Chamber News - March 2014

Since 1929

., a - ~

~

. ...

o

. . '.

".

ChamberNiiws Quarterly News Magazine of Malabar Chamber of Commerce

MULTIMODAL TRANSPORT HUB AT KOZHIKODE

KMMANI

RAJEEV PUTHALATH

DR. VP SHAMSEER

KTTHOMAS

Discover Happiness...

Near to Cyber Park,

Pal~

Call: 9544002222 9747900999

PVS APARTMENTS

KTC GROUP COMPANY

KTC Housing, KTC BUilding, YMCA Road, Calicut - 673 001 Ph: 0495 2766244, 2766362, Fax: 2766660 e-mail: ktchousing @ktcgroup.com www.ktchousing.com

SINCE 1958

Chamber

Quarterly News Magazine of Malabar Chamber of Commerce

ISSUE 12

COVER STORY

9 - 16

I MARCH 2014 •

Proposal For The Implimentation Of

MULTIMODAL TRANSPORT HUB AT KOZHIKODE

Editor Roshan Kynadi Editorial Board C. A. C. Mohan

•

Adv. P. G. Anoop Narayanan M. A. Mehaboob

MILMA: THE GOODNESS THAT KERALA WAKES UP TO EVERYDAY

• Lesser Known Tax Saving Tips I Deductions

Ram Mohan Kamath

umnu

M. Khalid

•

K. P. Aboobacker

a,a,0l!p 63m~

6TlJnu

20 14

llIIilruCi8JOclb<T>o n

Paul Varghese Ashok Putiyan

23 - 31

C. K. Abdul Rauf

CHAMBER IN ACTION

J. A. Majeed M. P. M. Mubashir

P. M. Mohamed Koya Design & Layout: V&W Westlife Advertising, Calicut Tel: 9400395022 Printing Premeela Press, Calicut For Feedback, Contributions and advertising queries, Contact: Roshan Kynadi The Malabar Chamber of Commerce 6/1165, Chamber House, Cherooty Road Calicut PIN 673032

INSIGHT

• Project Management : A vital skill for personal success

INFO LINE

32 to 37

Q&A How toprotect your trade mark

Tel: 04952365282,2365292 Email: malabarchamber@gmail.com Website: www.malabarchamber.com

XPO Trade enquries

38

PRESIDENT"S MESSAGE

T

he 16th loksabha election is around and its goingto be a momentous dayforthe country i.e on 16th May, when the results will be out.

All the political parties have published and released their manifestos with tall promises and assurances. Even if a quarter of the promises are fulfilled, our nation would not have been where we are. The aspirations and hopes of the people of India has to be

fulfilled by the new Government and I hope the electorate exercise its wisdom and choose's the best candidate, overcoming its usual bias of caste, creed and religion. lets all exercise our valuable vote for a strong and decisive Government who can unleash the latent potential of India and take us from the developing World, to a developed world, where every citizen is respected, free and lives in an environment were he can flourish.

We are living in an age of consumption and economies grow due to consumption. While on one hand we consume, we are also generating waste and it'stimewe learn howto handle this.

Your Chamber has taken the lead to form a forumn WoW - Kerala "Wealth out of Waste", along with other trade bodies this KSSIA, KVVES, CREDAI, KPMAetc. with a vision to convert waste into wealth by adopting basic good practices in handing them.

WoW Kerala would like the people to be conscious about it and together find means to segregate the waste as bio degradable and non bio degradable at source and treat accordingly. Waste (Non bio degradable like plastics, metals, papers and other packing and household items) can be recycled and put to good economic use thereby generating wealth and employment. The bio degradable matter can be treated and converted into blogas, vermicompost and organic manure which can enrich our soil. With the help of students and society, the programme would like to inculcate good civic sense and propagate measures on solid waste management. WoW. Kerala has a vision that whatever infrastructure is built at a decentralized level shall be managed by the stakeholders in Panchayaths, residents associations, schools and college campuses, markets.

WoW Kerala after three years shall hand over the same to the stake holders and will mentor these

organizations on a continuous basis. Please support this initiative by way oftime, money and inculcating and propagating this idea which is the need of the hour "let us all together take a pledge to make Kerala one of the cleanest states in India by converting all wastes in to economic resources".

Alok KumarSaboo President

FROM SECRETARY"S DESK

T

he last 3 months ofthe financial year was not so encouraging scenario forthe business houses in general. There is a marked slow down

in economic activities within the State and outside. The VATcollection by the Kerala Government has drastically come down and the

crisis in delayed payment of outstanding bills by the government is very alarming.

The Budget by the Kerala Govt. was not at all positive. Many pension schemes were given more thrust, considering the vote bank, as the elections are fast approaching. This will cause a heavy burden to the state in the coming days.The Union Finance Budget was vote on account and hence the Chamber is looking forward forthe complete budget by the incoming new Government. We have submitted a list of proposals for that through FICCI and will be actively following it up. Hope we will have a stable government at the center with a business friendly

outlook.

The activities of the Chamber was at a low key. But the attendance was very good for the programmes conducted. We honoured Dr. Shamsheer V.P., son of our member P.K. Hashim, for the honour he received (Pravasi Bharatiya Samman Award 2014) from the Government of India. He is the youngest NRIto receive this award. Our best wishes to him for an excellent future. The interactive session on Service Taxon Works contract was a big success.More such programs are lived up forthe future also.

A.Shyam Sunder Han. Secretary Sineel'29

The Malabar Chamber of Commerce, Calicut

os

~

Jam

~

Squash

~

~

Soft drink Concentrates

~

Pickle

KILBAN FOODS INDIA PVT. LTD. Poovattuparamba, Calicut, Kerala .Tel: 0495 2492574

EDlTOR"S COLUMN

The Transformation of India: From a Supplier of cheap unskilled labor To The IT Capital of the World ill 1995 every economist around the world predicted

T

and small during this period. Within a short span of time,

that India - a country, with absolutely no control on

using franchisee model, these organizations took computer

population growth, would end up becoming the

education to every nook and corner of India. There were

supplier of cheap unskilled laborto the rest of the world. But

premium organizations catering to the upper segment of the

by 1997 Indian ITprofessionals were so much in demand that

society and there were low cost organizations catering to the

Indian IT professionals played a major role during the dot-

lower segment of the society.

com bubble in Silicon Valley between 1997 and 2000. Bythe

advertised heavily to attract students to computer education.

year 2005 India became known asthe ITCapital ofthe world.

All this put together created a new generation of Indian

These organizations

youth. Over a period ohime Indian youth became the best IT What isthe reason for th is change?

What causedthis transformation?

professionals in the world. During the dot-com bubble

It was during the 80's that computers first came to India.

before going for a public issue, recruited an Indian as Vice-

Those days' computers were very expensive to buy. Setting

President or Director. An Indian name in the company helped

up a classroom for computer education was a very expensive

them in sellingtheirshares ata premium. Thatwasthe kind of

proposition. The Indian economy at that time was in a very

brand value that the Indian IT professionals commanded

bad shape. The borrowing capacity of India as a country was

world over. Till the 80's India was the largest exporter of

very low. World Bank or IMF was not prepared to borrow

Cheap Unskilled Labor to the world, but by 90's India instead

money to India. Because of this reason, the Government of

of exporting CheapUnskilled Laborstarted exporting the best

India and almost all the States of India stayed out of

IT professionals in the world. And the biggest contributor to

Computer education. Computer education was left to the

this change was the decision by the Government of India and

private sector to invest and develop. It was during this time

the various States of India to stay out of Computer education

that organizations like NIIT, Aptech, Datapro, LCC etc. were

and to leave computer education to the private sector to

formed. Thousands of organizations were formed, both big

invest and develop.

between 1997 and 2000 most IT companies in Silicon Valley

Roshan Kynadi 9895094940 E-mail: roshan.kynadi@gmail.com

Sinc:et929

The Malabar Chamber of Commerce, Calicut

GET FLOORED WITH THE

PARAMOUNT OFFERINGS

I,

HOT

E

L

PARAMOUNT TOWER Town Hall Road, Calicut - 1, Kerala. Tel: + 91 495301 5581 /82/83/84/85 Fax: + 91 495 272 8801, Email: mail@paramounttower.in

---------- ..2%rr~----------

&>a1ucci

the multi luisine family restaurant

O~Dak the BBQ & sunset point

. ~.

COVER STORY

Proposal For The Implimentation Of MULTIMODAL TRANSPORT HUB AT KOZHIKODE The dream of Mr. Rajeev Puthalath, RTO., Kozhikode Multimodal Transport Hub

ulation consists of both settled population and floating

Multimodal Transportation Hub (MMTH) explores the co-

population. Apart from this the city is merging point of 4

ordinated use of two or more modes of transport for speedy,

National Highways, Railways,and Air Transit. Lot of commuters

safe, pleasant and comfortable movement of passengers in

are forced to come to the city as an intermediate point of their

urban areas. It provides convenient and economical

destination and the city acts as a travel hub for various

connection of various modes to make one complete journey

destination and mode of transport.

seamlessly from one point. Generally, MMTH has been characterized by increased capacity, efficient accessand better

Urban population is growing at high rate in the Asian countries

location of both integration and nodes. Public transport is an

especially in India. Kozhikode is also facing the same

important constituent of multimodal transportation system

phenomena. Lot of migrants are settling in the city for

and hence local and regional public transportation system

employment, study, and even medical treatment purpose.

must be an integral part

Easy access of all the travel

ofthesame.

facility

It requires high quality

major cause behind this

including

international airport is the accessibility

of buses,

phenomena.

trains and other modes.

By year 2020 the situation is

It also includes train

expected to become more

movement network,

complicated.

feeder

ser-vices,

maximum & minimum

Existing Public Travel Facility

capacity of various

at Kozhikode

modes, models for predicting departure & delays, etc. The

Combination of Public transport and own mode of transport is

concept of multi-modal transport junction refers to a centre

existing in the city. Private stage carriage service, KSRTC

for passenger flow conversion on a multi-modal transport

service, along with Rail service consists of Public transport. We

network node. It is affected by location, number of transport

are expecting mono rail connectivity in the city very soon. Auto

routes linked, scaleof its radiation and services, etc.

/Taxis are the intermediate form of transport, which connect the Public transport and destination point and vice versa.

Multimodal Transport Hub(MMTH) explores the use of multiple modes of transport for safe, convenient and efficient

Private stage carriage service is sub divided into City Service,

movement of passengers. Generally, MMTH has been

Intercity or Long Distance Service and Interstate Service.

characterized by increased capacity, efficient accessand better

KSRTC services can be sub divided as Local Service, Intercity

location of both interchange and integration nodes.

Services and Interstate Services. City is having a bus stand at

Additionally, presence of MMTH in metro region enhances

Palayam, Moffusil Stand at Mavoor Road and KSRTC BusStand

accessibility, economic growth, public health, environmental

is coming up on Mavoor Roaditself. Each of these bus stands is

protection, security & safety, social cohesion, etc.

located at a distance from each other, within the city limit itself, with road connectivity that generally remain congested.

Necessity of MMTand MMT Hub at Kozhikode

All the long distance buses are directly entering into the city

Kozhikode city is a fast growing metro city in the state. City pop

through Baby Memorial Junction orthrough Nadakavu which Sineel'29

The Malabar Chamber of Commerce,Calicut

COVER STORY near future. People coming from long distances come in train and will opt City Service or Mono Rail to reach their destination. And those who desire to continue their journey by bus, either in private or KSRTC prefer intermediate mode of

I

transport (auto rickshaw, taxi etc) to reach the respective bus station. They have to spend considerable time to catch the required mode of transport. The city roads are not so wide and are congested most of the time, so free flow of traffic is not possible and a lot of time is wasted in the intermediate mode of transport itself.

Frequency of Buses having more than 50 km route length, and travel demand in the city

1.

Palakkad-Thrissur Sector.

135 long distance buses are operating in this sector at a frequency of one every 2.5 minutes.when leaving the Moffusil bus stand, they take the Jail Road route and converge with

Scope of MMTs In the city

other traffic at Puthiyaya and continue upto Ramanattukara.

One of the possible remedy to restrict the city congestion and

Another 80 buses operate on Manjeri - Nilambur route. They

thereby to reduce road accidents and to increase the city

too operate on the same route, at a frequency of one every 4

mobility, a Multi Modal Transport Hub at a convenient spot is

minutes.

highly recommended.

The returning vehicles too share the same route from Ramanattukara till Puthiyara. From puthiyara, these vehicles

Proposed Location

run via Arayadathupalam Junction and I G Road before

Finding the location is the most important part. The MMTH

reaching Moffusil BusStand.

shall be located at place in the outskirts of the existing city. The

2.

Kannur- ThalasserySector.

place shall have opening to the NH 17 and NH 212,213 and

3.

At present 100 buses service this sector at a frequency

should have mono rail connectivity and it should be within a

of one every 3 minutes. In addition there is the Kuttiadi-

short distance. We are suggesting the location in between

Pashukkadav route, where another 10 vehicles are operating.

Malaparamba and Thondayad Junction.

Another 15 long distance buses ply the Wayanad route, at 30 minutes intervals.

Reason for locating this place a) This place is almost an intersection point of highways to

Present Issues ofTransport in City

1)

Kannur-Kozhikode

The merger of all these mode of public transport with own

2)

Waynad-Kozhikode

(private) mode of transport like motor cycles and private cars

3)

Trissur- Kozhikode

and non motorized form of transport reduce the average city

4)

Palakkad-Kozhikode

speed and consume more time to complete the journey. b) There is a proposal for the monorail connectivity to Malaparamaba side. c) This place is easily accessible to Cyber Parksand Airport. d) Very near to Medical College e) Vacant lands available on both sides of highways. f) Very nearto city.

A sketch of one of the identified land is attached here with REQUIREMENTSAT MMT HUB KOZHIKODE Section I a)

RoadTransportTerminals

Terminal 1

Inter city and inter state private buses

Terminal 2

Intercity and interstate terminal for KSRTC

Terminal 3 Terminal4 TerminalS Terminal 6

Local busesconducting servicesto the rural areas City serviceand Lowfloor services Comfort serviceto Airport All India Tourist Busserviceto various states

b) Mono rail Connectivity 1 Services to the city 2 Services to the Medical college direction 3 Serviceto the Airport ( optional) c) Intermediate Mode ofTransport 1 Taxi bays 2 Auto stands 3 Contract carriageTerminal d) Non Motorized Mode ofTransport 1 Cycle Stand(alsowe can providing hiring of cycles) e) Helipad for emergency and for disaster management alsocan usefor tourist purposes.

Section II Infrastructure Requirements (Parking Facilities) 1 2 3 4 5

ParkingBay forat least 3000 MotorCars(canoptfor multi level) ParkingBayfor M cycles(2000 nos) Parkingbayfor Contract carriagevehicles(200 nos) Pa rking bayfor at least 200 nosof Buses after services.

Longdistance trucks parking bays.

Infrastructure requirements (Amenities) 1 Comfortable hotels include 3 star and 5 starfacilities.

2 Restingrooms forthe buscrews 3 Motels with resting rooms for long distance passengers and drivers of carsand truck drivers.

