WICASA BUZZ - Nashik Branch of WIRC of The Institute of ...

WICASA BUZZA M O N T H L Y S T U D E N T S ' N E W S L E T T E R O FN A S H I K B R A N C H O F W I C A S A O F I C A I

BY CA. PIYUSH CHANDAK

W H A T I S I N S I D E

Chairman 's Communication

CHAIRMAN’S COMMUNICATIONWICASA, NASHIK BRANCH

Best wishes to all Dear Students,

As I write this communication , as per the information received so far , Nashik

District will be lifting up the lockdown to some extent and we would be getting

permission to move outside . All that is required for us is to carry out our

responsibility of stepping out of the house when it is really necessary and follow

proper precautions of wearing masks , maintaining social distance and sanitizing

our hands and taking all the precautions while going out if the lockdown gets

lifted .

Also some of you will be giving the attempt of the most awaited May

examination , which is going to start in the month of July . The detailed schedule

will be announced by ICAI sooner .

Important Announcement

Educational Articles

Personality Development

Nashik WICASA Activities

JUNE 2021• ISSUE 6

WICASA BUZZ • A MONTHLY NEWSLETTER

JUNE 2021 PAGE | 02

Nashik Branch of WICASA organized a series of events and activities in the

month of May-2021, same are listed below :

1) Webinar on Learning skills in MS-Excel Jointly with- Ahmednagar ,

Aurangabad , Dhule , Jalgaon , Sangli , Satara Branch of WICASA of ICAI

2) As You Teach You LearnAn activity for students to bring out the creative part of them along with

studies .- #Learn_with_fun_nskwicasa

3) Covid pandemic-Turning Challenges into Opportunity-A Talk Jointly

With Satara Branch of WICASA of ICAI

4) 10 days Online GST Regional Workshop covering -Concepts of GST :- How to read GST law and the logic behind various

concepts . How to find answers to your doubts from the law… and not from

google .

Practical Training on GST Portal-100% practical training of GST portal . Form

registering to surrender , return filing , und application filing , LUT , etc .

Use of CBIC portal-Exemption Notification , Rate Notification

Jointly With – WICASA of WIRC and Ahmednagar , Aurangabad , Akola ,

Amravati , Dhule , Ichalkaranji , Jalgaon , Kolhapur , Latur , Nanded , Sangli ,

Satara Branch of WICASA of ICAI (Total 13 branches)

We are happy to inform that, we received Registrations of more than3500 students for the workshop.5) Born to be a Chartered Accountant -An inspirational Fire side chat with BOS Chairman and CCM – CA Jay Chhaira

Jointly with - Satara , Ichalkarnji Branch of WICASA of ICAI

6) QUIZZEEE PREMIERE LEAGUE Jointly with Aurangabad Branch of

WICASA of ICAI .

7) Nashik WICASA also joined hands with Ahmedabad Branch of WIRC and

WICASA in the event of M-73 for physical fitness .

In coming month we will be focusing on the activities which could help you

out for the ensuing exams , which will include Meditation , Yoga , etc .

We are also checking the possibility of making vaccination available to the

students ; the details will be shared as soon as it is available .

Wishing you best of your health… and all the best for your studies.

Regards ,

CA . Piyush Premsukh Chandak

Chairman-WICASA

Nashik Branch of WICASA of ICAI

9766227755

capiyushchandak@gmail .com


JUNE 2021 PAGE | 02

INDEX


I C A I N E W S & U P D A T E SC O N T R I B U T E D B Y N E W S L E T T E R T E A M

PAGE | 03

Important Announcement - ICAI Chartered AccountantsIntermediate, Final & PQC Examinations for May 2021 will nowcommence from Monday, 5th July 2021. Detailed Schedule /Notifications for the said Exams will be announced shortly.

Detailshttps://icai.org/post/exam-announcement-260521

Re-opening of Online Filling up of Examination ApplicationForms for Chartered Accountants Examinations, May 2021from 4th May 2021 (10 AM) to 6th May 2021 (11.59 PM)considering prevailing Covid19 situation. Detailshttps://icai.org/post/re-opening-online-filling-up-examforms-may21

Completion of Orientation Course/IT Training by the studentsundergoing practical training on or before 30th June 2021instead of 31st May 2021

For more details please visithttps://icai.org/post/completion-of-orientation-course-it-training-310521

JUNE 2021

https://icai.org/post/exam-announcement-260521

https://icai.org/post/re-opening-online-filling-up-examforms-may21

https://icai.org/post/completion-of-orientation-course-it-training-310521


PAGE | 04

Extension of time period for commencement of PracticalTraining on or before 30th April 2021 to 30th June, 2021 forappearing in Final examination to be held in November, 2023 -(21-05-2021)

For more details please visit https://icai.org/post/ext-time-period-for-commencement-of-pt

Live Coaching Classes (LCC) Batch-3 commencing from 10thMay 2021 respectively for Students of Intermediate courseappearing in Nov 2021 examination and Final course for Nov2021 and May 2022 examination. - (08-05-2021)

https://icai.org/post/live-coaching-classes-batch-3

Important Exam Announcement - (27-05-2021)Examination DepartmentCA (EXAM) Foundation June 2021 dated 5th March 2021, it isnotified for general information that Patan (Gujarat) andMalegaon (Maharashtra) are added to the list of cities wherethe Foundation Examination, June 2021 are scheduled to beheld on June 24th, 26th, 28th and 30th, 2021 provided thatsufficient number of candidates offer themselves to appearfrom each of the aforementioned cities.

