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
WICASA BUZZ • A MONTHLY NEWSLETTER
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
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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
WICASA BUZZ • A MONTHLY NEWSLETTER
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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
WICASA BUZZ • A MONTHLY NEWSLETTER
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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
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 .
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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 .
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PAGE | 07JUNE 2021
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 .
WICASA BUZZ • A MONTHLY NEWSLETTER
PAGE | 08JUNE 2021
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 .
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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
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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 ;
WICASA BUZZ • A MONTHLY NEWSLETTER
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 .
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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
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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
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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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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 .
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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.
WICASA BUZZ • A MONTHLY NEWSLETTER
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
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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.
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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”?
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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.
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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??
WICASA BUZZ • A MONTHLY NEWSLETTER
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”.
WICASA BUZZ • A MONTHLY NEWSLETTER
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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.”
WICASA BUZZ • A MONTHLY NEWSLETTER
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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.
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WICASA BUZZ • A MONTHLY NEWSLETTER
C R E A T I V I T Y C O R N E R
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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
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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
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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
C A I N T E R M E D I A T E
JUNE 2021
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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
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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
C A I N T E R M E D I A T E
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
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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
C A I N T E R M E D I A T E
I T ' S M E M E T I M E
JUNE 2021
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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
WICASA BUZZ • A MONTHLY NEWSLETTER
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
WICASA BUZZ • A MONTHLY NEWSLETTER
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
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As You Teach You Learn- Activity #learn_with_fun_nskwicasa
JUNE 2021
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Covid pandemic-Turning Challenges into Opportunity-A Talk
JUNE 2021
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Online GST Regional Workshop Day 1- Basics of GST
JUNE 2021
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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
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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
WICASA BUZZ • A MONTHLY NEWSLETTER
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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
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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
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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
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Inspirational Fire side chat with BOS Chairman
MAY 2021
JUNE 2021
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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 | 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 :
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