4 Variouscategoriesoffood courts

5 6 7 8 9 10 11 12 13 14 15 16 17 18

Dormitories Cloakrooms Entertainment areasfor passengers Publicinformation displaysand systems.

Toilet facilities Spareparts shops Fuelfilling stations workshops Shoppingarcades Filmtheatres Policecontrol rooms Control stations for MV dept Survigilance camerasystems Others

After the implementation of the MMTH we can convert the palayam bus stand as multi level car parking place and the mavoor road moffusel bus stand can be used as the termini point of the busesfor short distance( below 50 kms) buses.All other long distance buses have to be terminated from the MMTH. Sothe long distance passengers arriving at MMTH can opt for city buses, mono rail, taxis or autos or even he can opt for bicyclesfor hire.

The traffic congestions in the city especially at eranhipalam jn, BMH jn, nadakavu, palayam,jailraod jn., mavoor road, rajaji road will be reduced to a great extend.

RTA have to put a restriction to convert all existing city service busesto low floor city servicesupon renewal of permits.

The proposal is submitting for further detailed study and for necessaryaction.

Rajeev Puthalath, BE (Auto.Engg) R&DTeam leader (Engg.wing) MV dept.

RTOKozhikode Sineel'29

The Malabar Chamber of Commerce,Calicut

THE GOODNESS THAT KERALA WAKES UP TO EVERYDAY KTThomas

Managing Director, Milrna, Malabar Region

Y

ear: 1981. Place: Head Quarter of the National Dairy Development Board (NDDB) in Anand, Gujarat.

We, a team of young professionals, were being addressed by Dr. Verghese Kurien, the Father of the Indian White Revolution. "You are my dream team! Go and replicate the 'Amul Model' in Kerala,"he declared.

The group included Dairy Technologists, Veterinary Doctors, Agricu Itu re Grad uates, Cha rted Accountants, Engineers etc, etc. All of us were recruited one year back and were thoroughly trained in the Village Milk Cooperative Societies and Dairy Factories of the Amul network in Gujarat. The group was christened as 'The Spear HeadTeam'. We were supposed to possess the piercing instinct!

It was about two years back that Smt. K.R. Gouri Amma - the then Kerala Agriculture Minister - had visited Anand. "I am fed up of my officials. Our milk production is in pathetic situation. The commercial institutions and government departments that survive in the name of dairy farmers are simply gulping public funds. Kurien, please do something for your birth-state too," she lamented.

Kurien put forth his conditions. "I will create my own cooperative organization. It will be owned by the dairy farmers of Kerala. Government has to hand over to it all the commercial dairy establishments.

The employees have to take farmers' salary, remaining accountable to them. The current ones have to resign and join as farmers' employees; or else the government should take back them to their parent departments. There should not be any interference in the affairs of the cooperative." Thus

12

ChamberNews

was started Milma in 1980; and we, the newteam of professionals, were recruited for the 'Kurien Mission'.

Now in 2014, Milma has grown to a Rs. 2400 crores turnover organization owned by over three lakhs dairy farmers of Kerala. It is the most popular commercial brand in the State, handling over 13 lakhs Iitres of milk every day. For Keralites, Milma means guaranteed availability of quality milk and milk products at fixed price, anytime everywhere!

Kurien's vision was simple. "Farmers will produce more only if they are guaranteed of regular market and remunerative price. For this, they need to be empowered in the market; because, market is the place where money is. This urban consumermoney hasto get channelized to the rural producers through an efficient production- procurementprocessing- distribution system."

How would this empowerment happen? It happens through a democratically managed cooperative organization owned by the farmers. It maintains own professionals. They apply technology and employ top-class management techniques. Exactly, this iswhat Milma is all about.

The organization runs in a three-tier model. There are over three thousand cooperative societies at the grassroots level. They have amalgamated into three Regional Milk Unions at Malabar, Ernakulum and Trivandrum. At the State level, there isthe apex Federation. Each hasassigned functional roles.

The Malabar Region of Milma was not there in the original 'Kurien-Mission'. It came into existence in 1990 after the Trivandrum & Ernakulum Regional

establishment the new-generation dairy farms.

The Cattle Feed Plant at Malampuzha supplies over 7000 tons of Milma cattle feed per month at subsidized rates.

The Milk Powder Plant at Alappuzha is a common facility that converts the seasonal surplus of milk in to milk powder. The annual profits are ploughed back to the farmers as accident and death insurance, medical treatment, veterinary charges, children's scholarships, rural milk chilling charges, society building grants, cattle shed renovation funds, trainings and visits, cattle purchase corpus, farm mechanization subsidies, The graph shows a drastic dip in milk procurement feed and fodder, insemination subsidies etc. Such during 2010-11. This was when the government supplementary supports (other than the regular interfered in the milk pricing and curtailed timely milk price) range from Rs. 25 to 40 crores every year. rise. The farmers deserted production. Milma had It has introduce Milma Chechis, the trained rural to beg to other Statesfor milk. It was contrary to the workers who, through commitment given to Malabar Regional Co-operative Milk Producer's Union Ltd . the hand-held Kurien years back.

Average Procurement & Sales of Milk (1990 - 2014) . ~--~ minicomputer given to Finally Milma had to 600000 .-------.::===~~ each of them, do the go to the High Court to get obtained the 5000 001 - . nutrition balancing by linking each cow to the pricing freedom re400000 I ---------------~ central server in est a b lis h e d. The {300000 I- - - - - - - - - - - -...-r:.-ÂĽ- =---- - - Anand. home-production has :; picked up then after.

200000 I ---------.-L~~~=--------I At the sales front,the number of retail Malabar Milma is outlets has crossed head quartered at oL.-----l 8000.

These include Kunnamangalam with D'i'J" "r;;t'l,. ~rJ'o}<9>~ b 9J'o b~ ~9Jfb 9J~rfJ~ D'i:J " ,,';:J'\, ~"J ro,tJ' ~';:J~ b';:J 'o rot$' ~';:Jfb 'b';:JOJ<fJ~~ ~:-." ,,:.

'1, ~~ ,,~ OJ q OJ OJ OJ OJ q OJ cs "~oÂŤ~ the new generation 6 northern districts as ...."'~q exclusive parlors ,'" its area of operation. called Milma Five Dairy Plants in Shoppees. The existing five dairy plants are under Kozhikode, Kannur, Kanhangad, Kalpetta and expansion. Two new dairy factories are coming up Palakkad handles up to five lakh liters of milk a day. in Sreekandapuram (Kannur) and Moorkanad There is a separate Milk Products Factory at (Malappuram). Altogether, expansions to the tune Beypore and a new Ice-cream Plant in of over 150 Crores is on the anvil- targeting to Kunnamangalam.

Besides Pasteurized Milk, handle up to 91akh Iitres per day by 2018.The sister Malabar Milma produces popular products like organization created by Milma - the Malabar Rural Ghee, Curd, Sambharam, Peda, Ice-cream, Butter, Development Foundation(MRDF) - has recently Paneer, Gulab Jamun, Flavored Milk, Instant Palada ventured into vegetable cultivation and sales (The Mix etc. Ghee is exported to over 15 countries, Milma Green) following the dairy model. particularly to the Gulf. Out of the total turnover of We inspire ourselves to the words of Dr. Kurien: Rs.733 crores gained by Malabar Milma during "Our markets are the birthright of our producers.

2013-14, Rs. 175 Crores is from value- added The smartness is in creating wealth from there and products. dissipating to our producers. That isthe sacred duty The future challenge is to produce enough milk to of the technocrats and managers". We pledge to retain the growing markets. Towards this end, there remain the 'goodness that Kerala wakes up to' is continuous induction of thousands of cows. The (adb(l)~o db6m1 db6TlS},6m(l)},(Tl) mCl2l)forever.

"Farm Support" wing exclusivelytakes care of the

Unions succeeded under the NDDB-funded Operation Flood project. The Malabar Regional Cooperative Milk Producers' Union came into existence later in 1990 under the grant and loan support from the Swiss Agency for Development Cooperation (SDC). It has already fully repaid the loan with interesttotalingto Rs. 25 crores.

The following graph of growth in the milk procurement and sales self-speaks of the of the Malabarsuccess.

a:qft:J

(S

c;)

c;)

<:l

(S

c;)

(S

"'''

Sineet'29

The Malabar Chamber of Commerce,Calicut

13

COVER STORY

14 --_..I

Lesser Known Tax Saving Tips / Deductions

CA Sandeep Kanoi

F

or most ofthe people 'tax savings' brings to mind life insurance, PPF, NSC, and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80 C of the Income-Tax Act. An individual can claim tax deductions of up to Rs 1 lakh under 80C. However, there are other lesser known avenues that offer additional tax breaks to individuals. They are not widely discussed as they involve special situations in life such as having a special dependant, paying rent to parents, owning a house in another city, and so on. Here is a small list you could explore. Paying rentto your parents Do you live in your parents' house? You can pay them rent to claim House RentAllowance exemption. This is possible only ifthe property is registered in the name ofyour parent.

The owner will be taxed for the rental income after a 30% deduction. So, if you pay your father a rent of Rs 3 lakh a year (Rs 25,000 a month), he will be taxed for only Rs 2.1 lakh. If your parents are retired and do not derive any significant taxable income, the amount ofrent would be tax free in their hands. It is advisable that you enter into an agreement with them and actually make the payment every month, preferably by cheque.

It gets better if the property is jointly owned by both parents. Then you can divide the rent two-ways so that the tax liability gets split between the two parents. If their income exceeds the basic exemption limit, you can help them save tax by investing in their name under Section 80C options such as the Senior Citizens' Saving Scheme, fiveyear bank fixed deposits or tax-saving equity mutual funds.

Take a look at the example to see the tax implications. Let us assume your monthly basic salary is Rs 40,000 and HRA is Rs 16,000. Your monthly rent is also Rs 16,000. In this case, of the total monthly HRA, Rs 12,000 will be tax exempt. Assuming you are in the 20% tax bracket, your _

ChamberNews

QuartenyNews Magazineof MalabarChamberof Commerce

annual tax saving would be Rs 29,664.

Please note that you will have to submit copies of rent receipts or rent agreement, depending on what your organisation stipulates. However, avoid claiming tax benefits on rent payments made to the spouse as the arrangement can be characterised as a sham transaction, say experts.

Read aboutHouse Rent Allowance (HRA) taxability, working / calculation Tax Benefits - House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA) Renting and Home loan in two different locations Individuals today are constantly on the move for better job prospects. This could result in a person living in a rented place in the city he is working while repaying the loan for a home bought in his native city or any other city. In such a scenario, the rent that an individual pays is eligible for HRA exemption. Further, a deduction can be claimed on the interest paid for the housing loan used to purchase the property at the native place/any other city.

Let us assume your monthly basic salary is Rs 40,000 and HRA is Rs 16,000. Your monthly rent is Rs 16,000 and annual interest payment on your housing loan is Rs 1.45 lakh. In this case, ofthe total monthly HRA, Rs 12,000 will be tax exempt in your hands. Further, you can claim deduction under section 24(b) ofthe Income-TaxAct, 1961, on the interest payable on your housing loan.

For claiming HRA exemption, you need to submit copy of the lease agreement or rent receipts. For claiming deduction on housing loan interest, you need to submit a copy of the tax certificate issued by the housing finance company.

FAQ on Housing Loan & Income tax benefit TaxabilitypfsecondHouseunderIncomeTaxAc1,J.961

_

Deduction of Interest on Borrowed Capital From House owned.

Tax & Loan Eligibility benefits from Home loan in Joint Property income Set off of Capital Loss Against Capital Names Educational expenses ofChildren Gain It is well-known that the deduction under section 80C is While most of us know that we need to pay taxes on short term or long term capital gains, not many are aware of the available to an individual in respect of the tuition fees of his/her children with an overall limit of Rs 1 lakh. The fact that capital losses, if any, can be balanced off against gains. So, for instance, ifyou have made a long-term capital deduction, however, is not available for capitation gain of Rs 15 lakh by selling off your property and longfeesldonation collected by the school or college. There is term capital loss of Rs 3 lakh by selling stocks which are another section in the Act (section 80E) which provides for either not listed or are sold off market , the total taxable deduction in respect of interest on loan taken for higher amount would Rs l Z'lakh. education.

Please note Capital Gain on Sale of Shares sold through The educational loan can be taken for any course pursued Stock Exchange can not be set offagainst other capital gain by the individual or the spouse or children ofthe individual as profit from sale of shares of listed companies through post the senior secondary course or its equivalent. stock exchange in exempt.

This deduction is also available for supporting the It is important to note that short term losses can be balanced education of a relative provided the individual is his/her off against both short term as well as long term capital legal guardian. It is allowed for a maximum of eight years gains. However, long term capital losses can only be starting from the year in which the interest is first repaid. balanced offagainst long term capital gains.

Deduction on children's education u/s. 80C & 80E Health Carry Forward and Set Off of Losses -Income Tax Charity Insurance to noble causes count A deduction ofup to Rs 15,000 can be claimed in respect of the health insurance premium which one pays for covering Charitable contributions are deductible up to 10% of your income under Section 80G. Depending upon the institution oneself and or the wife and dependent children. You can to which the donation is being made, the deduction can be claim an exemption of Rs 15,000 on premium payments made for parents and a higher deduction ofup to Rs 20,000 either 100% or 50% of the amount donated. You must ifone ofyour parents is a senior citizen. However, in case of Ensure that you obtain a receipt from the institution and a copy of their income-tax exemption certificate. Instead of company insurance, only the organisation can seek tax giving the money directly to the needy and not getting any reliefand not the employee. deduction, you can make a charitable contribution to an Deduction Dis 80D for Mediclaim Premium to Individual, HUF and Senior Citizens NGO that provides assistance to the needy. The individual Have an ill dependent to look after? Pay lower taxes is then able to get a tax deduction while still contributing to The income tax department understands that chronic illness a noble cause. ofa dependent can empty your life savings, and paying full Deduction Dis. 80G ofIncome Tax Act, 1961 for donation Contributions to a political party taxes in such cases is burdensome for any taxpayer. Hence, If you have contributed any amount to a recognised it allows a deduction of Rs 40,000 (Rs 60,000 if the political party, you are eligible to claim a tax deduction dependent is a senior citizen) per year, under Section ranging from 50 percent to 100 percent ofthe amount under 80DD6. Dependants include siblings, children, parents and Section 80GGC for individuals and Section 80GGB for spouses. corporate organisations. One can contribute up to 10 This deduction is available for specific diseases, which percent of one's gross total income to a political party. include many neurological diseases like dystonia Home loan andjointhome loan musculorum deformans, aphasia and Parkinson's disease, The principal repayment of the home loan qualifies for hemiballismus, ataxia, motor neuron disease, chorea, deduction under section 80C; the interest payable on the haematolbgical disorders, chronic kidney failure, and a few home loan is allowed as deduction under section 24 of the more.

Act. The deduction in respect ofthe interest is available in In order to claim this deduction, it is important that the full for properties that are treated as let out, but in case of a patient should be dependant on the taxpayer, and should not property treated as self-occupied, the amount cannot have filed for such a deduction separately. Deduction under exceed Rs 1.5 lakh per financial year, subject to certain section 80DDB with FAQ Deduction for medical expenses incurred on disability ofSpecial dependants - section 80DD conditions.