For more details visit at-http://icai.org/post/exam-announcement-270521

JUNE 2021

https://icai.org/post/ext-time-period-for-commencement-of-pt

https://icai.org/post/live-coaching-classes-batch-3

http://icai.org/post/exam-announcement-270521


PAGE | 05

Nashik Branch of WICASA of ICAI has launched"AICTSS MCS Batch 47”

Date 07 June 21 to 22 June 21

Time: 10.00 am to 05.00 pm

Venue: @ ZoomRegister below:https://bit.ly/3yudl9s

JUNE 2021

https://bit.ly/3yudl9s

How did all this start?It started in a couple of different ways , depending on how you look atit . While bitcoin and other crypto assets have always had their fairshare of fans and people who have made astonishing wealth from it , ithas rarely been mainstream , like say stocks or mutual funds . In 2021

though , this has changed . US-based crypto exchange Coinbase went

public and was valued at $100 billion . A niche asset class was finally inthe limelight .

Simultaneously in India , crypto exchanges saw users flock to them inrecord numbers . One crypto executive told that he is seeing upto amillion users at the same time- a figure he did not see even at

shopping giant Amazon . WazirX , CoinSwitch Kuber and other

exchanges ran high profile advertising campaigns during the IndianPremier League (IPL)- further boosting their growth .

Like you would not believe . A single bitcoin was worth $9500 (users canhowever buy small fractions of a coin to invest) in May 2020 . Therebegan a meteoric rise , with prices touching $40000 in January-something many thought insane- until it touched $65000 last month .Bitcoin ’s market cap was at over a trillion dollars- making it more

valuable than Facebook and Tesla . Mind you , this is for an asset much

of the world is still waking up to .

Bitcoin and Ethereum , the two largest traded currencies saw theirprices jump but that wasn ’t the real surprise . Dogecoin , a meme

currency started as a joke , saw its price shoot up as celebrities like ElonMusk talked about it . Dogecoin was worth $70 billion- more than Uber ,as of last week . It even spawned joke-on-a-joke Shiba Inu Coin , which

also promptly saw its value rise and then fall .


PAGE | 06

C R Y P T O C U R R E N C Y M A N I A B y C h e l n a B h a n d a r i

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E D U C A T I O N A L A R T I C L E S

JUNE 2021

Who is using these currencies? And for what?Crypto ’s two main uses are as a mode of payment , as opposed torupees or dollars and as an investment asset , as opposed to gold orstocks . The investment use case has worked spectacularly , with millions

of customers purchasing coins , holding on to them , and selling them tomake a killing , or in other cases , investing when prices are high , andholding on for the thrill of being invested in crypto .While it has been used for payments in some countries , this has beenmet with skepticism , and downright rejection in India . Governments donot want a substitute to official currency , and the volatility of theseprices do make them unsafe for payments . Imagine paying a milliondollars for pizza.

Prices have also risen because crypto has become more legitimate inthe last year as large global institutions embraced its use and value .Auction house Sotheby's says it would accept bitcoin payments,Tesla customers can buy a car with bitcoin , the S&P Dow Jones

launched a crypto index , and Morgan Stanley gave its wealth

management clients access to bitcoin funds . People even bought Non

Fungible Tokens (NFTs)- digital works of art with a unique crypto

identity that can be worth millions of dollars .This kind of large scale adoption led even some skeptics to wonder

that crypto may not just be a speculative bubble .

But...is it a bubble?It is a valid question . Two crypto enthusiasts who have been investingsince 2017 , said they were worried about prices rising like there is notomorrow . In fact , as prices have fallen over the last one week , many

long term investors have been relieved , thinking that a correction

proves that it is not a bubble . But the nature of the beast is such that itcould again rise to a record tomorrow if Elon Musk were to promote itsubtly .


PAGE | 07JUNE 2021

https://www.bloomberg.com/news/articles/2018-02-26/crypto-legend-who-bought-pizza-with-10-000-bitcoin-is-back-at-it

https://www.moneycontrol.com/news/world/how-bitcoin-marched-towards-the-mainstream-6887831.html

Why did prices fall?In April , a power outage in China ’s Xinjiang region- responsible formore than a third of global bitcoin mining- led to prices falling .Further , Turkey ’s central bank banned crypto usage the same week .Earlier in April , Elon Musk - an unofficial crypto cheerleader so far- saidthat Tesla would stop accepting bitcoin payments because bitcoin

fueled further consumption of fossil fuels- the opposite of Tesla ’srenewable energy mission .

