionary Lectures for Final
3STUDENTS’ JOURNAL - september 2015Enriching Knowledge, Building Potentials
Intermediate (ipc) : Group-1th th12 oct. to 15 oct.
fees : single Group (rs. 200/-)
(FINAL) : Group-1th th12 oct. to 15 oct.
fees : single Group (rs. 200/-)
Intermediate (ipc) : Group-2th th
16 oct. to 18 oct.
fees : both Group (rs. 350/-)
(FINAL) : Group-2th th
16 oct. to 19 oct.
fees : both Group (rs. 350/-)
th th12 october to 18 october mock test series IINote:
Students are
required to
register
themselves
at Branch well
in advance
latest by
10th Oct.
Venue : Branch Premises Registration for each lecture will be open till 2 Days before date of lecture. spot registration shall be allowed if seats are available with Additional fees of Rs.50
4 STUDENTS’ JOURNAL - SEPTEMBER 2015 Enriching Knowledge, Building Potentials
Announcements
Revisionary Lectures for IPCC
Except: 02-10-2015 CA Dipen Palan Rotary Greater Bhavan Venue: 03-10-2015 CA Jigar Popat Rotary Greater BhavanExcept: Venue :
Venue: Branch Premises
The below is just an addition to your knowledge about SSA (sukanya samriddhi account).
After going through the whole Sukanya Samriddhi Account Scheme I noticed some
important points which one should think on before opening it.1) The interest rate in this account is 9.20% which is highest compared to all such small
schemes.2) U can deposit money till 14 years from the date of opening an account. I.e. date of account
opened :- 1-4-2015 then u can deposit till 1-4-2028.3) Maturity of account is after 21 years from the date of opening of account. I.e. date of
account opened:- 1-4-2015 then maturity date is 1-4-2035, till that time u cannot withdraw
money except in two cases as follows:- a) if the girl turns to 18years old then 50% of balance can be withdrawn. b) on the occasion of marriage u can withdraw whole amount and close the account.4) Min deposit of Rs.1000 per year is compulsory.5) Amount deposited in this account is exempt u/s 80c which totals to Rs.1,50,000/-
(maximum) for F.Y. 2015-16.6) Income received through this account is also Tax free.
SUKANYA SAMRIDDHI ACCOUNTDarshan [email protected]
04‐10‐2015
1. What are Bitcoins?
Bitcoin is a form of digital currency, created and held
electronically. No one controls it. Bitcoins aren’t printed, like
Rupees or Dollars – they’re produced by people and businesses
by running computers all around the world, using software that
solves mathematical problems.
It’s the first example of a growing category of money known
as cryptocurrency. Bitcoin’s most important characteristic, and
the thing that makes it different to conventional money, is that it
is decentralized.
2.How does it work?
Bitcoin can be used to buy things electronically. In that
sense, it’s like conventional dollars, euros, or rupees, which are
also traded digitally.
It can be used to buy physical goods, trade instead of any
currency, or use Bitcoins as an investment options. A few
multinationals like Microsoft and Dell have already started
accepting Bitcoins as a payment option.
3. Bitcoins as an investment option
The pros and cons of investing in bitcoins
Why would you invest in bitcoin?
1. Finite supply
The big pro is that there is a fixed, finite supply. Much like
gold and other asset classes, bitcoins can’t just be spun into
existence. Because of the strength of the distributed network, no
one entity can tinker with the supply or limit. There are only 21
million bitcoins that can ever exist. 14.5 million bitcoins have
already been mined till date.
2. Utility
It is argued by some that bitcoin’s utility will drive up the
demand, and thus the value of these digital tokens. Hypersecure
irrevocable token exchange being something that has many
valuable real life use cases.
3. Alternative money system
Many like to own bitcoin as a hedge against other monetary
systems. The economies of the world are inextricably linked, so
an alternative finance system that exists outside of the
traditional one may seem like a good place to store some value.
An example is the bank runs in Cyprus. When the local
government indicated they may begin taxing 10% of personal
accounts, waves of users purchased bitcoin as a way of hedging
against their local currency.
Why shouldn’t you invest in bitcoin?
1. Something might go wrong
Don’t reach for your wallet just yet, there are plenty of
factors to consider. Despite 20 years of cryptographic studies
that suggest bitcoin’s protocol is unhackable, there could still be
some hidden flaw. Something that turns a $4 billion market cap
to zero. With our current understanding of cryptography this is
unlikely, but it is still a possibility to consider.
2. Security and management
On the block chain, you prove ownership of bitcoins through
control of a private key (similar to a password). This makes data
security very important. Holding bitcoin means protecting your
private key in ways that involve some level of technical skill and
cost.
3. Volatility
The swinging price of bitcoin, or its ‘volatility’, is also a
factor. Bitcoin trading is not for the faint of heart. Historically
the price has fluctuated significantly, and seeing a 50% decrease
in value in a day is not unheard of. This highly volatile market
can be a benefit to skilled traders who can use the fluctuations to
their advantage, however for many this does not make it an
appealing investment.
4. How can you invest?
1. Buy and hold
Bitcoins – As an Investment optionMiraj [email protected]
...Contd on pg No.6
5STUDENTS’ JOURNAL - september 2015Enriching Knowledge, Building Potentials
Buying bitcoin is the simplest way to invest, you exchange
money for an agreed amount of bitcoin based on market rates. The
market rates are dictated on open exchange, or you can also
p u r c h a s e o f f b r o k e r s t y l e m a r k e t m a k e r s
likeCoinSecureorUnocoin. If you buy bitcoin, you then need to
hold bitcoin. You can set up an offline wallet (which you control,
but requires high security) or use a third party wallet like Unocoin.