In case any of your dependants suffer from a physical or However, you cannot claim interest deduction when the flat mental disability, you can claim a deduction under section is under construction. The interest paid during the per80DD for an amount ofRs 50,000 (if the disability is less construction period can be claimed as deduction in five than 80%) or Rs llakh (ifthe disability is 80% or more). equal installments starting from the fmancial year in which Dependants for this purpose can include spouse, children, the construction is completed. Where the property is jointly parents, brothers and sisters, or any ofthem. To be eligible owned, with the share ofeach owner being definite, the net taxable annual value ofthe property is apportioned to each to claim the deduction, you must obtain a certificate in ofthe joint owners in the ratio oftheir share in the property.

Form lOlA from a doctor with the prescribed qualification and working in a government hospital.

And, as the shares are definite, each holder is eligible to Sineel'29 .claim a-separate- deduction.in.case.the.property is-jointlyThe Malabar Chamber of Commerce,Calicut

You will have to submit the copy ofthe certificate in Form 1OIAto the payroll department ofyour organisation.

Scope of Deduction - Deduction can be claimed for dependent parents, spouse, children and siblings.

Dependents must not have claimed any deduction for their disability.

Deductions are permissible in either ofthe following cases. a) Costs incurred for medical treatment, training or rehabilitation of a disabled dependent, including amount spent for nursing. b) Amount paid towards an insurance scheme for the maintenance of your disabled dependent in case of your untimely death.

Meaning ofDisability- Disability means a person suffering from 40% or more ofany ofthe below disabilities. A severe disability condition is 80% or more ofthe disabilities. a) Blindness and Vision problems b) Leprosy-cured c) Hearing impairment d) Locomotor disability e) Mental retardation or illness Please Note a) Individuals would need to produce a copy of the disability certificate as issued by the central or state government medical board to claim deduction. b) Insurance policy obtained must be in your name and should be a policy for life. It could pay either an annuity or a lump sum amount for the benefit of the dependent on your death.

If the disabled dependent predeceases you, the c) policy amount is returned to you, and treated as income for the year in which you receive it, thus fully taxable in your hands.

Deduction u/s. 80DD for expenses on medical treatment of disabled dependent Medical expenses for specified diseases like AIDS, Cancer (Section 80 DDB ) The actual expenditure incurred on treatment of specified disease such as AIDS, cancer, neurological diseases, etc., is deductable to the extent of 40,000 or the actual expense whichever is lower. The limit is increased to 60,000 in case ofexpense incurred for a senior citizen.

Scope ofDeduction - Deduction is applicable for treatment of self, spouse, children, siblings, and parents, wholly .dependent on you.

Diseases covered a) Neurological Diseases (where the disability level has been certified as 40% or more). b) Parkinson's Disease c) Malignant Cancers d) Acquired Immune Deficiency Syndrome (AIDS) e) Chronic Renal failure f) Hemophilia g) Thalassaemia Pointto Note1.

Ifyou are already receiving any reimbursement for the treatment from your insurance company or employer,

16

_ _ _oJ

ChamberNews

QuarlertyNews Magazine of MalabarChamberof Commerce

deductions cannot be claimed. If you are receiving partial reimbursement, the balance amount can be used for a deduction.

2.

A certificate would be required from a specialist working in a government hospital, as prooffor the specified ailment. Deduction for rent paid if you are not availing HRA You can claim a deduction for rent paid to the extent of 2,000 per month even if you don't receive HRA from your employer or you are self-employed. This deduction, available under Section 80GG, is subject to some conditions.

To Claim the deduction Neither the taxpayer nor the spouse should own a house at the place of employment. They cannot be self employed, which includes businessmen or professionals. Lastly, the tax payer should not self-occupy his/her house at any other place.

Section 80GG Deductions - For rent paid Amount paid under National Pension System "The contributions made by an employee to the NFS qualify for a deduction under 80CCD and the upper limit of 1,00,000 under Section 80C ofthe Act. However, effective April 2011, employer contributions to NPS up to 10% of th6 employee's salary would qualify for an additional deduction. Foreign taxes Many individuals take up overseas assignments and as a result earn income both in India and abroad. In the event they face taxation in both countries, they may avail credit of taxes paid overseas while filing their tax returns in India.

The Indian tax laws as well as tax treaties signed by India with other countries prescribe provisions for claiming credit offoreign taxes.

Repairs and maintenance ofhouse property You will never forget to claim deduction of interest on repayment of your home loan, but not many people know that any interest paid on home loan for reconstruction or repair ofthe "house property" qualifies for deduction ofup to 30,000, subject to the overall limit of 1,50,000.

Exemption from capital gains Ifyou have made any capital gains on the sale ofresidential house property, such capital gains shall be exempt from tax, provided you purchase a new residential house one year before or within two years after the date oftransfer; or you incur expenditure on construction ofhouse property within three years from the date oftransfer. Alternatively, to avail exemption, a tax payer may also invest the gains in REC / NHAI bonds, subject to specified conditions.

With most companies closing investment declaration by Febuary end, you still have some time to widen your tax relief. Think, execute and file your investment declaration and seek optimal tax benefits. These deductions, along with the common ones like medical benefits, HRA, home loan EMIs, etc. can help you save a considerable amount of tax every year.

(gcQ((}~J

u

u

61lJCUJmo 2014-15 n

lml>6TTSOo nJ6rnlJCl.Klm)CO nJ~.oco5lcw!6>S QllCTnOo ru0n!11aml)K:Qlce65 cfb5<B6l!CTn aru~am, 2014 - 15 ru0n!1:1amnlaQl<fl6>!~ rruorrunom 6TlJruJ~g acfbCO§ uxn Qllml>l lW"l.6>cfb.n(j)o.QlO6ml «rnla~loB .!l.JC01CO>nJ COQlO<D> 12-00 6TlJ~g n(j)CTn lnJaem.\cfb«OO<D>OS! cfblSl 2014 mm! rucol 24 en acfbCO~ ml<D>QlcrulS<Dflam «rnlnmco~l~. «rnlem1COlcfb9::l QlO<D> rulQI<fI6>Wgo, cruOCTlKlml>lcfb QlOCT3.\o, cfbcnXmlCOl COocnCT8 01a~00§ @<D>mamn1rul§ ~(Jt)lfbcfbun, ruCO!CTn aQlOcfbCTUlSO 6>emC06>6nffil)5!ij em!S6tfBl<D> ruln!OOlJ6lffiun cfb6TlOOl!CTn1QJ!6TTS0<D>1 §!o «rnl6>emOCTn!o cfb06m06>em 63CO! emlcfb6Tlffil) cru0<fl6>CTU!cfbO C06>og 6>QlW ~\9<fl6>aamn06>S 6TlJmg em~ooo<fl6>l «rnlnmco~~l co1<fl6>!cfb(D)06T"O. cfbmJemlCOl COocnCT8 01ac;!d00§ nJCm.I1QlC1QJ§ aQl6lJQJ<D>lam cfb00n!1:11cfb COocnamn!6TTSO<fl6>!6>Qlcm lnJ.!l.JCO~1<fl6>!CTn lS"lcfbCOlZlO<D> cruOnf).!l.JCO,\o Qlo1cfb5<B6lO6>mCTn em<OOffil)lam rrooeo cfb0n!1:1 cfb0<fl6>!0, 6>6>nf)6>Sdh cfb0d1:1ee:.0<fl6>!0 mamcfbOffi!acpo1<fl6>!CTn ~m! cfblQl.\~!6>S 6>nJCO!Ql\9 CO>6>cm<D>O<D>l 6TlJ~g. n(j)CTnOam lS"lem1<D>!6>S Ql!unQl!rrx:oJlam cfb\91<D>!CTn nJU!!lJ1QlClQJ§ aQl6U9.J<DJl6>QI cfb0d1:1ee:.0ce65 <D>06>emOCO! cruomnmru!o mamcfboCT8 gQ'D lnJ6lJ.\O n.KTJ6lJBunce65 cfb\91EiTlm»§16>~06Tl1 rulQ1 coSlco!amnam. «rnlem1colcfb9::lQl0<D> rulQ1<f16> <D>go m1<D>lml>1<fl6>!ruoCT8 <D>06>emOCO! mSnJ Sl<fl6>!O @'DCTnam mamcfbKI»l6>~cm QlOlem Ql~ 1Scfb9::l.\ a<D>ocn.\QlO<D> n(j)6p6cfb6>~ 1% mlcfb!emKD)lam mlcm 5% mlcfb!emKD)l aQlwce65 @<D>0amn1<D>em!0, em!6m1amnco 6lfI3un nJ!eml<D> mlcfb!eml lnJ6lJ.\OnJmru!o cruoWOC06TT)<fl6)OC06>oB mlem.\ml'3om 6>.!l.JQI ru!cfbun ru0~1<fl6>!cfb(D)06Tl1 6>.!l.J<rlXoxo'5.

ClJOm5!m.\crilcfb!co5I ClJcfb!?d!12l0CDSI 6TlJCTW 6>?da nJ!co5I<D> crilcfb!co5I crilc8ap6lfl3u8: 1.63CO! 6>cfbwcrulen 400 colnJa<D>O «rnlemlam cfblS!emaQlO ru06lfl3am rulQJ<D>!~ rulaB (Jt)Ql(3.\amnl6>oB mlcfb!eml 105% am mlCTn!o 115% ~<D>!o 6TlJl<D>0, 6>6>ruCT8 n(j)CTn1ru <D>!6>S mlcfb!eml 50% am mlCTn!o 60% ~m>1 ru0~1~l.gz1!. lnJem"lcfb9::l1<fl6>!CTn «rnlu51cfb ruCO!QlOmo 400 acfbosl COlnJ. 2. 63CO! cesosl COlnJ<fl6)!aQlam em!6m1CO>co 6lfI3un rulamc;!dm mSaml>!CTn ru.\onJocol cfbun 6>ocu5l6>Qlcn)ruJ 63\916>cfb<D>!~ em!srrfl ~!6>S rulg!OJCOOJlaCl2lam 2% as6Tl8 630ru0 SOdhmJ gQ'DSO<fl6>!cmcmo6Tl1. gQ'D mlcfb!eml @nJaISOceCO)~lam mlcm nJlco1<fl6>o6>em ru.\onJocol cfb~!6>S QlolSaml>lam mlCTn!QlO6Tl1 mamacfb6TTSco). gQem1QJl6>S 100 acfbosl «rnlW1cfbruco!Q!ffio. (gQ'D m10a~Wo em!6m~!6>S

oJ

eoeeo ClQJ§aml>l6>QI rulam~QI!o 6TlJO(J)cfbQlOcfb!6>QlCTn~l moam «rnlemlm!~ Ql!CT8 cfbCO!emQl!cfbun ru.\OnJOCOlcfbun 6>6>cfb6><fl6>~!CTnCO) 6>cfb06TTS! em6>CTn em!6ml~!6>S rulQ1 «rnlQl1CO>Ql0m>1 ru0u51<fl6>!0. nOQJaml)lam 10% n(j)lfblQ1!o rulQ1 ru0CID<TXlJ!6TTSOcfb!0. 1% ruog n(j306>~!amn1coS1co!CTn!6>OJlfblam rulQJOJ0CIDmoJ 2% am nJls~m10amn!ruoCT8 cfb!fu6Ttmll6>m.)

3. anJ~0 aQlO§O~!6>S mlcfb!eml cruOWOC06m mO!6><fl6>S!~m 30 Qlcfb9::lo COlnJ<D>lam mlCTn!O 50 Qlcfb9::lQlO<D>!O, 6TlJ06TlJ0 mO! 6><fl6>S!~cfbunce65 60 Qlcfb9::laml>lam mlCTn!O 1 acfbosl COlnJ<D>O<D>!O ru0lID1<fl6>!0. lnJem"lcfb9::l1<fl6>!CTn «rnlw1cfbruco!Qlomo 100 acfbosl COlnJ. 4. acfbCOcfb0n!1:1cfbCO!6>S emoamnJCO.\o cruOCOcfb9::l1<fl6>!cmcm1mO<D>l 6>ru~16>.gzI~ 63\916>cfb<D>!~ n(j)~0 1Scfb9::l.\ n(j)~!6>S<D>!O mlcfb!eml1% am mlCTn!O 5% ~<D>1 @<D>0amn!0. lnJem"lcfb9::l1<fl6>!CTn «rnlu51cfbruco!Qlomo 80 acfbosl COlnJ (gQem1QJl6>S IScfb9::lJ@am~ ~!6>S rulQJ<D>lam ru0CID<TXlJ!6TTSOcfb!0.)

5.«rnl6Tl8gQogc>oJgruJ nJru0 cru6>6>~ crul~len (<D>!.nJ1.n(j)mJ) mlQJOJlam 5% mlcfb!em1<D>!o gQCT86>ru0§O!cfbun ce65 14.5% mlcfb!em1<D>!Qlo6Tl1. QllmJ ~oem1nnK:<fl6)n!\:1CT8 mSaml>l <D>!~ mlcfb!eml 14.5% ~m>1 n(j3cfb"1cfb COl<fl6>!o. lnJem"lcfb9::l1<fl6>!CTn «rnlu51cfbruco! aome 6 acfbosl COlnJ. 6. 6>cfb§~!6>S gQoB"lco1<D>0 6>(U)<fl6)CBO n!I:1m!nJa<D>ocnl<fl6>!CTn «rnlQllQllml<D>o acfboaCTlJocrulg nJomQll6>oB mcfb!eml 14.5% ~m>1 @<D>0amn!0. lnJem"lcfb9::l1 <fl6>!CTn «rnlu51cfb ruCO!QlOmo 5 acfbosl COlnJ. 7.

6TlJnf)!COOn!l1lS l6TlJ0oB!cfb§!~ 1Scfb9::l6m nJB00Clllil6ID3un rulam<fl6)6)~ S!CTn 5 C!W00 anf)O§QI!cfb6>§ acfbOCTlJ'D 6TTSlou'5 crul(TlJ(3O<D>aml>lam ml6>CTn0\91ruo <fl6>1. 5 C!W00 anDo§QJ!~lam rulCO>C06mo 6>.!l.J~!CTn 1Scfb9::l6m mlcfb!eml 14.5% ~<fl6>1. 6TlJO<fl6>l<D>!~ C!W00 anD0§QJ! cfbunce65 5% mlco<fl6>lam mlcfb!eml mamcfbl <D>Oam Qlem1. n(j)CTnOam 0.5% mlCO<fl6>lam acfb06TlJ'!>6TlSru) mlcfb!eml «rnl5<B6l!CTn Qlg! anf)O§ QI! cfbun rrucrruno m amnlm nJ!Oamn! mlcm cfbO~1gam cn!MmJ, nJO<fl6>lou) 6>Qlg"lcol<D>ammJ n(j)CTnlru 63\916>cfb<D>!~ cruO(l)(l)6{ff3un ruo6lfl31 <D>Oam acfboCTlJ'!>6TlSlou'5 ru'\Cl.KT\l.£XD)lam mlCTn!O nJ!Oaml>!anJOcfb!cmcmo6Tl1. lnJem"l cfb9::l1<fl6>!CTn «rnlu51cfb ruCO!QlOmO 10 acfbosl COlnJ. 8. Blrucru ruoScfbce65 mamcfb!CTn «rnl~00§6>Ql~cfb6>§ ~{\.l)oISCO m1cfb!em1<D>!6>s nJco1cD1m>lam @un6>~!amnl ruoScfbcri5ce65 1~~ The Malabar Chamber of Commerce,Calicut

m1cfb~<m1 .!lJ~f2lCllTll)~m)(OX)6m.