Experts have also said that , after the record surge , a fall was expectedanyway and that no asset ’s price can go on rising forever . Over the 11years , bitcoin has seen a price change of over 5 percent750 times , aprice change of over 10 percent 250 times , and a price change of over20 percent 50 times . Volatility is seemingly the name of this game .

Is any of this legal in India?Ah , the trillion dollar question . While the RBI banned crypto in 2018 ,the Supreme Court quashed the order recently , calling the ban

“unconstitutional”. The crypto industry has steadfastly maintained thatregulating, not banning, is the way out. Regulators and ministers

have ruled out bitcoin being used for payments in India , something theindustry has accepted . They are fine with it being only an asset class .Crypto as an asset class is legal as per the Court .Banks , however , have taken a cautious view and detached themselves

from crypto exchanges , fearing action from the RBI . This also

happened at a time when crypto exchanges were seeing record

activity , exacerbating the issue . Exchanges cannot function in the longterm without banks .Then, how are users investing and withdrawing?Users are certainly able to invest and withdraw for the most part ,although not at will . Exchanges are sometimes giving more features tonew users temporarily , so that their first experience is smooth , while

existing users bear the brunt of regulatory uncertainty . Some small

banks are still working with exchanges , who are also working on

alternate payment mechanisms , including peer-to-peer payments andan offline mode .

So, where do things stand now?A lot of things are happening simultaneously . As prices fell in the lastfew days , it led to a massive selloff , but millions of Indians still seemexcited by crypto . Exchanges are lobbying and working with regulatorsto get clarity as soon as possible . New domestic currencies are beingtraded , crypto is hailed as both incredible and fraudulent , often on thesame day , but if user numbers are any metric , the crypto boom in Indiaso far looks real .


PAGE | 08JUNE 2021

https://www.marketwatch.com/story/why-is-crypto-crashing-will-bitcoin-prices-ever-recover-heres-what-traders-and-investors-say-11621456298?cx_testId=3&cx_testVariant=cx_61&cx_artPos=6&mod=WTRN#cxrecs_s

https://www.moneycontrol.com/news/business/regulate-instead-of-banning-cryptocurrencies-in-india-say-entrepreneurs-6420801.html

https://www.moneycontrol.com/news/business/startup/crypto-exchanges-vs-banks-customers-get-caught-in-crossfire-6882091.html

https://economictimes.indiatimes.com/tech/technology/crypto-exchanges-look-for-alternatives-as-banks-shut-doors/articleshow/82742090.cms

There was a great need of the time following the era of digitalisation inIndia during the last decade , as use of smart phones have increased toa significant extent , which in turn have rapidly increased the

promotional and advertising activities through digital modes like

various business and corporate houses , start-ups in India hasstartedpromoting their products and services digitally through facebook ,instagram , you tube and various other applications , the server of which

are located outside India . The biggest challenge before the Income taxauthorities was that they cannot tax such income as business was

conducted without regard to national boundaries and may dissolve thelink between an income producing activity and a specific location . Indigital Domain the business doesn ’t occur in any physical location butinstead takes place in cyberspace due to which it becomes difficult todetermine the taxability of Income .

To overcome this situation and to protect the interest of revenue theCentral Government of India has introduced the concept of

Equalization levy Scheme vide VIII Chapter in the Finance Act , 2016

with effect from 1st June 2016 to whole of India except Jammu andKashmir . The Idea of this levy was taken from BEPS Action plan 1 , which

provides 3 recommendations out of which India has implemented 2recommendations i .e . equalization levy and significant economic

presence concept .

But what actually equalization levy means and to whom it is

applicable , lets understand more analytically through the wordings ofbare text ;Meaning of Equalization levy : Equalization Levy means the tax leviableon consideration received or receivable for any specifies service .What is specified service?

i). Online Advertisement ;ii). Any provision for digital advertising space or any other facility orservice for the purpose of online advertisement or any other service asmay be notified by the central government in near future .


PAGE | 09

S H O R T B R I E F O N T H E I N T R O D U C T I O N O FT H E C O N C E P T O F E Q U A L I Z A T I O N L E V Y

S C H E M E I N I N D I AB y P u s h p k u m a r S a h u

C R O 0 5 5 3 3 1 7

JUNE 2021

A person resident in India and carrying on business or profession or

A non-resident having a PE in India .

The non-resident providing the specified service has a PE in India

and the specified service is effectively connected with such PE ;

The aggregate amount of consideration for specified service

received or receivable in a previous year by the non- resident from a

person resident in India and carrying on business or profession , or

from a non-resident having a PE in India , does not exceed INR 1

lakhor

Where the payment for the specified service by the person resident

in India or the PE in India is not for the purposes of carrying out

business or profession .

Charge of levy ( Section 165 of Finance Act ,2016 is the charging section

)

Equalization levy is levied at the rate of 6% on the amount of

consideration for specified service (as mentioned above) received or

receivable by a person , being non-resident from-

1 .

2 .

Equalization levy is not chargeable , where-

1 .

2 .

3 .

