BIGGEST SCAM….With ROOT SOLUTIONS Till Date India has Seen Many Scams Like “Satyam”, “2G”, “Securities Scam – Harshad Mehta & Ketan Parekh”, “UTI Scam”,

Slides:



Advertisements
Similar presentations
INTERNAL AUDIT Mechanism in SSA-MADHYA PRADESH. Staff sanctioned for Financial Management S.No.Name of Post Post sanctioned Post FilledPost Vacant State.
Advertisements

WHAT IS BRANCH? The aim of every business is to grow and increase its sales volume so as to earn more and more profits. To achieve this objective the.
Finalisation of Accounts Workshop for Accountants ICAI Bhawan, Vadodara – 8 th July, 2014 ********************************************* CA. Kejal V. Pandya.
MuMMy Accounting. Master Forms Product Group Master.
Financial Reporting Review Board of ICAI - An Overview.
In the succeeding slides we will discuss financial issues as emerged in the 29 th Quality Review Meeting of Finance Controllers in May All these.
LIMITED LIABILITY PARTNERSHIP BY CA. RANJEET NATU PARTNER NATU & PATHAK CHARTERED ACCOUNTANTS.
22 Audit Reports for Received only from 30 States/UTs Received only from 30 States/UTs Not received from 5 States of Chhattisgarh (defective &
Panchayati Raj Institutions Accounting Software
ACCT 100 Chapter 7 Internal Control and Cash Internal Control and Managing Cash 2 Objectives of the Chapter 1. Introduce the internal control to safeguard.
CLAUSE 41 OF THE LISTING AGREEMENT Prepared by: Tarang Doshi M. V. Damania & Co. Chartered Accountants.
FINANCIAL ACCOUNTING.
INFLUX INFOTECH PVT LTD # 133, 1 st Main, 11 ‘A’ Cross, Behind Wockhardt Hospital, WOC Road,2 nd Stage Bangalore – Phone : , Mobile.
Unit 8 – Source Documents. Source Document Is any business form that serves as the original source of information that a transaction has occurred. A source.
A year that will re-define your 5 th Category.
2–1 1-1 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
ACCOUNTING FUNDAMENTALS UNIT :5 CHAPTER 29 PAGE 528.
Accounting & Financial Analysis 11 Lecture 2
BUSINESS ENTITIES CA. Kishor Rajeshirke
Insurance to Non-Resident Indians (NRIs) 8/31/ C. KARUNAGARAN DEVELOPMENT OFFICER.
WEEK 12: ACCOUNTING CONCEPTS BUSN 102 – Özge Can.
Format of Accounts in Class XI
The Finance Department
BASIC TERMINOLIGIES USED IN FINANCIAL ACCOUNTING BY: WAQAR AHMAD LECTURER MANAGEMENT SCIENCE DEPARTMENT RANA UNIVERSITY KABUL, AFGHANISTAN.
TREASURER’S MODULE. A PERSON WHO IS LARGELY RESPONSIBLE FOR KEEPING ACCOUNTS OF ALL FINANCIAL TRANSACTIONS THROUGH THE YEAR.
 Business-entity - A business should be a separate entity from the owner of a business  Personal items  Records and transactions.
Presentation on Incorporation of a Private Limited Company.
1 MCA21 User Note for FO Users on eStamp Release September 2009.
Day 6 – Session: 3 (b) Session Title : Preparation and usefulness of (i) “Accounts at a Glance” and (i) “Combined Finance and Revenue Accounts”
29 th Quarterly Review Meeting of Finance Controllers-SSA 12 th – 14 th May Shimla ( Himachal Pradesh) PRESENTATION ON FIELD VISIT TEAM - III.
1 ACC102: FINANCIAL ACCOUNTING Week 3: Lecture 4.
ABDUL RASHID MBAECM, MBA, MIS, CHRM, BA, DIP PRESIDENT PHONE ANTIQUA ROAD, MISSISSAUGA L5B 2T8 ONTARIO, CANADA.