9. 6lm~am lcfbn!l::l1ouJ lDl16llJ1g~~~6lS acfbo6TlJ'Dli'm1ouJ m1cfb~<m1 m1mcB6l cfboae.JO.!lJ1<mmocIDI ClJm~1cB6l~CTTXID06n1. n(j)cmoam 63m~ lcfbn!l::l1ouJ 6lmn!l::l1n8 mOl<mm~~ 40.46 6l<TU.m1.825.46 6l<TU.m1. am <m06l!9 ClJOCO> ClJ3I2l~~ lcfbn!l::l1ouJ lDl16llJ1g~~~6lS acfb06TlJ'D Gm10uJ m1mcB6l1am magm~. lnJ<m"1c:a:&l1cB6l~cm «mlCJ.51cfbn..Jm~momo 100 acfbos1 mlnJ. 10. <TU1cn<ng1m m1e.JClJ1e.J~~ 20% m1cfb~<m1 22% ~cIDI ClJm~1 ~. lnJ<m"1c:a:&l1cB6l~cm «mlCJ.51cfbn..Jm~momo 50 acfbos1 mlnJ. 11. cfbmom nJ6IlJ1cB6lom <TU1.n(j)enJ.s1. mSil1m1al5n!l::lm~~ClJm~6lS acfb06TlJ'DGm10en <TUl CTlJB0lDlCllTlll1am m0g0 ClJm~ CllTlll1. <TU1.n(j)enJ.s1. oSil1enJalSn!I::lm~~ U>ClJ6T1B6lmcf acfbo6T1Blsocfb~

17. n(j)am.nJ1.Sil1 <TU1e.J16mo~cfbuB~ CUllDlOcfbS 6l6TlJm1n.o1g lson8m'5n.om rruonfknome m~1e.JOcB6l1lDl<m1moam @nJa~OcfKO)O cB6luB~ e.J~1cB6l~cm <TU6Tikru1cw1 <m~cfbcIDlaCl2le.J~O ClJog mamacfb6m1rum~cmal5 63!91ruOcB6lOffiOcIDI 01.01.2014 m~<mam m~n8cfbOe.J lnJ06TlJe.J.\aCllTll106lS m1lDlf2lClrnl)1am a~BU><m1 ClJm~

ClJmcB6l~cfbuB6lcB6l0!916lcfblDl~~m~ ~6lcfb acfbo6T1Blsocfb~ <m~cfblDl~6lS 6% acfboCTlJ'Dli'm1ouJ m1cfb~<m1 mamae:fbGm«»06!lJ. U>ClJ6T1B6lmcf ClJmcB6l~cfbuB~ m1e.JClJ1e.J~~ 4% m1m~ <m~sm~

18. cfb~~~1am gQCTUXTJQlOcIDI @nJalDlOU>1cB6l~cm nnm6llJenJ 630cIDlam 14.5%am m1cm~o 5% ~cIDI cfb~OcB6l~o.

CTTXID06n1. n(j)cmoam acfbOCTlJ'D~ 6l.!lJcoXo) m1cfb~<m1 «mlS cdlcB6J~cm acfbo6T1BLsocfbsmmom mSil1m1al5n!l::lm~oCllTlll ClJ.\onJom1 ~1am m1cm~o ClJ06m3~cm <TUO(l)('l)6ID3uB~ ClJ06m3am m1cfb~<m1 mamae:fbGm«»06n1. (.!lJ~m~cB6lCllTlll1am gQcn1 acfbOCTlJ'D~ 6l.!lJcoXo) m1cfb~<m1 «mlS-921~ 6lcfboGm1m1cB6l~cm acfbo6T1Blsocfbsmmo m1am <TU1onDCSOU>ClJ~O acfboCTlJ'Dli'm1ouJ 63!91ruOcB6lOffi1SlDlO cB6l~cm 63m~ m1mag<lllf2lo6n1 ClJ06m3am m1cfb~<m1 mamacfbGm1 ClJm~cm «mlClJCTUO.) 12. n(j)o. <TUOcf m1cfb~<m1 m1m~ 5% am m1cm~o 14.5% ~lDl1 @lDlmCllTlll1. 6lClJm§1cB6lam n!I::lonng gQonJocfbsm n(j)cm"l lDllCTlll <TUol2llU>1cfbuB @nJalDl0u>1~ n(j)o.<TUOcf @am~OB~1cB6l~cm lDl16llJ1g~cfbuB~ «mlClJlDl~6lS @am~OBm ~m(ll)lDJ~6ls «mls1 CTU000XllTID1am 5 ClJ1~~ocIDlCllTlll1m1~ acfboCTlJ'Dli'm1ouJ m1cfb~ <m1 .!lJ~f2lCllTll)~CTTXID06n1.

13. 2 '6W00~o «ml<m1m <m06l!9lDl~~ 6TlJom anDo§e.J~~~6lS acfboCTlJ'Dli'm1ouJ m1cfb~<m1 neJsmcIDlam mago ClJm~CllTlll~CTTXID06n1.

6TlJ1ruao~ acfbom~0n!I::lm1am m1cm~o ClJ06m3~cm mB.\CllTlll16log ClJ06m3am ClJ1illD)~6lS 160% <m~cfblDlocIDI m1Sil6l~~CllTlll1lnJaBUOnJ «>mOlDl <mmo <m1m1ru 63!91ruOcB6l1 @lDlmCllTlll~CTTXID06n1. 3 '6W0m anDo§e.J~~~6lS acfboCTlJ'Dli'm1ouJ m1cfb~<m1 m1mcB6l1am mogm~. cti1dblcm1 ~~ClJldbu8 14. cfbomn!l::l1cfbOBOlDl m1cfb~<m1lDl1am m1cn1 cfbmn!l::lcfb6lm 63!91ru0cB6l1 lDlal5 anJ06le.J ~oa~n8 ae.J6TlJm ~~16l~ nJmb5lco.>1am ClJm~cm cfbcrum1cfbuB «ml~OCllTlll n(j)~O cfbmn!l::lcfb6lmlDl~O ~oa~ n!I::ln8 m1cfb~<m1lDl1am m1cm~o nJlm6pJl2l0lDl1 63!91ruOcB6l~O. 15. ~~~6lS m1cfb~<m1 acfboCTlJ'Dli'm1ouJ <TUlCTlJBOlDl CllTlll1am .!lJ1e.J mo~uB ClJm~CllTlll1lDl§~6T1i ClJ.\OnJom1lDl~6lS cfb!916TllTm ClJmn!l::l6lCllTlll ClJ1amnJm <m~cfblDl~ 6lS «mls1cru.o00XllTID1am moe1 o;M06TlJ~cfb~OcB6l1 <m1m1~ <m~sm~olDl1 5 ClJmn!l::lCllTlll1am cfbls~<mam, 3 ClJmn!l::lCllTlll1am <m06l!9 cfbo~1am acfbOCTlJ'D Gm10uJ <TUlCTlJBOlDlo m.J.J"lcfbm1-921 ClJ.\onJom1cfbuB n(j)cm16m36lm m1mcB6l1am mago ClJm~CllTlll1lDl§~6T1i 10 e.J~1am <m06l!9 ClJ1g~ ClJmru~~ ClJ.\OnJom1cfbuB~ amamClJ1rum1-921 cfboe.JnJm1w1 6TlJOW cfbI2l0cB6l06l<m ClJ1g~rumru16l~ 1% acfboCTlJ'Dli'm1ouJ m1cfb~<m1

19. .!lJom1g6TlJ1uB ~un~nJl<m1~ «mlClJm <m~~6lS amoU>1 cfbuB~ ClJ1amcB6l~cm acfbOCTlJ'DGmcW m1cfb~<m1 63S~cB6l1lDl mm~ cm~cfbuB, e.Ja6TlJOO§o1 a'6W0m 6ln(j)~uB, cfb6T1B<TU.\112l6TlJ1uBenJ n(j)cm1ClJ6llDl cfb!916TllTm ClJmn!l::lo m1cfb~<m1 ClJ1m~<B«l1Ql0cB6l1cIDlm~ cm~. 01.04.2005 m~<mam m~n8cfbOe.J lnJ06TlJe.J.\aCllTll106lS gQ'D ~m~cfble.J.\o e.J~1cB6l~CTTXID1m gQClJm 30.06.2013 m m~mJ ClJog mSil1crualsn!I::ln8 n(j)s~cB6l6llJmocIDlm~cm~6lClJcmal5 nJe.Jm~o 6l.!lJcdl<m§~OCllTlll <TU0nD.!lJm.\CllTlll1am «mlClJ e.J~1cB6l~CTTXID1mocIDI nJ~<m1lDl .!lJ1e.J ClJ.\Cl.KTU!lc:fbuB m1Wf2lCllTID1am @uB6lcB6l~1cB6l~cm <m06n1.

20. mg ~un~nJl<m~1am amou>1cfbuB~ ClJ1amcB6l~cm mm~cm~

«ml~oam m<m1lDlocfb~o. ~B.\mOlDl1 acfbOCTlJ'D~ 6l.!lJ~~cm ClJm~ m1e.JClJ16le.J ClJ.\o..KJU.(llDJOlDl1m1cB6l~O 6TlJOWcfbl2lOClJ~cfb.

(ClJ.\OnJom1ru1am~~ 6l6lcfbClJuno ClJ-92I§~~ a'6H0~ nJm1U> 6IlJ1cB6l06l<mlDl~~ acfboCTlJ'Dli'm1ouJ m"l<m1 63m~ cfbOm6llJClJCJnOe.J~o unOmlL<m"llDlmolDl1 unm1lDl06l6llJcn1 nJOlDlOn8 cfb!91lDl1~. cfblS06l<m

gQcn1 cfbls~<me.J~o ClJ1amcB6l6l~~cm CUllDll2l6TB, ~og1mo ~~ 6IlJ6m3@~6lS cfbom.\CllTlll1am 63m~ nJomo mSCllTlll~CTTXID~ClJ6lm

---- ChamberNews 18

QuarterlyNews Magazineof MalabarChamberof Commerce

gQClJ6llDl acfboCTlJ'Dli'm1ouJ <TUlCTlJB0lDlCllTlll1am m1cm~ 0 63!91ruo acB6J6m(ll)~m06n1. ~~~6lS m1cfb~<m1 m1m~ 5% ~cIDI <m~sm~cm<m~o unm1lDl06l6llJcn1 nJOlDlon8 cfb!9~.)

16. nJOClJ6l~§ cfb~OS~6TlJCllTlll16le.J 6lnJ6T1BcB6l~§~~6lS ClJ1ClJOnD CllTlll1m <TUnDOlDlo mamcfb~CTTXID1mocIDI cfb!916TllTm ClJmn!l::lo n(Bm6l~ s~CllTlll1lDl moU>e.J.\m1w1 6l<TU'h\l1am lDl~<B«l1QlOlDl mo~uB ClJm~ CllTlll~CTTXID06n1.

CllTlll~o.

cfb~~o,

mg~

cfb6T1B<TU.\112l6TlJ1uB<TU~O

n(j)o.~m.nJ1

ClJ06m3~cm~6lClJcn1 630cJg 6l.!lJ~~cmClJ6lm 6TlJOCID.\<mcIDIam m1cm~o 63!91ruOcB6l~CTTXID06n1.

21.

~lDl~maClJB am6lJ~am

13.11.2009

<m~sm

m~<mam

ClJ1~am

m1cfb~<m1

31.03.2012 ClJ6lm

lDl~~ cfbo~1am lCUluJ 6l6le.Jn8<TU16lna «mls1cru.o00XllTID1am @al5nJOB~1~ ClJ1glP1-921 ~lDl~maClJBacfbO<TU6lmg1cfb @e1~cm6m3 ~~6lS m1cfb~<m1 m1m~ 12.5% am m1cm~o 4% ~cIDI cfb~OcB6l~cm~.

ClJ.,\OnJoco1ce,uO ~ m1«lca6llam m1ce,!«l'l1 nJ1a:n~~6>6TY5lB:>1am cruc8ce6>ocob~.a6) 63S!ac96l6I1SCO)06l6TTJCTn!o ~lIllmCTn m1m cB6>1arn crumcB6>ocob~.a6) e5!cB6>1lIll m1cfb!«l'l1 «l'l1m16>db m«l'8ce,!CTn ~ (~!maClJB lCWcOO6l~crurrOm5l6loB «ml5buo0CTXllT0'>1arn cfbo~arn ~e1nJOB~'kij n11~~ lZlg ~lIll!maClJB 6llZlruJl m5l6lm cruo~ ~61'TSocofu>!CTn «mlm1mJ1<ID<IDJo ~«l'l~6l5 nJm'hnane6)6)~<:30 n(j)cm ClJ.,\~ 22. a6TlJcB6X)1 ~Qhj:x3m «>oUXll'Tl»!~ lnJooouo1cfb l6TlJorr3cwcW cruo<olSdb«l!6)5 B"lmrlQJ m~ ~ClJUO.,\o nJm'kn6m'kij l6TlJOrrOCWcW «ml6TTO l6TlJOrrOCWcW ClJ.,\«l'l.,\OCT\.lQl~06l«l'l ClJ1n.lku «l'lmo acfbcB6>!cfbuO, nnarnru, lZl1cfbcru.!1Jm, ~'MP., Sil1a~6TlJ1 n(j)CTn1 ClJlIll!6l5 m1cfb!«l'l1 5% ~call nQlcfb"lcfbmke6>!CTn!.

23.6lcfbO~ 6llZlal50 nJ(~lXO)kt»!lZlOcall 6TlJCT\.OOc;!da cfbmom nJ6TTJ1 cfb6l~ m1m~1~ ClJ.,\Cl.KTU!lcfbuO.a6) nlla<.lXDJQlocall m1cfb!«l'l1cal1arn m16lCTn0!9ruOcB6>1cal1m!CTn!.