Conclusion : The introduction of such tax regime proves to be boon for

the Indian Economy as it helps in increasing the tax revenue of the

nation and to have a check and control over the payments made to

such E-commerce companies which are not having PE or place of

business in India .

For more info copy of short video clip which is available on youtube is

attached herewith ,

https ://youtu .be/xMfDD8Agdck

Happy Readings ;


PAGE | 10JUNE 2021

IntroductionA well-known word of the year 2020- New Normal ! Work from home ,

Online pharmacy , Online shopping , etc are becoming new normal but

can the concept of electronic scooter become a new normal in India?

This initiative was to protect the environment but due to slowdown in

the Indian economy , it has become a necessity rather than an initiative in

India . There is a sudden hike in the prices of petrol and diesel , almost

every city is becoming a target of pollution in India .

Earlier the steps taken for this innovation were different , in compliance

with the Paris Agreement of 2015 , signed by 195 countries , India has to

reduce the use of fossil fuels in automobiles . India plans to reduce its

carbon emissions per unit of GDP by 33-35 percent

India has to invest more in implementing carbon-neutral technology

such as electric vehicles and renewable energy by 2025 in order to fulfill

the terms of the agreement .


PAGE | 11

F U T U R E O F E L E C T R I C V E H I C L E S I N I N D I AB y H a r d i k G u j a r a t h i

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Plug-in hybrid vehicles with two or three wheels are electric

bikes and scooters . In a rechargeable battery , which drives one

or more electric motors , the electricity is stored on board .

Electric scooters have a step-through frame (as distinct from

motorcycles).

Concept of EV

JUNE 2021

The Energy Department targets 4 trillion more population cities

under EV Policy Initiative in the early stage of the Electric Vehicle

(EV) implementation plan . Auto Expo 2021 held in February this year

focused largely on the future fuel for Indian transport , namely the

electric vehicles that all industry players have created their best

electrical models and concepts for their arsenal , beginning with

Maruti Suzuki , and ending with new entrants as well as MG Motor

and Great Wall Motors

No extra charges for fuel

Eco-friendly and low on the carbon footprint

Noise pollution-free

Costing-The cost for an electric vehicle is therefore considerably

higher than for a conventional vehicle but it makes a lot of sense to

dive if you want to keep the product for a decade or more . This is

due to the considerably lower operational and maintenance costs of

an EV .

Infrastructure Issues-This is where EVs continue to miss out on

traditional vehicles . While EV infrastructure in major cities is

constantly being upgraded , it is still ideal . A public charging station

is a total anomaly on highways and smaller cities . The charging

period is also important , while an EV may be charged using a

normal wall socket which can mean that an EV owner is held in

prison for the passing hour

Range of EV-There have always been concerns about how many

miles in an oil or diesel engine . The question is : How many miles an

electric vehicle can do at maximum charge is a matter for people

worldwide when they consider a vehicle of this type .

Support-Electronic Electric OEMs already in the Indian market have

a great deal to do with post-sales service issues .

Advantages of EV

Although original electric cars cost considerably higher than

traditional cars , In the long run , the cost of owning and maintaining

electric cars is generally cheaper .

The electricity source in the case of EVs is equally significant . If energy

is generated by means of environmental destruction such as coal-fired

power stations , as is often the case in developing countries , it

essentially contradicts the environmental benefits of electric cars .

As electric vehicles are free of internal combustion engines and

commonly speaking , have fewer parts , they are generally silent than

traditional vehicles . In turn , this helps to curb noise pollution ,

especially in crowded urban areas . .

Disadvantages of EV


PAGE | 12JUNE 2021

Problems in manufacturing EV in India

In electric cars , the materials used are different from those used in

traditional vehicles .

New demands on the world supply chain could be generated as

demand for battery components such as nickel and cobalt could

rise significantly .

Battery chemistry may need to be adapted or maybe new models of

transport may arise for the resolution of essential supply problems .

New infrastructure for charge vehicles will also be required for the

transition . Neither of these barriers is insurmountable and the sales

of passenger cars by 2050 will mostly be electric .

We have seen massive changes , particularly in terms of technology ,

but also in terms of people ’s attitude towards cars ’ environmental

impacts and other mobility solutions , from the first electric car

established in 1837 up to the present time . Although the electric

vehicle market is currently a lucrative goal for companies and start-

ups in India , several obstacles still remain to be addressed in order

for EVs to be ready for mass adoption . High-cost barriers include , for

example , manufacturing electric vehicles domestically .

Similarly , battery manufacturing is essentially a costly venture . The

Indian Government must concentrate its energies on promoting

technological disruption to resolve these challenges . The

government would also need to provide enhanced tax incentives

and subsidies to potential car owners and suppliers in order to

quicker adoption of EVs .

Conclusion


PAGE | 13JUNE 2021

The efficient market hypothesis states that when new

information comes into the market , it is immediately reflected

in stock prices and thus neither technical nor fundamental

analysis can generate excess returns . Its examined that recent

research related to behavioral finance , momentum investing ,

and a popular fundamental ratio that purports to contradict

the theory and concludes that it is not significant in the long

run . Therefore , in his view , the efficient market hypothesis

remains valid .