2. Mining
As we mentioned earlier, transactions using the blockchain are
verified by a distributed network of super-computers. If you contribute
computing power to this distributed network, you will be apportioned
some of the newly minted coins as a reward and incentive for
processing the transactions. But this is a very complicated method, so
not for people who have just started investing.
5. Current market scenario
This year has seen a great deal of attention towards Bitcoin
and blockchain technology, from governments and large
financial institutions like Microsoft and Dell. Although interest
has been building for some time, the last few months have seen
many of these bodies go public with their interest by
announcing various trials and research programmes.The total
amount of Venture Capitalist investment in Bitcoin companies
in 2014 was around $410.7 million.
Despite a degree of uncertainty in the air, many remain
optimistic over the future of Bitcoin. The interest from powerful
banking institutions should be encouraging to all those
operating in the Bitcoin space. It is worth remembering the
reservations expressed by the banks towards e-commerce and
online payments before they became the vital part of the global
economy we know them as today. Bitcoin still has a great deal to
offer and, as always, is an incredibly exciting industry to be
involved with.
6. Future of Bitcoins
Bitcoin is a crypto currency that is gaining popularity
globally because of its benefits to the online community as a
whole. It has started being considered as a wonderful option in
comparison to national currencies. Its future prospects seem
very promising given the substantial growth in the total market
capitalization. Bitcoin has come a long way over a period of five
plus years since its inception.
Hence the growth of Bitcoin as a currency is indeed very
promising in the future to come and the expectations regarding
growth beyond 2014 is tremendous in the user as well as non
user community.A lot of professionals engaged with Bitcoins
are enthusiastic about the currency and have high hopes about
its performance. Read their thoughts here.
7. Investment tips
For an investor, time period and patience will be very
important. The reason for this is that the value of Bitcoin is
fluctuating day in-day out. There have been times where the
value of Bitcoin has fallen 50% in one
day. But the interest for Bitcoin all
around the world has been increasing
and it may prove to be a healthy
investment if given considerable
investment time.
The current Bitcoin price in India
is around Rs.15600 for 1 Bitcoin. The
live prices for Bitcoin can be seen on
the following site :
***Live! Bitcoin value.***
But future is what it matters. The
following site provides future predictions for the value of
Bitcoins :
***Bitcoin value forecast VS Bitcoin performance.***
As a part of the investment portfolio, one can look for partial
asset allocation and can invest 1 to 2 % of the total investment.It
will definitely be a long run game and there is no promise for
short term returns.
8. Legal status of Bitcoins in India
In India, bitcoin transactions are completely legal.
Since Bitcoin is not a fiat currency with legal tender status under any jurisdiction, but the tax liability comes regardless of the medium used for transaction. In India, however, the press release by RBI, Bitcoin transactions are not authorized central bank or monetary authority. RBI, in the same press release has cautioned the traders and users about the security risks and issues that may arise. As per Forward Contracts (Regulation) Act, 1952, goods is ‘every kind of movable property other than actionable claims, money and securities.’ So Bitcoin may be defined as goods and taxes might be charged accordingly.
For more details please check the following site :
Legal information on Bitcoins
9. Conclusion
To conclude, one could say that Bitcoin investment will be a
profitable one in the long run. Increasing attraction from around
the globe will drive the demand upward and so its value will
definitely increase. To add to it, increasing interest from Global
giants and a number of international banks will also help the
value of bitcoin improve and stabilize. It’s a good investment
option for investors who would like to diversify their portfolio
and look for gains in new sectors. A small investment to start
with will also help the investor to learn about Bitcoin market but
it sure does seem a profitable one.
6 STUDENTS’ JOURNAL - SEPTEMBER 2015 Enriching Knowledge, Building Potentials
Bitcoins – As an Investment option
GLIMPSE OF PAST EVENTS
Study Circle Meet
on 02-08-2015
by
YASH KAKKAD & AMIT BAVISHI
topic of services tax reg,
ssi reg. AND vat reg.
7STUDENTS’ JOURNAL - september 2015Enriching Knowledge, Building Potentials
Study Circle Meet
on 23-08-2015 by
Raghuveer Jadeja
& Mansi Kakkad
Exam oriented
discussion on
provision of
company audit
8 STUDENTS’ JOURNAL - SEPTEMBER 2015
“The views and opinions expressed or implied in the newsletter of Rajkot Branch of WICASA are those of the authors and do not necessarily reflect those of Council of ICAI, WIRC, Rajkot Branch or office bearers of any committee of members of any committee.”
"ICAI Bhawan", Yogi Anand, 2nd Floor,
Kasturba Road, Rajkot - 360 001.
Ph. 0281 - 3053462
IF undelivered please return to…
Enriching Knowledge, Building Potentials
GLIMPSE OF PAST EVENTS
DEBATE COMPETETION
Revisionary Lectures Revisionary Lectures for for
Final & IPCFinal & IPC
Revisionary Lectures for
Final & IPC
Revisionary Lectures for
Final & IPC: More Details :
Read Pg 3 & 4
: More Details :
Read Pg 3 & 4