«nMll

24. 5101cruo alZl6l.E.J.a6) alnJoCllTUOnOOXllocall eonO cru"lCTU6TTJOlIll Sil16TTO, Sill6l6l~ ~cn'bW lZlo~1arn annOa~~6l5 ~cBMJo1 50cfbmJ 5% ~call cfb!oolSce6l!CTn!. oouo"llIll, «mlCTO'lmaBuo"llIll uo1arnnJuoo~cfbuO , cfb6TT06lClJrrOcil:lm!cfbuO, n(j)CTnru.a6) CTU01mo aClJB"kt»OcB6>OCT)!~ 5l01cruo ClJcfb!~16lcrg lUOlZl6m3uO.a6) cfbm!Clrnl)! nJcfbmorrO 20.ooo/-m1nJ.a6) lZl!~1arn ClJOScfblIll!~ ~ruJlagOO~6lSlIll!O, cfb6TT06lClJrrOcil:lrrO 6lcrucrgo!~6lSlIll!O ~CWo6TlJm m1cfb!«l'l1 m1m.a6) m1E.nJ16l~ 20% arn m1CTn!O 100A, ~call cfb!OcB6>!CTn!. 5101cruo ClJcfb!il «mlocn"lcfbmke6>!CTn uo1arnn.JUO~cB6>!o, cfb6TTB6)ClJCT3cil:lm! cfbuOcB6>!° lZlOl«l'lalZl ~'D cfb!06Tlffll) m'1<txe6) 6TlJOWcfbQlOCl.QcfblIll! ~1·

25. cfb!916Tlffll) ClJmcil:lo lnJ6lJ.,\~ acfbm~ 6lnJO«l'l! ClJ1e1o..Jm m1cfb!«l'l1 ~om'6H1 nJ(ID«l)"kt»!6l5 cfbO~OClJu5l 31.03.2014 ClJ6lm B"lm~.

26. acfbm~ 6lnJO«l'l! ClJ1Qhjm m1cfb!«l'l1 m1lIlllZllnJcfbO«>Ql!~ m1cfb!«l'l1 cfb!5'k£kJ1cfb «ml~«l'l"lmcB6>orrO cruoCTUOom 6lnJO«l'l!alZl 6lJ~O CTUOOn.mmT3uO.a6) 2008arn lnJ6lJ.,\0nJ1~ lnJa«l'l.,\cfb

~o<TXbH1 n.JCiOO)')1, «mla(O) ClJ.,\Cl.KTU!lcfbuO.a6) ClJ1a<.lXDJQlocall Clfl6ns!o mSc;!d~!cfblIl106T1J . ~ «mlClJCT\.lmo nllmblIll0UJ1 cB6>!cm<IDl:n!~ eonJcil:lrrO m«l'8ce,om!~ «mlClJCT\.lom «l'l"llIll«l'l1 ~16l6l~ 31,2014 ~lIll!o cfb!5'k£kJ1cfb «ml5~«l'l"lc8ce6>om!~ «l'l"llIll«l'l12014 ruJlCT\.lo6TlJm 31 ~lIll!o m~!Clrnl)!cm<ID06T1J .

27. 31.03.2005 ClJ6l(oo»!~ cfbOmcil:l1ce,:x30lIll m1cfb!«l'l1 cfb!5'k£kJ1cfb «mlScB6>!ClJ0CT3 ~'6H1 n.JmXO)1 mSc;!d~OcB6>!CTn!. eonJcil:lrrO marncfbom~ «mlClJCT\.lom «l'l"kDxm1 2014 ruJlcruo61l.KB 31 ~lIll!o m~Clrnl)!CTn!.

2008 arn lnJ6lJ.,\OnJ~ cfbOmcil:l1ce,:x30lIll m1cfb!«l'l1 ~om'6H1 ClJ.,\Cl.KTU!lcfbuO ~«l'l1m!o 6TlJO<WbQlocall m1cB6>!o.

28. nO!cW acfbOm~Ocil:lrrO eonO ~rrOCW.,\ 01.04.2005 lZl!«l'larn 31.03.2013 ClJ6l(oo»!~ cfbo~1arn «mlocn"lcfb.,\«l'l aocil:lrrO 6llZl0Clrnl)cfb~5 ClJ.,\OnJoco1ce,uO.a6) ClJ1g «mlm1.a6) m1cfb!«l'l1 6TlJOWcfblZlOcallm!CTn!. aocil:lrrO cruoClJ1U.>omClrnl)16l~ n11~ lZl!~.,\ClJmcw1«l'l m1cfb!«l'l1cal1arn m1CTn!O e!9ruOcB6>1cal1m!cm<ID1 moarn ~'D cfbo~arn n(j)nO.cru1.6ln(j) aocil:lrrO 6llZl0Clrnl) ClJ.,\onJoco~1arn m1CTn!o n.flm'l6>~!Clrnl) m1cfb!«l'l1 «l'l1m16lcfb marncfb!cm<ID1arn m1COJQlCllTl»1arn ClJ.,\ClJCTUO 6lcfb061'TS!ClJm!o 29. nJmbuo1«l'l1 mYDnO~B ~arnn.rm6OB~6l5 aLnJOCllTUOnOmo lZl!rrO m1c8CllTID1 anJ~m cfb~cfb~ m1cfb!«l'l1cal1arn m16xmO!9b.Jo cB6>!CTn!.

30. «ml«l1 ~~CTn m1e.m51«l8 «l'lClJ'l6>S6PJ6llIll m1cfb!«l'l1 e!91 ClJOcB6>!CTn!.

31. 6l6llZlB, aUX>«l'lmJ 6lnJOS1 n(j)CTnru6llIll m1cfb!«l'l"kt»1arn m1CTn!O e!9ruOcB6>l ~!9!CTn!6lnJ05"kt»!6l5 m1cfb!«l'l1 m1m.a6) em! UO«l'llZlom lZlOlIll1 cfb!OcB6>!CTn!.

32. 6)ClJ~'l6>~~ ~nJalIllOUJ'kij m1mI2l2lke6>!CTn acruo~cfb6l~ m1cfb!«l'l1 ClJ1lZl!cB«l'lQl0cB6>!O. 33. acruOlIl106TlflrrO ruJl - eocal1a:l8cW adbcB6>!~1a:l8 m1cm m1mI2l2l1cB6>!CTn g~.,\ ClJcrU«l'l! euocn acruolIllo.!1J613cru16lcrg m1cfb!«l'l1 5% ~callmke6>!6llZlcm cfb!916Tlffll) ClJmcil:l6lClrnl) 6TlJ~1arn ClJ.,\cB«l'lQlOcB6>1cal1m!CTn!. lZl!rrO ClJm~1arn ClJ.,\OnJoco1ce,uO 12.5% m1mcB6>1arn m1cfb!«l'l1 n.flm~!CTn1~ n(j)CTn«l'l! cfb6TTJcB6>'l6>~!(lffil) 01.04.2005 lZl!«l'larn 31.03.2012 ClJ6lm 4% m1mcB6>1~!o 01.04.2012 lZl!«l'larn 31.03.2013 ClJ6lm 5% m1mcB6>1~!o m1cfb!«l'l1 6TlJOU.>cfblZlOcB6>! cm<ID06T1J. ClJ.,\OnJoco1ce,uO ~lIllmCTn m1mcB6>1arn m1cfb!«l'l1 n.flm~!

6l6mllb1arn «mlco1 crumcB6>oco1a~.a6) e5!ac96'l6TT5<ll'l06l6TTJCTn!o, ~lIllmCTn m1mcB6>1arn crumcB6>oco1a~.a6) e5!cB6>1lIll m1cfb!«l'l1 «l'l1m16lcfb marncfb!CTn@«l)6)~CTn!O ClJ.,\Cl.KTllil6>!l.J~no.

34. In.JcfbOUOo nJ<OOlTl))0CT3 ~nJalIllOUJke6>!CTn n(j)~OClITlI)mo n(j)arn. ~.cu5l. ~~6)5lIll!o m1cfb!«l'l1 m'1<txe6) 5% ~callm1cB6>!o.

35. 061Jdm a«l'lo~1arn nDo<JXnJ lZll~!61'TSOcfb!CTn amouJ6Tl.JOOJ cfbuO m1CIltCTO'lke6>!ClJ0CT3 ~nJalIllOUJke6>!CTn 061JdmcrualnJ eocall ~6lcrg m1cfb!«l'l1 m1m.a6) 5% ~call cfb!ooJ 6l.!1J~!o.

aSlcfbAmSl 36.

<:AJom~

cmsc:mam msnJSlcfbu8

lZl1~§o1,

amruarn, n(j)lIllc8anOOl9mJ, n(j)rrO.crulcru1 cfbocrg"lrrO cru<Bgflm1, ~5arn anJOeflm) ~rrO «mlm&6TlJ<TU) adb~ anJOeflm'5 cfbocrg"lrrO n(j)CTn1ClJ .!1JmcB6>&cfbuO ClJO~ acruO!9!o, ClJ1arncB6>&acruo!9&o m1~~~ m1cfb&«l'l"kt»!6l5 nJcfb&«l'l1 m1mcB6>1arn lZlOl«l'lalZl m1cfb!«l'l1 6TlJOlID.,\«l'llIll~&. acfblC13 crumcB6>om nJ&0@~&ClJ1~ lIlll6TTJ1g - O6TTO cfbOcrg"lrrO lZlOm!ClJ ~16l~ ClJ.,\Cl.KTU!lcfbuOce6XT)&cru~«l'llZlOlIll1 cfbOcrg"lrrO a~ol9m1 cw1~oma&6llZlof lZl&a6lJmalIllO, «mlClJm «mlocn"lcfbomo marncfb1cal1 a&~ ClJ.,\onJoco1ce@1arn m1aCTnO ClJ06OB&CTn .!1JmcB6>&cfbuOcB6>& SiAc:et'29

The Malabar Chamber of Commerce,Calicut

QlOlemCBQl

m1cfb~em1

~@OJ1m

«frc)<OnOalJ(D)~~6)(lJcrO

CBrs(3(/)em1

6>cfb06TlS~Cl.KO~o.

37. al~CBlSn!l:l08 ~~::xtmlX1.Kl)lam m1em~0 al@:fu'6H<O~ (\J)"leJ<OQlO<O ru06m3~em 06T1l<O ems1, 06T1l<O nJoam n(j)em1ruc66) «frc)Q.KD)~6>S ru06m3am m1cfb~em1 m1<06Tl.KTU)Qlow~0 «frc)S~ cfbIP1lffillll) «frc)S~<lml)QlOCTUo QlOlemCBQl m)6>nJn9:1.\am 01CB6TlJg n(j)S~ c66)~ruo08 «frc)<OnOalJ(D)~~l n(j)<mal'l<O<lml>lam m1(D)Ql<lml)lam ru.\ruCTUO 6>.!1..l~~<mal)06T'i5.

38. WL.£)O CTUQlWo 01CB§6T'l8 CTUQl<o cM1c66>06>em nJ1al16>~~<lml) m1cfb~em1 63s~c66)~<mal)lam o.fIW.!1..l rual~<lml)1<D>oam ruog m1wo 31-00 rucfb~cM1am CBrs(3(/)em1 rual~<lml)l m1cfb~em1 em~cfbcB6) lnJem1 ru<On9:1o 36% nJeJ1utl .!1..l~Ql<lml)~em ru.\ruCTUO cfbl§b.!1..l<Oc66)~<mal)O 6T"O. 39. ruo6m1m.\ m1cfb~em1 rucfb~cMl6>eJ lnJCBem.\cfb ~cu5lg «frc)CTU m)6>Qlcf ru1rso(J)0 nJ~mm~~"lru~1c66>~<mal)06T'i5.

40. WL.OOCTUQlWo 01CB§6T'l8 CTUQl<OcM1c66>O<lml>OJ<OcB6) 10,oooj-allnJ nJ1IP.!1..l~Ql<lml)~ruo08 m1(D)Ql<lml)lam ru.\OJCTU.O(D)~~. ~al5 cfb<Outlm Qlomfl 100oj-alln.J6)CD>lfb1eJ~0 nJ1IP ~'DSOce6)6Tl)6)QlcrO ru.\ruCTUO

6m3un eJ@1m>alOce6)~<mal)~QlO6Tl)' 47. n(j3eJo, CBemmfleJ n(j)em1ru CBeJeJ<lml)1eJl6>S ruo~ «frc)ml><O CTUoCTUOom ru.\OnJOalo mS<llTll)~CB(llJoun CBl6TlJOc66)<OQlO<O «frc)S~ m1cfb~em1 63IP101 mamcfb~<mal)lam m1eJm1amc66)~em «frc)ru.\ceallcfbun nJallnoco1c66>o08 mSn.JS1 CTUflcfb<01c66>~o.

48. m1<mJ1em CTUQlW nJal1w1c66)~Ql~m1 CBcfbOonJ'!l6T"Y!:lou) 630nJg 6>.!1..l~008 cfbIP1<D>06>em CBnJOW (J)ru6T'l86>Qlcf CBcfb06T'l8lS0 ~<OQlO<OcB6) ruO<On9:11cfb 01CB§6T'l8 nOwam 6>.!1..lCB~6TlS CTUQlWo ru6>al Qlem1<D>ow cfbO~OeJ~~ cfboeJOJ1§o6TlJo Ql0cMOce6)O m~~ «frc)c.o1cfbOalo ruo6m1m.\ m1cfb~em1 cfbam"ln9:16m<ocB6) mamcfb~ <mal)06T'i5.

49. CBcfbal§ 6>nJoem~ru1amnJm m1cfb~em1 m1(D)Ql<lml)beJal>~CBnJ06>eJ CBcfbal§ QlleJ.\ru<8w1em m1cfb~em1 m1(D)Ql<lml)leJ~0 CBcfblCl3OJ1amnJm m1cfb~em1 m1<o~wo nJl<O<lml)"lcfb<01c66>~<mal)1m~~ cfboeJOOJu51 ruog m1(D)Ql<lml)1eJ~~ ru.\OJCTU.Ocfbun 6TlJ0(}JcfbQl0c66)~0. m1<D>Ql In.JcfbO<OQl~~ n(j)~0 nOO06m'3~~o «frc)m~6TlJm.o CBal6l.lcfb§~0 m1(J~.nem cfboeJoruw1c66)~~lam CTUQl<OcM1~oam QlOlemCBQl CBcfbal§QlleJ.\ru<OcIDlem m1cfb~em1m1<D>Qlo, CBcfblffi ru1amcMm m1cfb~em1

6>.!1..l~~0. m1wQlo n(j)em1ruc66)~ cfb"lIP1eJ~~ cfbamcM1em m1cfb~em1 m1<o~wo 41. m)6>nJn9:1am n(j)c66>a6m0Ql1ab CBCTU06mbaJce6)~~ m1<oamo6m n.Jl<O<lml)1<D>Oc66)l n(j)crO ruo~ m1(D)Ql<lml)lam ru.\ruCTUO 6>.!1..l~~em CTUOQll(J)1cfbun, ru.\OJCTUOmflcfb ~08nJ~~ r---- --..._-- - - - - - - . . , em06m. cfbun, ~ocf, 6>Qln9:1"lmo1 n(j)em1ru 50. cfbeJ.\06m Ql6TT\.0n.J6ID3un, 630cu5lagoo1 ru1amcMm m1cfb~em1 ru1Ql~cB«OOl06T'i5. cfbalO<O W6m'3un, cfb6T'l86>ru08n9:108 6>CTUct>~cfbun nJ6m1 cfb 6> ~ CTU 06TlJ m.ol-9J m1 eJ n(j)em1ru ~'DSOce6)~em em~cfbmflam rscfb!l::l.\ m1amc66)~em «frc)ru.\cB<IDem 63IP1ruOce6)~em rum)em~c66)un 63IPl6>cfbW~~ em~cfbcrl>cB6) embaJce6)omfl CTU6TlJCBcfb06Tl8lSOcfbS<O ruIP1 m1eJOJ1am ~(\J)o6TlJal m1cfb~em1 6TlJOCID.\ m~Oce6)~em cfbalO<O nJ6m1cfbunc66)~O al)(D)~6l1i n(j)emoam ~(\J)o6TlJal m1cfb~em1 m1cfb~em1 63IP101 eJrs.\QlOce6)~<mal)06T'i5.