The efficient market hypothesis holds that when new

information comes into the market , it is immediately reflected

in stock prices ; neither technical analysis (the study of past

stock prices in an attempt to predict future prices) nor

fundamental analysis (the study of financial information) can

help an investor generate returns greater than those of a

portfolio of randomly selected stocks . The reviews are the

recent findings of three schools of thought that challenge the

efficient market hypothesis based on their claims that

evidence of predictable patterns in stock prices exists .

T H E E F F I C I E N T M A R K E T H Y P O T H E S I S A N D I T S C R I T I C S B y R a h u l C h a n d a k

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PAGE | 14JUNE 2021

One school of thought challenging the efficient market hypothesis is

momentum investing , a combination of technical and fundamental

analysis that claims that certain price patterns persists over time . The

second is behavioral finance , which maintains that investors are guided

by psychology more than by rationality and efficiency . And the third is

fundamental analysis , which holds that certain valuation ratios predict

outperformance and underperformance in future periods .

Momentum investors base their argument against the efficient market

hypothesis on the following . In a truly efficient market , the short-term

serial correlations among stock prices should be zero , but several studies

have shown examples of short-term serial correlations that are not zero ,

thus indicating the possibility of a discoverable pattern . Although these

findings are statistically significant , they may not be economically

significant . For example , as soon as evidence of the so-called January

effect was made public , investors incorporated the information into their

investment decisions and the effect disappeared . Furthermore ,

momentum strategies do not perform well in all markets . Although they

led to excess performance in the late 1990s , they generated

underperformance relative to the poorly performing market of the early

2000s .

The findings of behavioral finance , which indicate that investors

overreact to some events and underreact to others . He cites research

indicating that underreaction is as common as overreaction and that

post event continuation of abnormal returns is as common as post event

reversals . In other words , what appears to be a trend according to the

tenets of behavioral finance may merely be a random event .

With regard to fundamental analysis , many believe that initial dividend

yield and price-to-earnings multiples can be used to predict future stock

results . However , that these measures do not consistently predict stock

performance in all time periods , which means that they do not

contradict the efficient market hypothesis .

The conclusion is that occasional anomalies do not violate the efficient

market hypothesis ; they lose their predictive power when they are

discovered and do not hold true in the long run .


PAGE | 15JUNE 2021

After J Rajasekhar Reddy lost his vision owing to a damaged optic

nerve caused by brain tumour at the age of 11, Rajashekar never

imagined that he would be able to achieve success. Rajashekar Reddy

has qualified as a Chartered Accountant with his determination and

patience.

He is the first completely blind candidate in India to manage this

success which requires rigorous hard work and courage. He said in his

interview that 'My success is not mine alone but of all those

volunteers, teachers, friends and mentors who supported me

throughout,' He added that his teachers and many volunteers helped

him by recording the books into an audio format through scanners.

Moral to be learned

It is so much inspiring that people even after being physically

challenge never fail to achieve their target. There are highs and lows

in everyone's life but what matters is that we stick to our goal during

the days when we face failure. The attitude should be I CAN and I

WILL. Then the result will surely be positive.


P E R S O N A L I T Y D E V E L O P M E N T :I N S P I R A T I O N A L S T O R I E S

C O N T R I B U T E D B Y E D I T O R I A L T E A M

PAGE | 16

J R A J A S E K H A R R E D D Y -I N D I A ' S F I R S T B L I N D C A

S T O R Y

JUNE 2021

Reena Khamesra - Started her CA journey at the age of 43Reena Khamesra decided to pursue CA at the age of 43 to inspire

her daughter for becoming a Chartered Accountant. This journey

started with her daughter who wanted to pursue CA just like her

Dad and she had a random thought for her mother that even she

should enroll for this course. Her mother Mrs.Reena Khamesra

quicly said a Yes and they both enrolled for the course together.

They both cleared CPT together. There were people who told her

that 'CA kyun karna hai ..you are already 44 and Naukri thodi

karni hai uske baad' but she was sure that whatever it takes she is

not going to step back. She completed her articleship with 3

hours of morning class then heading to office and then again 3

hours of evening classes along with managing family. She says

that her articleship journey made her evolve as a stronger person.

Then unfortunately during her finals, her Father-in-Law got a

paralytic attack. He was rushed to the ICU. Her Father-in-law was

in the hospital for 90days. Her exams days were nearing it was

the 1st of Nov. Her exams would start on the 10th of Nov. She said

that she was sure that she wouldn't clear! She hardly got 10 days

to study. On the result day, she was in Udaipur tending to her in-

laws. Suddenly she got a call from her husband that 'YOU are a

CA' and this is how she qualified as a Chartered Accountant at

the age of 49!

Moral to be learned There is no age of becoming what you want of become. We face

fear of failure when we don't clear our exams in some attempts

but people like Reena inspire us to continue with our dreams

despite of multiple failures, difficult circumstances and with lots

of courage.