CENTRAL REGISTRY OF SECURITIZATION ASSET RECONSTRUCTION AND SECURITY INTEREST OF INDIA (CERSAI) Goa –
Taxation To Tax or not to Tax ? To Tax or not to Tax ?
Review of the Progress of Submission of Audit Reports for the year st Quarterly Review Meeting of Finance Controllers on 29 th May 2014 &
Business Management Services We are happy to extend our package of our services to all Entrepreneurs and Businessmen.
Accounting Concepts - Thomas Sanders. Accounting Period Cycle - Chapter 6 ● Changes in financial info are reported for a specific period of time in the.
AN OVERVIEW IN RESPECT OF CPP’S ON ALL INDIA BASIS.
Preparing Financial Documents The Income Statement & Balance Sheet.
Certification of Company Accounts Accounting : Art of recording, classifying and summarizing monetary transactions and events and interpreting the results.
1 Module 3. Recording Financial Transactions Dr. Varadraj Bapat.
COMPANIES ACT,2013 section 143 Advocate Arun Saxena Saxena & Saxena Law Chambers Advocates & Attorneys , New Delhi House, 27, Barakhamba Road, New.
The Income Statement Balance Sheet –The financial condition of the company on a certain date (a snapshot on that date) –What is OWNED and what is OWED.
3 rd Meeting of National Steering cum Monitoring Committee (3 rd December, 2010) Government of India, Ministry of HRD, Dept. of SE&L.
Review of Audit Reports Financial Year th Quarterly Review Meeting of Finance Controllers, New Delhi.
EXPECTATIONS FROM BRANCH AUDITORS Panel Discussion CA JAGDEESH DHONGDE.
, , Devloped By Deep Solutions.
CONCEPT & SIGNIFICANCE OF AUDIT CONTD… DEFINITION OF AUDIT The Institute of Chartered Accountants of India in its publication, General Guidelines on Internal.
Lecture 37 Income from Business. Exercise 4 on Speculation Business M/S ABC Ltd. a manufacturing company has furnished the following accounting information.
> > > > Understanding Financial Statements. Balance Sheet What is a Balance Sheet? A statement that shows –(1) How much money a company has –(2) How much.
EASYOFFICE A COMPLETE TAXATION SOFTWARE
Professional Tax Slab Rates
The Expanded Ledger: Revenue, Expense, and Drawings
Reporting requirements in Auditor’s Report as per recent changes under Companies Act, 2013 CA Anil Mathur.
BASIC ACCOUNTANCY.
Budget 2017 – Important Tax Implications
Regional Consultation, New Delhi February 10, 2016
Globoil India 2018 Mumbai 28th September, 2018.
TIME OF SUPPLY By CA Shubham Khaitan, B.COM (Honours), ACA, ACS, CFA(USA), DISA (ICAI) Partner - Tax & Regulatory, S. Khaitan & Associates ID:
INCOME STATEMENT INFORMATION ON A WORK SHEET
Manual Accounting & Computerized Accounting
Social Mobilisation Network
In the name of Allah Who is the most beneficent & the most merciful
Culture 8 - National Capital Territory of Delhi Culture 6B - Goa
Concepts and Objectives of Cost Accounting
Comprehensive Medical Assisting, 3rd Ed Unit Three: Managing the Finances in the Practice Chapter 12 – Accounting Responsibilities.
Recall: Balance sheet shows the financial position of a business for a specific point in time. Balance sheet shows assets, liabilities, and owner’s equity.
GST Audit & Annual Return
CA Mohit Bhuteria A.C. Bhuteria & Co. Chartered Accountants
Presentation transcript:

BIGGEST SCAM….With ROOT SOLUTIONS Till Date India has Seen Many Scams Like “Satyam”, “2G”, “Securities Scam – Harshad Mehta & Ketan Parekh”, “UTI Scam”, “Stamp Paper Scam” Etc. But All Came WITHOUT Solution(s).

Unique SCAM With “Root Solutions” This Scam is Coming with Not Only “Concrete Evidences” But also with “Permanent Solution(s)” to avoid such Scams Forever.

Case 1 To Save Income of Rs. 2,00,00,000 (Two Crore Only) of 1 Company from Income Tax Payment, 8 New Sister Concern Companies were Created by Preparing FAKE Expense, Cash Vouchers, FAKE Bills, FAKE Books of Accounts, FAKE Trial Balance, FAKE Balance Sheet & Profit & Loss A/c. And Same Companies Income Tax Returns were File along with FAKE AUDIT REPORTS Claiming LOSSES To be Carried Forward instead of Actual Profit. Amount Saved from Reaching The Govt. of India’s Treasury here is Atleast Rs. 60,00,000 (Sixty Lacs Only). The given above Case relates to Pharma Company and FAKE things were done by Renowned CA.

Case 2 Here Cash Income of Client Business was Not Recorded Intentionally. It was A Tax Audit Client of Partnership Firm having Project of more than 2 Years. Amount of Cash Income NOT RECORDED in these 2 Years was More Than Rs. 5,00,00,000 (Five Crores Only). These Incomes were recorded on Rough Paper File Register for Future Reference of the Client. CA Claimed Atleast Rs. 25,00,000 (Twenty Five Lacs Only) for Not Disclosing these Facts in his Audit Reports from his Client.

Case 3 Here in 1 of the Most Reputed CA Firm, Income Tax Returns of Clients were E-Filed with Income Tax Department. After E-Filing Income Tax Returns Balance Sheet, Profit & Loss A/c. and Other Books of Accounts along with Audit Reports were Altered (Changed) on the basis of E-Filing of Income Tax Returns.

Companies Registered with MCA Companies Registered with MCA (Ministry of Corporate Affairs) is More Than 8,00,000 (Eight Lacs Only). Now if CA is Saving Rs. 50,00,000 (Fifty Lacs Only) Average Revenue Per Company from Reaching The Govt. of India’s Treasury then Total Amt. = 8,00,000 X Rs. 50,00,000 = Rs.…………………..Crores.

Partnership Firms in India There are More than 20,00,000 (Twenty Lacs) Partnership Firms in India, more than 60% Not Registered with Registrar of Firms. If CA is Saving Average Rs (Fifteen Thousand Only) Income Tax from Reaching Govt. of India’s Treasury then Total Amt. = 20,00,000 X Rs = Rs…………..CRORES.

Net Worth of SCAM Atleast Rs (Rupees Ten Lac Crore Only) is the Minimum Revenue which will be reaching to “The Govt. of India’s Treasury” Directly without Any Blockages in the very 1 st Year of Application of “ROOT SOLUTION(s)” to the Issue / Problem by the Govt. of India.

Unique Submission of SCAM REPORTS Detailed “Evidences” with “ROOT SOLUTIONS” will be Sent Only to Smt. Sonia Gandhi And / Or Smt. D.Purandeswari, Union Minister of State, Human Resource Development, New Delhi And / Or The RBI Governor as per MEDIA Presentation Format Specified.

Preliminary Reason(s) to This SCAM These Confidential Documents will provide Details of How “REVENUE” is being “BLOCKED” From Reaching The Govt. of India’s Treasury, by “Compelling”, “Teaching”, “Training” And “Forcing” more than 7,00,000 potential youths to make FAKE (FALSE) Balance Sheet(s), FAKE Expense(s) Entries and Voucher(s), FAKE Profit & Loss A/c., And Filing FAKE Income-tax / Sales Tax Return(s) Etc. which in turn has / is hampering the Progress and Development of India and Common Man and also give rise to Heavy Taxes and Increasing Prices i.e. Inflation.

Support Received till Date CA Students, IIT’s, MBA & Youths of Universities From Maharashtra, Kerala, Andhra Pradesh, Chandigarh, Punjab, Rajasthan, J&K, New Delhi, Assam, Orissa, Etc. have supported and joined it thru Affidavits, Signature Campaign Etc. Advocate(s) and NGO’s from these States are also in support of the matter.

Unique Proposal for Public Support Mr.CHIRAG SAWANT Proposed to be Appointed As The President of The ICAI Immediately after retirement of Present President CA A.Chopra, after His Proposed Presentation before Ms.Sonia Gandhi before 20th December, 2010 in presence of All Medias round the country.

SCAM In the Interest of the Nation Leaded By…… Mr. CHIRAG SHASHIKANT SAWANT (A Student of CA FINAL of The Institute of Chartered Accountants of India) Mobile No.: rd Floor, Shelar Building, Above CANARA Bank, Shelar Wadi, Gokhale Road, Naupada, THANE. MAHARASHTRA. INDIA. And Friends From, MAHARASHTRA, RAJASTHAN, WEST BENGAL, UTTAR PRADESH (U.P.), MADHYA PRADESH (M.P.), ASSAM And Other States of INDIA.