6TlJOCID.\em cfb~O~~ cfb06m1c66>omow1 42. «frc)m~Qlom m1cfb~em1 ru1amcMm nJal1w1 6TlJ1~cfb@lam CTUorsOOJm ru1ru'bJ<D>lmo cfb6mc66)Ocfb~ruo08 CBcfbal@ 6>nJoem~ .!1..l0<O~~cfbun n(j)em16m'36>m rucfbQlog1 ru1amcMm m1cfb~em1 m1wQl<lml)108 n(j)IP~em1 mS<llTll)~em m1cfb~em1 6>ru§lij ems cfb"lIPl6>eJ ru1g~rualru~0, nJalQloruw1 w~emem1m m1wQl<lml)lam CBrsC3(J)em1 ru1amcMm ru1e.m>lam ruog m1cfb~em1cB6) 6>cfb06TlS~rual~o. ru1CBW<D>QlOW Qlal~em~cfb@~6>S ru1g~ru 51. CBcfbal@ QlleJ.\ru<OcIDlem m1cfb~em1 m1<D>Ql alru~o cfb6mc66)Oc66)~emem~ n(j)em~ <lml)l6>eJ 67(1), rucfb~ij lnJcfbOalo 63al~ ru.\cB<IDQlOc66)l 01.04.2005 Ql~emam cfb~go cfb6>6TlS<lml)lw c31ruCTUo Ql~emam 63al~ Ql~08cfbOeJ lnJ06TlJeJ.\O mamcfb1 m1<D>QlCB(S(3(J)em1 6>cfb06TlS~Cl.KO~em ru<On9:1<lml>1mcfbo ~ CBcfb~ em"l<OcMOOc66>6TlSal>06T'i5. n(j)emoam em06T'i5.

6>(\J)nJ.\1§1 cfbam"ln9:16m<oc66) QllcrO ru<On9:1oru6>al CTUQlWo m"l§l 43. n(j)6>mn&b1eJ~0 cfbO<06m<lml>Oam «frc)m~Qlom m1cfb~em1BO(D)cfb<O mamcfbOOJ~<mal)06T'i5. CBcfbqM em"l<OcMOce6)~<mal)lam ru1ru1w emSCW n(j)em nJC3ru1 m1alOcfb<Ol~ ~ru6>al m1cfb~em1 m1<o~lm 6m3un m1al<lml)1 mSn.JS1 lcfbQl6m'3un 6>6>rucfb~1c66>~cfbW~o ru1CBW(D)Ql0ce6)~CB(llJOun ~08nJ~§ SOabm) lcfbcu5lg, CTU6>nJn9:1.\am CTUQlwnJ1al1u51 cfbIPl6TIml>~6>ruem m.\owo @cmmflc66>oo~6l1i 01CB6TlJg ~ru mamcfb~em ru.\OJCTU.Ocfbun m1(D)Ql<lml)lam 6>cfb06TlS~ CTUoCTUOom<lml>l6>ng rual~Qlom emoamnJal.\6m36>~ Ql~08 m1<O<lml)1 Cl.KO~<mal)06T'i5. ~'D ru.\ruCTUO 63IP1ruOce6)~<mal)06T'i5.

44. 6>(\J)nJ.\l§l cfbam"ln9:16m<OQlO<OcB6) «frc)~~cfbun 01QlOo{ 52. em1al~ rumm»nJ~alo, n(j)06m0cfb~§0, CBcfb03<D>0, CBcfbOIPbc66)OS 6>.!1..l~om~~ «frc)c.o1cfbOalo n(j)abm) - nJo<o§l @<lml><OOJ~cfbunc66) n(j) em1 ru1 S 6m3 §1am m1 eJru1 eJ~ ~ 6> nJ0em ~ ru1 am nJm QlOlal>Qlomfl nJal1al1m>6>~~<lml)~<mal)06T'i5. ls"l6TlJ.\l6mam 6>6TlJ6rnlJ~cfbuncB6) QlleJ.\ ru<ocIDlem m1cfb~em1 «frc)'kfl 45. ruo6m1m.\ m1cfb~em1 m1wQl lnJcfbO<OQl~~ 63ocu5lg ru1CBW<D><O eJ~cfbun 6>6>cfbcfbOal.\o 6>.!1..l~008 «frc)c.o1cfbOalo mamcfb~<mal)beJ ~oaml) ru.\onJom1cfbun «frc)Cl.KO~6>S «frc)m>m>~ru<On9:16><lml) CBlnJOn01g c66)omfl lsl6TlJ.\16meJl6>ng OQJsmmfleJ~o «frc)c.o1cfbO<O<lml>leJ~o ~cf CBeJOm) «frc)c66)'D~ 6306T'l86>6>eJmOmfl CTUQl<OcMbcB6>6TlS Qlogo rual~<lml)~<mal)06T'i5. em06>6mcrO m1(D)Ql<lml)lam ru.\ruCTUO 6>cfb06TlS~rual~o.

6TlJmg lnJCTUo(J)<lml)l6>ng «frc)s1au.oom<lml>1eJ06T"O ~al5 em~ooo 46. ruo6m1m.\ m1cfb~em1 al~CBlSn!l:l08 n(j)s~c66)~ruo08 6TlJOCID.\ c66)~al5. ~CBcM0un m1(D)Ql(T\)rso CTU6TiimcfbS cfbam1g1<D>~6>S al)(D)~~ ru.\onJom1cfb6>§ «frc)em1m CBlnJOClm)OnO~1c66>~<mal)lm nJal1oo6mmmfleJ1m1c66>~em 6TlJmg m1<OCB~lam nJeJ Qlog cfbIPl6TIml> ru<On9:1o 6>cfb06TlS~ruem nJCIDal>1<D>~6>S CTUQlW nJal1u51 6m3§~0 lnJem"1cfb!l::l1c66>~em~.

2014 ~(J)C6W 31 ru6>(O(D)Oc66)l m"l§~ruo08 @CB~1c66>~em~. algt] (fH/)OJeJo6TlJo: soribmJ (fH/)6J6)(WKrvm m)CBlSn!l:lm~ CBru6TlS1 CTUQl<OcMbc66)6TlS CBal6lJcfbun CTUCTlICT\JJ1~ ru.\OJCTU.Ocfbun nJ~mmruaeJOcfbmo 6>.!1..l~~emem~o mSnJslcfbQl Sineet'29

The Malabar Chamber of Commerce,Calicut

Steel Conglomerate

with aglobal footprint

The steel castings manufactured by Peekay have won global acclaim for their superior quality, finish and precision. Little wonder, they have transformed Peekay into an undisputed leader in this sector. Many of these castings are used by developed countries of Europe, America and Asia, in their Oil & Gas, Power, Mining and Engineering sectors. Added to that, the industry majors of India also prefer Peekay.

Most modern technologies like AOD process, Automatic Moulding Loop Line, Continuous Casting Machine, Leco GasAnalyzer and CNC Machines bestow an unmatched quality to the steel castings of Peekay.

International accreditations:

e ISO9001-2006

.~. ..( 86 '"

roNA

I

..'f'"

+ 11

I::I!J:ID!II

DDU.U

BVMARINE

LLOYD'S

0

GERMANISCHER

llOYOS

REGISTER

m (~~,,".nNu 1m nmI ClassNI< NORSOK QIJAlFlCAnoN FORASTM A800GR.4A,

OOV

5AAN06A

~ABS ( E: ABSMARlNE

PED

AIJ.2000 MERKBLATT m 2000f.£RKBL.ATT WO

Approved

"'JAPAN

IBR\'vRl KN{)'Mol

FOONOOY

Foundries of Peekay are rated as: • Top 2 foundries in Asia Pacific with highest number of quality certifications • Top 10 foundries in the world catering to the Oil & Gas sectors

PEEKAV STEEL Steel, the world trusts PEEKAY STEEL CASTINGS PVT. LTD. Calicut, Kerala, India, Tel:+91 4952422500,2421701,703,704,707 Coimbatore, Tamilnadu, India, Tel: +91 4254 271610

www.peekaysteel.com I www.pkcbe.co.in

p.~SAMI MEMORIAL H

r;)

T

he program began with silent invocation. Sri. Alok Kumar Saboo, President chaired the meeting. He said that every citizen of Kozhikode should be proud that a citizen of Kozhikode has become the youngest recipient of Pravasi Bharatiya Samman Award 2014. He has been bestowed with this award for his contributions to Humanitarian cause.

Sri. P. Zakeer past President introduced Dr.V.P. Shamsheer to the audience.Sri. Mullappally Ramachandran, Hon'ble Union Minister of State for Home inaugurated the function. I am very glad to inaugurate the function. Sri. P.K. Ahamed is very close to me and we had been together in some programs even today. The family of Dr. Shamsheer is a well known business family and all of them are carrying out their social responsibility in concurrence to the notification of Government of India - Corporate Social Responsibility. This family headed by Sri. P.K. Ahamed are successfully doing their CSR Responsibility. Dr. V.P. Shamsheer at this young age is fulfilling his social responsibility and hope he will elevate this to 25%free health services.

Sri. P.K. Kunhalikutty, Hon'ble Minister for Industries and IT, Govt. of Kerala presented the memento to Dr.V.P. Shamsheer.

Members of Malabar Chamber of Commerce are eminent businessmen. Pravasi Bharatiya Samman Award is the most prestigious award for NRlsand to become the recipient of it at a very young age is remarkable. The business founded by Mr. P.K. Ahamed and his father are spreading out in multitudes are on an increasing note. The R&D of Dr. V.P. Shamsheer is excellent and the new generation of P.K. family is taking their business to greater heights. Knowledge and time are the two factors which is the basis and strength of business. The old concept of safe and secure Govt. job has totally changed and the private sector is gaining momentum. The average age of people are getting high. Previously most ofthe people died at the age of 50. Now it is 60 and going on to 70. I hope Dr.

Shamsheer could raise it to 150.

Sri. R.N.Saboo adorned ponnada on Dr. V.P. Shamsheer,on behalf of Malabar Chamber of Commerce. He said that God will help the new business generation of Peekayfamily who are satisfactorily complying to their social responsibility. Mr. K.E. Faizal and Dr.V.P. Shamsheer are excelling in this and are complying their social responsibility to the society with utmost sincerity.

Dr. M. Abdul Salam, Vice Chancellor of Calicut University said that Dr. V.P. Shamsheer is only 37 years old and nearly 6000 people are employed in his concern to meet his social obligation and the health services. Dr. Shamsheer is extending helping hand to many disabled persons.

Professionalism hasjoined hands with proficiency in the case of Dr.V.P. Shamsheer.

Sri. P.K. Ahmed, PastPresident said that he is extremely happy that both Sri. Mullappally Ramachandran. Hon'ble Union Minister of State for Home and Sri. P.K. Kunhalikutty, Hon'ble Minister for Industries and IT, Govt. of Kerala are attending today's program. Their presence has made the function grand.

Dr. V.P. Shamsheer, in his reply speech said that he finds it difficult to express his words in the presence of his beloved father and mother and other elders in the family. I was brought up like that. I had been taught to respect all coworkers even though they were of much inferior cadre. At the time when I was studying, I used to come to the shop and help my father in his business.Thus I was taughtto work hard, which had helped me to a great extent. Sri. Mullappally Ramachandran want me to do free service to 25% of the patients. Sri. P.K. Kunhalikutty want me to make people live upto the age of 150. I feel that both are not easy to be achieved. But I will try my level best.

Sri. A. ShyamSunder proposed the vote ofthanks.

Sineet'29

The Malabar Chamber of Commerce,Calicut

23

UltraTech C

E

MEN

T

The Engineer's Choice

!····2·1··~62=2·6"1··4····1 L

;

Interactive meeting with

Sri. Madhav Lal lAS,

Secretary, Ministry of Micro, Small and Medium Enterprises (MSME)

T

hough Kerala has immense business potential in the coir and tourism industries, more focus should be given to value added products, Ministry of Micro, Small and Medium Enterprises (MSME) Secretary Sri. Madhav Lal said on Friday.

Interacting with the office bearers of Malabar Chamber of Commerce here, he lauded the growth attained by the state in the coir and tourism sectors. "Kerala has a lot of coir-related products. The manufacturing ofthese value-added goods should be given more importance, he opined, adding that the growth of the tourism sector, blended with Ayurveda and others, was highly commendable.

He said" he don't know why Kerala missed the possibilities of Information Technology, though it has high educational standards and 100 percent literacy rates. However, there are many value-added services in the IT sector, ranging from designing, engineering design, animation and drawing and these are other areas which have immense possibilities," said the MSM ESecretary.

He also pointed out that there were opportunities forthe development offurniture business asthe state had built up unique Keralafurniture brand. Sri. Madhav Lalsaid that he was in the city as part of meeting entrepreneurs and reviewing the various programmes implemented by the Ministry of MSME in coir development and cluster development. He said focus should be given to value - added products. Cluster Development is given more thrust now and most ofthe clusters are performing very well.

Mr. M. Kumararaja, Secretary, Coirt Board, who also accompanied the MSME Secretary, told that launching of new products of the board would be held at the MSME meeting scheduled to be held on February 24 at Kalavoor in Alappuzha. MSME Development Institute Director Savyasachi Panikkassery, National Small Industries Corporation (NSIC) Deputy General Manager Sri. R. Saravana Kumar, NSIC Development Officer Sri. S.V. Shivaraj, Chamber President, Sri. Alok Kumar Saboo, Secretary, Sri. A. Shyam Sunder, Vice President Sri. K.P. Aboobacker, CA.C. Mohan, Joint Secretary Sri. M.A. Mehamoob, office bearers Sri. V. Noushad, Sri. P.M. Mohamed Koya,Sri. C.K. Abdul Rauf,Sri. K.E. Shanavaz,CAT. Gopakumar, Sri. N.K. Mohamad Ali and former President Sri. P. Zakeerwere present.

A. Shyam Sunder Hon. Secretary Sineet'29

The Malabar Chamber of Commerce,Calicut

With Best Compliments From

R Rohini ~e Pacl~

Your IUlaginat:ion

Mfrs of: HM HOPE I LOPE I PP Carry Bags, Pouches, Sheets & Rolls with Multicolour Flexographic and Rotogravure Printing.