These were some inspiring stories of Chartered Accountants who

did not stop even after facing so many hurdles in their life.

I hope this will motivate you all.


PAGE | 17JUNE 2021

Elon Musk: The Success Story of Real life Iron Man

So how many of you heard of Tesla Motors? What about SpaceX?

Hyperloop?

Unless you live under a rock without bars chances are you mostly

heard of the name Tesla Motors. It is a car company, Electric car

company to be specific. This guy we are talking about, Read the title

once in case you forgot his name, is the CEO of it and this is his

success story.

In Management classes, you may be heard of lecturers saying “we have

to think out of the box”. This guy did a Ph.D. on it, guys please stop

searching google on “how to do a Ph.D. in Out of the box thinking” I

haven’t said it literally.

We watched many sci-fi movies, let’s say Blade Runner, Star Wars,

Total Recall and many. In all those movies they projected that the

future is all about Air Transport, but this guy is digging a hole in the

ground from Los Angeles to San Francisco for High-speed

transportation. This time I mean it literally.

Let’s be frank how many of us think of ideas like leaving the Earth and

start colonizing on Mars? and how many of us ever thought of reusing

an orbital rocket? Forget about out of the box his thoughts are already

out of this world.

Elon Musk is the second entrepreneur in silicon valley who created

three companies with a market cap of $1 billion or more with PayPal,

Tesla and SpaceX. But do you know “he got fired as a CEO from his

own company”?


PAGE 018JUNE 2021

Being the Firstborn of a South African father and a Canadian mother

who got divorced when he was 9 by the way. He is always interested in

books. His dad said, “he used to read books even while he was at a

party.” He taught himself programming and developed a game at the

age of 12 and sold it to a company for a price of $500.”

While he is studying in a school he got bullied by his schoolmates and

got beaten up severely until he is blacked out and then he hospitalized.

His childhood is a difficult one because the other kids used to mess

with him all the time because he is different from them. He is smart

and special. At that time in South Africa, there is mandatory military,

every male from a family has to serve in the army when he turns 18, to

avoid that and to pursue his dreams Elon Musk after graduating from

Secondary school in Pretoria moved to Canada to his mother’s relatives

while he was 17.

Elon Musk’s Study in CollegeIn Canada to survive poverty he worked in some low paid jobs, then he

received a scholarship from The University of Pennsylvania and moved

to the United States. Elon Musk majored in Physics and Economics, yup

two bachelor degrees.

This is How Elon Musk Gets his StartAfter he got a seat in Ph.D. in Applied Physics at Stanford University

which is very prestigious but he dropped out just after two days to start

a new company. He and his brother borrowed $28000 from their father

and launched a company called Zip2. To save rent and other expenses

he used to sleep in his company office and took showers in a near gym.

Four years later they sold their company to Compaq for $307 million in

cash and $34 million in stock, this is how Elon Musk gets his start he

received $22 million for his 7% stake from the sale.

Later he started another company called X.com and it merged with its

competitor and turned into PayPal where he got fired as CEO. Later

eBay acquired it for $1.5 billion. This is where Elon Musk got rich, he got

$165 million from the deal.

From Ordinary Story to Success Story

This is where his story started to become a success story, If some other

person got that money he will spend it on mostly Luxuries, well he too

bought a McLaren and a Private Jet but he took an extremely risky

decision. At that time Electric cars are considered to be slow and ugly

but a company called Tesla wants to change it, but while they are in a

position of bankrupt Elon Musk invested $80 million on Tesla Motors

and became its CEO.


PAGE | 19JUNE 2021

Some people say that failure is the first step to success, and there is a

man who invented the bulb he said this famous quote “I have not

At first, it is a failure, cars are very priced, TV shows like Top Gear

brought a lot of negativity to the brand but Elon Musk fights back. He

took precision care and took some bold decisions like firing some of the

employees and even its co-founder and by actively participating in that

company’s innovation and decision making he made the company a car

giant. Even our Prime Minister Narendra Modi also visited his factory.

Now they are manufacturing Tesla Roadster 2.0 which is the world’s

fastest car ever. now if anyone heard the word “electric car” chances are

they are thinking of Tesla mostly like it has no opposition. Tesla is now

ruling the electric car market unanimously.

Same in the case of SpaceX, at the beginning it was a failure, they tried

to launch their first rocket but failed to reach the orbit three times, for

every failure it costs millions of dollars. If there had another failure, Elon

Musk might lose all his money at that time. But on their fourth attempt

the project got succeeded, At that time they got a deal from NASA and

from henceforth there is no turning back. They are the first private

company to send a spacecraft to International Space Station. Elon Musk

taught himself Rocket Science, as he taught himself programming at

the age of 12, for him, it’s just a Rocket Science.

He never gives up. Once in an interview, he said “My mentality is that of

a samurai. I would rather commit seppuku than fail.”Japanese samurais

won’t let their enemies kill them if they can’t win a battle they will kill

themselves with their blade. This “never give up attitude” brought him

immeasurable success. Not only that but also he is a hard worker, He

works 80-100 hours a week. This 46-year-old Business Magnet is the

partial inspiration for the movie character “Iron Man” played by Robert

Downey Jr. He is a stutterer, he stutters a lot while he is speaking, but

the crowd usually laughs and wait for him to speak. If you’re successful,

people will ignore your shortcomings.

Elon Musk Net Worth

Now Elon Musk is the Founder of SpaceX, The Boring Company, CEO of

Tesla Motors, CEO of Neuralink, Chairman of SolarCity and Co-chairman

of OpenAI. From an Immigrant to Advisor of the US President. From

failure to Success. Now Elon Musk Net Worth is $20.6 billion.

Conclusion

Have you ever wondered why the best success stories mostly begin with

failure??


PAGE | 20JUNE 2021

failed, I’ve just found 10,000 ways that won’t work.” well it’s a hell of a

quote, isn’t it? But do you know what I think about “why most success

stories begin with failure?” Because they haven’t stopped at the failure,

they keep on pushing their limits irrespective of their circumstances.

Maybe there will be a time in your life where you feel like everything is

not working, your work, your relationships, everything but whenever you

feel like that all you have to do is one thing, “Just Keep Pushing”.


PAGE | 21JUNE 2021

The Worries of 'Log Kya Kahenge?' on Mental HealthWhat will people say?

In India, this singular age-old social precept is relevant for everyone. It

cuts across the lines of gender, caste, religion, socio-economic class,

and region. It reigns supreme in regulating people’s decisions, because

should people’s vulnerabilities become public knowledge, they will

invite judgement, gossip and drama. It also suppresses much-needed

psychological care.

A 2011 World Health Organisation-sponsored study found that 36% of

Indians suffered from a Major Depressive Episode (MDE) within their

lifetime. That means India has the most number of people in the

world who suffer from some form of depression at some point in their

lives. The social pressure to be “normal” manifests in unhealthy stigma

and pressure against getting help.

Stigma to appear normal. Stigma to keep the family drama invisible.

Stigma to protect the family honor. Stigma to force yourself out of the

need for help.

The long-held taboo has prevented millions in India from accessing

mental health care. During a televised expert panel discussion on

NDTV in 2017, Chaitali Sinha, a psychologist at HAQ: Center for Child

Rights in India and a practitioner-researcher with the global Mental

Health Innovation Network, deplored the “cocktail of stigma and

ignorance” that prevents people from seeking help. A fellow panelist

on the same show, Dr Shyam Bhat, one of India’s leading psychiatrists,

bemoaned the current state. “We’re still talking about shame, about

stigma,” he said. “We have a long way to go…to successfully address the

challenges to getting quality mental health care in India.”


PAGE | 22JUNE 2021

Mental healthcare in India

Regardless of disorder, however, data compiled by IndiaSpend and

WHO reveal a staggering treatment gap for all mental health disorders

in India: only 10% of patients in the country get treated. In comparison,

in the US, that figure is 44%. In South Korea, 82% gets access to

treatment.

The sheer dearth of experts is astounding. In India, there are three

psychiatrists for every one million people. In the UK, there are over

14,000 psychiatrists for every one million.

In India’s health budget, mental healthcare costs account for a

miniscule 0.06%. In Bangladesh, it is is 0.44%. Not much higher, but it’s

still higher. The barriers to receiving adequate care are numerous and

enormous.

Access to mental healthcare in India is poor in both urban and rural

areas. Nuanced professional training is not the norm. Insurance does

not make mental healthcare affordable. There is an overemphasis on

medication. Few even understand the difference between

psychological attention and psychiatric care. The list goes on.

Often, blame has been cast upon the institutional barriers to mental

health services. The Mental Health Care Bill of 2016 for India provides

much-needed and long overdue comprehensive legislation to target

these systemic obstacles.

It grants every individual the right to access mental health treatment

funded by the government, the right to information and decision-

making power by patients themselves, the right for the mentally ill to

remain in a community and not be segregated from society, the right to

confidentiality, prohibitions on electroconvulsive therapy, the

decriminalisation of suicide, and more. The bill has changed the focus,

from a purely physical-health-based to a care-based system.

Despite such progress on paper, however, there remains a pathetic lack

of social infrastructure in dealing with this issue, and this suppresses

demand for care. Social stigma and discrimination haven’t gone

anywhere. They are still the largest barriers to mental health service

utilisation, confirms a report published in the International Health

journal.