ROHINI PLASTO PACK SAVO SADAN, MM ALI ROAD CALICUT - 673001 Tel: 0495-2701108, 2701481, Email: rohiniplasto@gmail.com

= I&minrnrn--------------------r···"66·~"63=2·6"1··4····1

L

.;

CEO Knowledge Forum held jointly with ICICI Bank and Calicut Management Association

O

n March 6, 2014, A session on CEO Knowledge Forum was held at The Gateway Hotel in Kozhikode, Kerala. The session focused on the unique challenges of entrepreneurs in Kerala and the opportunities for growth that lie ahead for them. Organised by ICICIBank in association with The Malabar Chamber of Commerce, The Calicut Management Association and Inc. India magazine, the high-powered event brought together over 100 CEO-founders of small and midsize companies based in Kerala. Mr Alok Kumar Saboo, President of The Malabar Chamber of Commerce made the opening speech and shared his experience of being from one of the first business families in Kozhikode. Dr Saji Gopinath, Dean - Development from the prestigious Indian Institute of Management, Kozhikode. gave deep research-based insights into the current state of entrepreneurship in the state, and Kozhikode in particular. His enlightening talk was followed by a session with Mr Rajesh Nair, Associate Director-Head Markets and Pursuits, Ernst and Young, who left the audience on an optimistic note about Kerala's distinct advantages as a talent hub for world class research and development. The evening concluded with a question and answer session with the speakers.

A. Shyam Sunder Secretary

_

2__ 8

ChamberNews auarterty News Magazine of MalabarChamberof Commerce

www.veekesy.com

INDIA'S

Na.1

~U

fOOTWEAR ~ ~

PRIDE OFTHE NEW UJORLD

Art No. 3060

Art No. 2050

Art No. 2064

Art No. 375

Art No. 024

Art No. 241

Veekesy Group Marketing Division, VKC Tower, Kolathara, Kozhikode -673655. Ph: 9526221100.

E-mail:contact@vkcgroup.com

steal the limelight

uncut diamond jewellery

Necklace: NERAXN04018, Studs: SERAXXSOI094

A n exc lu sive offe r ing f ro m

Make a bold statement that turns heads everywhere with ERA, a fusion of timeless Indian jewellery and modern trends. Exquisitely crafted in 22 karat gold, this designer collection features uncut diamonds and precious stones to complement your personal ity, perfectly.

Buy-back guarantee lOne year free insurance

Lifelong free maintenance

MALABAR

Call : 1860 425 0916 Over 100 showrooms across 8 countries

GOLD & DIAMONDS Buy online at: shopmgd.com

CELEBRATE THE BEAUTY OF LIFE

1"""'26'~03=2'O'1"4""j

L

.J

-

â&#x20AC;˘

: . , '.,

f '~ '"

.

,'.

~(MIliRlft CHAMBER OF t~~rm ~CI~~ n A'

DIVISIO

Awareness- cum -lntcractivesession on

,

,....

Work shop on Service Tax on works contract held jointly with Service Tax Commissionerate, Calicut

T

he program began with recitation of prayer. Sri Preveen Kumar from Service Tax Range, Calicut welcomed the gathering.Sri Alok Kumar Saboo President presided over the function. He said that Service Taxwas introduced by Dr. Man Mohan Singh when he was the Finance Minister. Now almost all services are liable to Service Tax, except a very few. It is not a very tedious processto complytothe law under Service Tax. Sri Vagish Kumar Singh, Asst. Commissioner of Central Excise, Customs and Service Tax inaugurated the Workshop.

We had conducted a similar one two weeks back and the response from the trade and industry was over whelming.

Hence we thought of conducting this workshop at a hall which could accommodate larger number of people.

Sri C.P.M. Abdul Rasheed said that Service Taxwas introduced in 2007. Since it was the beginning, there were a lot of confusion. In 2012 there were 114 items coming under the tax net work. Now there is a negative list, which are not coming under the ServiceTaxand exceptthis, all services are included in the tax net work.

The definitions seem to be simple, but there are lot of inner meanings After completion of work and a certificate issued and if a sale is effected, after that, there will no service Tax. It will be only a sale. In the caseof reconstruction or remodeling, service tax will be liable. In Government services the authority is President and in case of State Government, it will be Governor or others working on their behalf. Except these, none are Government services.

Local Authority or Panchayath will be represented by their Secretaries. Water Authority is like a local self Government. If Government is doing a service to a business man, he will be liable to pay tax and not Government. If a road or bridge is made solely for a private building and not open for the public, it will not be liable to pay tax. If a temple or mosque is made solely for a family or group it is not exempted. Predominant use of public in mosque or temple, it will get exempted.

Single residential units are exempted. The first completion of construction will be exempted. After that, additions will not be exempted. If one floor is rented out, it will be liable for tax. Ricewas not exempted first with agricultural products. Now it is exempted. If all pay tax voluntarily, there will no interest or penalty. But ifthe department find out, 18% interest will be charged.

Sri V. Narayanan, Superintendent briefed about the works contract service. Sri P.V. Narayanan, Superintendent spoke about availing of cenvat credit. In the interactive session, Mr. Alok Kumar Saboo, Sri K. Sreekumar and others participated. SriA. ShyamSunder Hony. Secretary proposed the vote ofthanks.

Sineet'29

The Malabar Chamber of Commerce,Calicut

1~f'()L

I N E

Your

Tax Dates A gril 2014

I.oo..-

5

TH Service Tax: Payment of ServiceTaxByAll Assesses KVAT: Works Contract TDS- by Awarders other than Govt.

Departments Duringthe month of March 2014

6TH Service Tax: E-Payment of ServiceTaxby All Assesses

7THIncome Tax: Remittance of TDS Collected during March 2014 Submission of 15G/15H Forms

1 OTHLuxUryTax: Monthly Returns 15THIncome Tax:TDS Returns Quarterly.

KVAT: Monthly Returns of every dealer whose Annual net Tax Payable For the preceding year was Rs. 10 Lakhs and above, Monthly Returns of Casual Traders Monthly

"---_ M a ~

20] 4! -

5 TH Service Tax: Payment of Service Tax By Corporate Assesses

6 TH KVAT: Payment of Works Contract TDS- by Awarders other than Govt. Departments during April 2014 Service Tax: E- Payment of Service Tax by Corporate Assesses

7TH Income Tax: Remittance of TDS Collected during April 2014 10TH LuxuryTax: Monthly Returns ESI: Filing of Half Yearly Return From October - March Previous Year

Returns of Clearing, Forwarding, Transporting, Shipping,

15TH KVAT: Monthly Returns of every dealer whose Annual

Courier etc. Provident Fund: Payment of Contribution

net Tax Payable For the preceding year was Rs. 10 Lahks

Amount

and above, Monthly Returns of Casual Traders and

20THKVAT: Monthly Returns of every dealer whose annual

Monthly Returns of Clearing, Forwarding, Transporting,

net Tax Payable for the Preceding year was above Rs. 2

Shipping,Courier etc. Provident Fund: Payment of

Lakhs but below Rs. 10 Lakhs. Works Contract TDS-by

Contribution Amount.

Govt Departments during March 2014 KML: Quarterly Returns forthe Previous Quarterending 31-03-2014

2 0 TH KVAT: Monthly Returns of every dealer whose annual net Tax Payable for the 21 25 Preceding year was above

21 ST ESI: Payment of Contribution.

Rs.2 Lakhs but below Rs. 10 Lakhs. Payment of Works

25 THKVAT: Monthly Returns of every dealer whose annual

Contract

net Tax payable for the Preceding year was below Rs. 2 Lakhs and others. Quarterly Returns of Works Contractors, Restaurants and Presumptive Dealers.

21 ST TOS by Govt. Departments during April 2014 ESI: Payment of Contribution.

25 TH KVAT: Monthly Returns of every dealer whose annual

Service Tax: Half Yearly Return for the period ending 31-

netTax payableforthe 30 31

03-2014. KVAT, CST, LT and KML: Registration Renewal

Precedingyearwas below Rs. 2 Lakhsand others.

and filing of Compounding Applications.

30TH Income Tax: Filing erros Certificates

3 0TH Income Tax: Filing erros Certificates 31 ST KVAT: Submission of Annual Returns and CST Annual Returns along with Profit & Loss Accounts for the year 2013-2014 of all assesses other than auditable casesand ClosingStock Inventory as on 31-03-2014.

_

3__ 2

ChamberNews Quarterty News Magazine of Malabar Chamber of Commerce

_

1~r=f)L

I N E

Changes in Service Tax, Excise Duty and Custom Duty Highlights of Interim Union Budget 2014-15 Bimal Jain FCA, FCS, LLB, B.Com (Hans)

T

he Hon'ble Finance Minister Sri. P. Chidambaram presented the Interim Budget for the fiscaIyear 201415 on Monday, February 17,2014 to cover expenditure until the Government's term ends in May, 2014.

While presenting the Interim Budget 2014 in Parliament, the Hon'ble Minister proposed no major changesin tax laws. He even expressed disappointment over delay in introduction of two of India's biggest tax reform initiatives-the Direct Taxes Code (DTe)and the Goods and ServicesTax(GST). The Government appealed to all political parties to resolve to pass the GST Laws and DTC in 2014-15. However, the Hon'ble Minister announced some changes in Indirect Tax Rates.

Exemption on handling, storage or warehousing of rice: The definition of 'agricultural produce' in section 65B(5) of the Finance Act, 1994, leads to a differential treatment between paddy and rice. Paddy is covered by the definition of agricultural produce which losesits essential characteristic after milling into rice. Notification 25/2012 dated June20, 2012 ("the Mega Exemption Notification") has been amended to insert an entry at SI. No. 40 which reads as "services by way of loading, unloading, packing, storage or warehousing of rice" to exempt levy of service tax on handling, storage and warehousing of rice.

[Amended vide Notification No.4/2014-ST dated 17th February 2014].

Exemption on transportation of rice: A clarification has been issuedvide Circular No. 177/3/2014 dated 17th February 2014 ("the Circular") that "food stuffincludes rice and hence service tax on transportation of rice by rail or a vessel or by a Goods Transport Agency by way of transport in a goods carriage, is exempt vide SI. Nos. 20(1) and 21(d) ofthe Mega Exemption Notification.

Exemption on millingofrice: Para 1.2 of the Circular clarifies that milling of paddy into rice carried out as job work is covered by the exemption at SI. No.30 of the Mega

Exemption Notification since such milling of paddy into rice is an intermediate production process.

Services provided by cord blood banks: Entry no. 2A has been inserted in the Mega Exemption Notification, which reads as "Services provided by cord blood banks by way of preservation of stem cells or any other service in relation to such preservation". Therefore, services provided by cord blood banks, such as collection of umbilical cord blood, processingthe same for segregation of stem cells,testing and cryo-preservation of stem cells will be exempt from levy of service tax.

[Amended vide Notification No.4/2014-ST dated 17th February 2014] CHANGES IN CENTRAL EXCISE: Excise duty on mobiles reduced: The exciseduty structure on mobile handsets has been restructured so as to provide that all mobile handsets will attract 1% excise duty, if CEN VAT benefit is not availed of and 6%if CENVAT benefit is availed of.

Consequently, all imported mobile handsets shall attract 6% CVD. [Amended vide notification No.4/2014-CentraIExcise dated 17.02.2014].

Reduction in Excise duty on capital goods falling under Chapter 84 & 85: The general excise duty on all machinery & equipment, appliances such as washing machine, air conditioner, refrigerators, computers, colour televisions, LCD, microwave oven, etc., and parts there offaII ing under Chapters 84 and 85 of the Central Excise Tariff has been reduced from 12% to 10%. It may be noted that the duty rates notified for the above goods are valid up to 30-06-2014 only.

[Amended vide notification No.4/2014-Central Excise dated 17.02.2014].

Reduction in Excise Duty on automobile items: The excise duty on following automobile items have been reduced as under: Further, in line with the duty reduction on commercial vehicles, the excise duty on chassis has been reduced appropriately. Duty has also been reduced on hybrid motor

The Malabar Chamber of Commerce,Calicut

+DrWash

1~f'()L

I N E

JDSON SALARY: Employees responsibility if employer defau s Amit Bajaj Advocate TDS on salary: Employees responsibility if employer this amount, you should calculate the tax payable as per the applicable tax rates. defaults The Income-Tax Act casts responsibility on the employer for Having arrived at the gross tax liability, reduce the amount of tax deduction at source (TDS) atthe time of payment of salary TDS suffered/ likely to be suffered on the above income. If the to employees whose salary income is above the maximum balance tax payable exceedsRs 5,000, you will be required to amount not chargeable to tax. The employer is required to comply with the advance tax provisions. The entire amount deduct TDS on salary at the average rate of income-tax and becomes payable as advance tax in three installments on or deposit the same with the government within the prescribed before September 15th, December 15th and March 15th, time. The employer is also required to file withholding tax during the financial year.ln case you miss the advance tax returns and issueTDS certificate tothe employee. installments, taxes can also be deposited by way of selfVarious penalties are levied on the employer in case of assessmenttax post April 1 (after the end offinancial year). In default, making the entire procedure equally painful for your case the employer has defaulted in TDS, it would be your responsibility to deposit taxes by way of advance taxi selfemployer.

So,you must have started realising that the grasson the other assessment tax as ultimately, taxes are to be deposited on side is not asgreen asyou thought. Though, from the above it your income. is understood that TDS is solely the obligation of the Failure to deposit taxes could lead to concealment of income employer but, if as an employee you are aware that there is a on your part, resulting in penalty to be paid byyou equivalent TDS default, then you may be held responsible too. If your to 100-300% of the tax amount not deposited.Further, there total income exceeds the maximum amount not chargeable are interest implications as well, but there are judicial to tax and no TDS is being deducted by the employer, then you precedents which indicate that if taxes were required to be are under an obligation to pay tax through the advance tax deposited by way of TDS and have not been done, the recipient of income is not required to pay interest. route.

Going forward, before you plan your month-end Youshould estimate your total income for the year that could comprise of salary, house property, interest income etc. celebrations, just glance through your pay stub. Instead of Relevant deductions applicable to each source of income, on creating a hue and cry over the tax figure, be thankful to your account of eligible investments, interest on housing loans, employer for taking care of your taxes and saving you from a lot of hassles. etc, can be considered to calculate the taxable income. On

Sineet'29

The Malabar Chamber of Commerce,Calicut

37

0

1n S IGH T

PROJECT MANAGEMENT A vital skill for personal success

P

roj ect Management encompassesalmost all aspects of our lives,not just our working lives.lf you think about it,it is in practicaIly everyth ingwe do-creating a new technology, designingan office building or a new home, managing a major event ,andrunning a fundraiser.

Project management principles can also beused in our personal lives-remodeling kitchen, designing a landscape, andplanning a wedding or a family vacation.Project Management is independent of industry,position and geography.Project Management is all about prediction and prevention.

Project management,as we know it todavflrst emerged in the early 1950's on large defense projects.lt was gradually ado ted b different or anizations, globally.Project Management is the application of knowledge, skills, tools, and techniques applied to project activities in order to meet the project objectives. Project management is a process that includes planning, putting the project plan into action, and measuring progress and performance.Surveys of organizations using project management have shown that project management allows for better utilization of resources, shorter development times,reduced costs, interdepartmental cooperation that builds synergies across the organization, and a betterfocus on results and quality.

If you enjoy working with people at all levels of the organizations,performing a variety of activities,managing and controlling outcomes,and solving problerns.vou will love the world of project management. It is a diverse career,as no two projects are ever the same.You might apply the same techniques,but the product is different,the stakeholders are different,and maybe even the company or the country you are working in isdifferent.