PAGE | 23JUNE 2021


C R E A T I V I T Y C O R N E R

PAGE | 24

A R T I S T I C D R A W I N G S A N D P H O T O G R A P H Y

B Y A D I T Y A S A N J A Y P A N D I TW R O 0 5 7 1 5 5 4 | C A F I N A L

B H A K T I P R A F U L R A M P A R I Y A W R O 0 6 1 0 0 1 3 | C A F I N A L

JUNE 2021


PAGE | 25

K A N C H A N K O R D E W R O 0 6 1 4 8 6 9

C A I N T E R M E D I A T E

P R A T I K J O S H I W R O 0 5 6 3 4 2 5

C A I P C C

R A A V I R A J A R A M K A M A T W R O 0 5 6 9 1 7 9

C A I P C C

R A J A S H R E E M U K H E R J E E W R O 0 6 1 9 4 1 9

I N T E R M E D I A T E

S H A N K A R E E V A I D Y A W R O 0 6 1 7 7 7 5C A I N T E R M E D I A T E

JUNE 2021


PAGE | 26

U N I Q U E C R E A T I O N

S H R U T I M A N I K C H A N D L O D H AW R O 0 7 1 2 3 8 5


JUNE 2021


PAGE | 27

P O E M S

B Y S H I V A N I B H A R A S K A R W R O 0 5 9 3 6 5 3

JUNE 2021


PAGE | 28

P O E M S

Y U K T A M A H A J A NW R O 0 7 1 3 7 0 2


T H E C H A N G E I N N A T U R EO U T S I D E

C H A N G E S H E R T H R O U G H I N S I D EW H E N I T R A I N S

I T R E M I N D S H E R P A I NA S T H E W A T E R D R O P S O V E R

T H E E A R T HS H E R E L A T E H E R T E A R ST H A T A R E N O T W O R T H

W H E N I T ’ S S U N N Y& H E R L I F E I S B E I N G F U N N YA S T H E S U N G E T S B R I G H T E R

S H E S W E A T E V E N H A R D E R N O TF O R D R E A M S

B U T F O R S C A R Y F E E L I N G SW H E N I T S C O L D

S H E H A S T O H O L D , T H E T E A R SC O Z H E R S P I R I T S O A R S

A S T H E T I G E R I N S I D E R O A R SN O W , S H E H A S B E C O M E A F R E E

B I R DD E A L I N G W I T H T H E O L D N E R D

L I F E ' S D I C E H A V E B E E NR O L L I N G

T I M E T O T I M E . . .B U T S H E W I L L N O T G I V E U P

U N T I L S H E S H I N E . .

JUNE 2021


PAGE | 29

B Y P A R A M K A S A L I W A LW R O 0 6 7 8 3 2 6


I T ' S M E M E T I M E

JUNE 2021


PAGE | 30

B Y B A R K H A D U D H A N IW R O 0 5 4 4 6 1 0

Q U I R K Y T A L E S

JUNE 2021


G L A N C E O V E R L A S T M O N T H A C T I V I T I E S

PAGE | 31JUNE 2021


A C T I V I T I E S C O N D U C T E D B Y N A S H I KW I C A S A

PAGE | 32

Webinar on learning skills in MS-Excel

JUNE 2021



PAGE | 33

As You Teach You Learn- Activity #learn_with_fun_nskwicasa

JUNE 2021



PAGE | 34

Covid pandemic-Turning Challenges into Opportunity-A Talk

JUNE 2021



PAGE | 35

Online GST Regional Workshop Day 1- Basics of GST

JUNE 2021



PAGE | 36

Online GST Regional Workshop Day 1- Basics of GST

Day 2-Definitions in GST and how to read GST Law, section7, Schedule I, II,III of CGST Act.

JUNE 2021



PAGE | 37

Day 3-Understanding CBIC website, how to readnotifications and understand it, exemptions in GST.

Day 4-Exemptions in GST with logics.

Day 5- ITC, basic of ITC, how to claim, when can claim and its restrictions.

JUNE 2021



PAGE | 38

Day 6-GST rates as per HSN and SAC code and how to seefrom the CBIC portal.

Day 7-Understanding GST portal, registration in GST,payment under GST.

JUNE 2021



PAGE | 39

Day 8-How to file GST return, GSTR 1 & GSTR 3b

Day 9-How to file LUT, understanding ledgers, offline fillingof returns, applying for refunds under GST

JUNE 2021



PAGE | 40

Day 10-GST Audit, Composition scheme return filing,Composite supply and mixed supply, concept of e-filling and

e-invoicing

Media Coverage of the GST workshop

JUNE 2021



PAGE | 41

Inspirational Fire side chat with BOS Chairman

MAY 2021

JUNE 2021



PAGE | 42

QUIZZEEE PREMIERE LEAGUE

JUNE 2021

Dear Students,Connect with Nashik Branch of WICASA on following contact details.Mob no:- 9421894107Mr.Dhananjay S. PatilBranch AdministratorOffice hours: 10.00 am to 6.30 pm on working days.

Follow Nashik WICASA on social media:Whatsapp Group: bit.ly/3uobD6uTelegram Group: bit.ly/2RcWGpBYouTube: bit.ly/3sXPThEInstagram: bit.ly/3rP3sP3Email: [email protected]

Thanks & Regards,Team Nashik Branch of WICASA of ICAI

D O F O L L O W A N D J O I N U S O N :

F O L L O W N A S H I K W I C A S A O N S O C I A L M E D I A :

https://www.youtube.com/channel/UCgCi0UPUUY0IV__qUFPYmqQ

https://www.instagram.com/nsk_wicasa/

http://bit.ly/3uobD6u

http://bit.ly/2RcWGpB

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