One ofthe main reasonsfor "challenged"projects which are late, over budget, and/or with less than the required features and functions,around the world, is due to lack of

38

_ _ _..J

ChamberNews

QuarterlyNews Magazineof MalabarChamberof Commerce

good project management practices.

Applying good project management discipline is the way to help reduce the risks. Having good project management skills does not completely eliminate problems, risks, or surprises. The value of good project management is that you have standard processes in place to deal with all contingencies.On any project, you will have a number of competing project constraints that are competing for your attention. Project constraints,but not limited to are, cost, scope, quality, resourcesand time.

Planning playsa key role in project management.Sometimes people adopt a ready-fire-aim approach to get a job done really fast and end up spending far more than necessary by reworking errors and so on.lfyou do not have a plan.you will never be able to control your project effectively.Planning is a dynamic and continuous process to enable you to remain proactive throughout the project.

People have this misconception about project management that, it is just scheduling.In fact, the only thing a detailed schedule is going to do.without good project management, is to allow you to document your failures with great precision!. Communicating the right information to the right people at the right time helps assureproject success.You can never over-communicate when you follow this rule.

The role of the project manager is that of a facilitator.Yourjob as a project manager is to help the team members get the work completed,by getting them the scarce resources they need,and to buffer them from external forces that would disrupt the work.lnshort,in addition to the professional competence you posses,you should be-above everything-a leader,in the true sense of the word.Project Managers have been characterized as "a mile wide and an inch deep"-their skills cover a broad range of general management disciplines.

As part of good project management practices, we need to apply globally recognizedtools, techniques and processes to the projects, so that we could run and complete the projects more systematically and efficiently. After all, project management is a philosophy of management and becomes effective only when you start applying it.

To me,Project Management is a life changing skill and the good part is,all the skills are learnable..

C

apital gains arise when the consideration received on transfer or sale of a property is more than its indexed cost. The amount of capital gains that is not appropriated by an assessee towards the purchase of another property within one year from the date of transfer of the original property, or that is not utilised by him for the purchase or construction of a new property before the date of furnishing the return of income, should be deposited by him in a specified nationalised bank. The amount should be invested in a 'Capital Gains Account Scheme' under the Capital Gains Account Scheme, 1988. The scheme is applicable to all assessees having capital gains. The deposits may be made in one lump sum or in installments at any time.

The amount should be deposited before the due date for filing income tax returns.

Who are eligible to take the advantage? -Mainly, the advantage of Capital Gains Account Scheme can be derived by individuals and Hindu Undivided Family. To be more precise, all those tax payers who would like to invest in buying a residential property or in constructing a residential property so as to save tax in respect of long-term capital gain can find much advantage in this scheme known asCapital GainsAccounts Scheme1988.

Before analysing the salient features of this scheme, it may be recalled here that to savetax on capital gain, various ......

April 10, 2010, in that event he must make the investment in acquiring new residential property within two years from the date of sale or when the said property is proposed to be constructed then within three yearsfrom the date of sale.

However, there is also a condition that if the tax payer is not able to buy or construct the said property by the last date of filing the income tax return, in that event the amount has to be deposited in the Capital Gains Accounts Scheme. For example, as mentioned above, ifthe property is sold on April 10,2010, the tax payerscan buy or construct the property by July 31,2011, which happens toebe the last date of filing the

provisions are contained in the Income Tax Act, 1961 whereby if investment is made within two years from the date of sale one can save capital gain tax in respect of long-term gain, especially if the investment is made in acquiring another

Bank of Travancore, Central Bank of India, Bank of India, Punjab National Bank, Bank of Baroda, UCO Bank, Canara Bank,United Bankof India, DenaBank,SyndicateBank,Union Bank of India, Allahabad Bank, Indian Bank, Bank of Maharashtra , Indian Overseas Bank, Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab & Sind Bank & Vijaya Bank.All branches of these banks except the rural branches are authorized to receive the deposit and maintain account under Capital Gains Accounts Scheme,1988. Other than the above, no other bank is authorized to accept the deposit under Capital Gains

income tax return.

In a situation where such purchase or construction is not completed by July 31,2011 in that event the money must be deposited on or before July 31,2011, that is, the last date of filing the income tax return in terms of the Capital Gains Accounts Scheme.

List of Banks who can Accept Deposit -The account under Capital Gains Accounts Scheme cannot be opened in

Capital Gains Accounts Scheme

How to open / Tax Benefits

residential property.

Similarly, if the tax payers were to construct a residential property then the time period for completing the construction is within three years from the date of sale. Now, in between comesthe role of Capital GainsAccounts Scheme.

All those tax payers who are taking advantage of the above mentioned schemes of making investment in residential property are advised to take advantage of the Capital Gains Accounts Scheme, especially if they are not able to make investment in residential property by the last date offiling the income tax return.

For example, if a person derives long-term capital gain on

-.1

all the branches and with all the banks. The government has identified the following 28 banks to accept the deposit under Capital Gains Accounts Scheme 1988. These banks are: State Bank of India, State Bank of Bikaner & Jaipur, State Bankof Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Patiala, State Bankof Saurashtra,State

Accounts Scheme.

Account Type Under Capital Gains Accounts Scheme- Under the schemethere can be two types of accounts.

Deposit Account A: This account is like a savings deposit account. Withdrawals may be made from the account from

The Malabar Chamber of Commerce,Calicut

39

Flagship Departments • • • •

BMH Heart Centre BMH Institute of Oncology BMH Institute of Neuro Sciences Dept. Of Plastic, Reconstructive Micro Vascular & Cosmetic Surgery • Dept. of Arthroscopy & Sports Injuries

• • • • • • •

The largest hospital in the corporate sector in Kerala 800 beds and over 40 Medical and Surgical Departments Visited by over 1500 patients every day 18world class Operation Theatres Fully equipped ultra modern IGUs 24 hours Accident and Trauma care unit More than 200 doctors and over 2000 nursing, paramedical and admin staff • Prominent destination for Medical Tourism • Providing high quality academic opportunities

Baby Memorial Hospital

(NABH Accredited, ISO 9001 :2008 & ISO 1400 1:2004 Certified Hospital)

Indira Gandhi Road, Koz hikode , KeraIa, Ind ia Phone : +9 1 - 495 - 2777777, +9 1 - 495 - 2723272 info @babym hosp ita I .org , www.ba bym hospi ta I .org

@ ~

\II ~~~ H

time to time, subject to other conditions of the scheme. This account is suitable for assessees who are planning to

apply in form No C. After receiving the application the bank

construct a house over a period oftime.

noted here that where the amount of withdrawal exceeds Rs

Deposit Account B: This account is like a term deposit that is payable after a fixed period of time. The interest earned on

25,000, the bank will make the payment by way of crossed demand draft drawn in favour of the person to whom the

the deposit may either be withdrawn periodically or it may be

depositor intends to make the payment. Tax payers should

reinvested.

also note that other than the initial withdrawal later on when

In order to open the account, an assessee must fill up the prescribed application form in duplicate. Further, the type of

the withdrawals are made by the tax payers,they shall furnish in Form No D in duplicate, the details regarding the manner

account - A or B- is to be specified. In caseDeposit Account B

and the extent of utilizing of the amount in respect of the

is opted for, it hasto be specified whether the account will be cumulative or non-cumulative. The proof of such deposit should be attached with the income tax returns.

Both the accounts will be eligible to interest as per the

shall permit the withdrawal of the amount. It may also be

immediately preceding withdrawal. The bank after receiving two copies of Form D from the accountholder will retain one copy and retu rn the other copy to the tax payer.

Forms Eand G-The scheme further provides that the amount

guidelines of the Reserve Bank of India. Moreover, a

which has been withdrawn should be utilized for purchase or

depositor may make or change nominations to the account

construction of the property within 60 days from the date of

byfilling in the relevant forms.

such withdrawal. The facility of nomination is also available to the deposit holder by filling up Form No E. Finally, when the

The amount can be utilised in accordance with the scheme which the Central Government may frame. The amount

property has been purchased or the construction has been

withdrawn should be utilised for the purpose of purchase or

completed and now the tax payer desires to close his Capital

construction of a house.The amount withdrawn should be utilised for the purpose within sixty days of the withdrawal.

GainsAccount Schemethen he shall make an application with the approval of the assessing officer. The application for

Any unutilised amount should be redeposited in Deposit

closure of the account will be in Form G. Whenever you are

AccountA. The amount already utilised by an assessee forthe purpose of

contemplating to make a deposit in respect of Capital Gains Account Scheme,either by way of a savingsaccount or a fixed

purchase or construction of a new property together with the

deposit account, then please remember that you do not

amount deposited will be deemed to be the cost of the new

open the normal savings bank account or a normal saving

property. In casethe amount deposited is not utilised wholly or partly for the purchaseor construction of the new property

bank deposit but specifically fill up No A and then make the deposit with the concerned bank under the Capital Gains

within the period specified, then the unutilised amount will be charged asincome ofthe previous year in which the period

Accounts Scheme.

Opening a bank account for Capital Gains Account Scheme-

of three years from the date of the transfer of the original property expires.

Once the deposit is made by you either in the savingsaccount or in the fixed deposit account, please ensure that it is clearly

Further, an assessee will be entitled to withdraw the amount

mentioned in the account opened that it is for Capital Gains

in accordance with the provisions of the scheme.

Account Scheme. A large number of tax payers commit the

The withdrawals from Deposit Account Acan be made through a prescribed form. In case of Deposit Account B, a

mistake of just opening a bank account with a bank to save capital gains and later on use the money for buying or

depositor will first have to transfer the amount to Deposit

constructing the residential property. But please do

Account A,and then make the withdrawal. The amounts can

remember that the income tax law very specifically provides

be transferred from one branch of a bank to another branch of the same bank only. A depositor may close the account

that the money which has not been used for buying or constructing a residential property, such money should be

with the approval ofthe assessing officer.

kept exclusively under Capital Gains Accounts Scheme under

Forms Cand D - Similarly, it is possible to convert the deposit

a separate bank account in terms of Capital Gains Accounts

Account B to the deposit Account A. As and when the money is required to be withdrawn for the purposes of making

Scheme. Also do remember that the deposits in these accounts can be made in one lump sum or in instalment.

payment jipr the residential property, the assessee shall Sineet'29

The Malabar Chamber of Commerce,Calicut

Q&A

, Q: Which important mode for payment should be present in a trade agreement between the two traders from different countries?

Ans: Two broad methods of financing international transactions are direct payment between seller and buyer or finance through banks. Practically, payment is effected by the followi ng methods: Cash in Advance: buyer trans-fers funds to the seller's account in advance pursuantto the salecon-tract.

Open Account: Arrangement for the buyer to advance funds to an 'open account' of the seller on a fixed date or upon the occurrence of a specified event, such as delivery of the goods.

Bills of Exchange: Negotiable instrument representing an orderto the bank in writing to pay a certain sum of money to the bearer (or specified person) on demand, or at a fixed or determinable future time.

Documentary Bill: Seller (drawer) draws a bill of exchangeon the buyer (drawee) and attaches it to the bill of lading. The idea is to secure acceptance of the bill of exchange by the buyer; and the buyer is bound to return the bill of lading if he does not honour the bill of exchange.

Documentary Credits: The bankon behalfofbuyer, issues a letter of credit undertaking to pay the price of the sale contract on condition that the seller complies with credit terms. Upon presentation of necessary commercial documents verifying shipment of goods, the bank collects payment for goods on behalf of the seller. In the collection process, the buyer pays for goods in exchange for title documents. Under this method the bank guarantees the buyer's title to the goods and guarantees payment to the seller.

Q: What are the intellectual property protections available to a product?

Ans: Intellectual property protections available to products are patents, trademarks, copyright, design protection, trade secret and trade dress protection.

42

_ _ _..I

ChamberNews

Quarter1y NewsMagazine of MalabarChamberof Commerce

Q: Why to protect industrial design?

Ans: Industrial designs are what make a product attractive and ap-pealing. Hence, they add to the commercial value of a product and increase its marketability. When an industrial design is protected, this helps to ensure a fair return on investment. An effective system of protection also benefits consumers and the public at large, by promoting fair competition and honest trade practices. Protecting industrial designs helps economic development, by encouraging creativity in the industrial and manufacturing sectors and contributes to the ex-pansion of commercial activities and the export of national products. In India Industrial design should be registered in orderto get the protection.

Q: I have developed a very unique Software, how can I claim exclusivity and protect the same from Piracy?

Ans: Computer Software or software programme can be registered as a literary work under the Copyright Act. As per Section 2 (0) of the Copyright Act "literary work" includes computer programmes, tables and compilations, including computer databases. 'Source code' has also to be supplied along with the application for registration of copyright for software products.

Q: What is compulsory licensing under patent regime?

Ans: A compulsory license can be defined asan authorization given by the Government to a person for the exploitation of a patent without the consent of the patent holder. This obviously works against the interest of the patent holder but compulsory licenses are considered as a necessity in certain cases like cases of national emergency and health crisis. Even TRIPS allows flexibilities in the form of compulsory licenses on the fulfillment of certain prerequisite conditions. Indian Patent Act has many sections devoted to the grant of compulsory licenses. Laws have been detailed in the Act on this issue. It gives a discretionary power on the Controller under certain circumstances to decide on applications of compulsory licenses. Detailed procedure is also engrafted in the Act. It seems that most of the provisions of our patent act relating to compulsory licensesconform to the TRI PS agreement.

mmg SINCE 1972

Art No D 425

Art No: D 514

Colour Size

Colour : Violet BK :5 -8 Size

VIO 4- 8

Art No: D 6 13 Colour : via Size : 4 -8

Art No: D 708 Colour : Violet BK Size : 1 -4

Art No : D 421

Art No : D 411

Art No : D 611

Colour : BLK GLD Size :4 - 8

Colour : BkiRed Size :5 - 8

Colour : Black Size :4 - 8

Art No : 5G 414

ArtNo: 5G 221

Art No: 5G 412

Art No: 5G 4 13

Colour : Cream/Blk Size : 6 - 10

Colour : Red/Blk Size : 1 - 5

Colour : BlklRed Size : 6 - 10

Colour : BlklRed Size : 6 - 10

Art No: 5G 226 Colour : M. Black Size : 7- 10

The Finer Side Of Walking

8/50, Moonalingal, Calicut路 673032. Ph: 04954070000 (21 Lines), E-mail: info@josco.com, www.josco.com

44 .----_..J

DATE

TRADE FAIR

PROFILE

VENUE

May 27-28

LOPE-C

Organic & Printed Electronics

Jun 02-04

London Wine Fair

Wine Fair

London, UK

Jun 01-05

L1FI

Light Fair

Las Vegas,USA

Jun 03-05

MEDTEC

Medical Technology

Stuttgut, Germany

Jun 03-05

ELENEX

Electronic Industry

HongKong, China

Jun 14

Vietnam Auto Expo

Automobiles, Supporting

Munich, Germany

Hanoi, Vietnam

Industries Jun9-12

Guangzhou Electrical

Electrical &

Building Technology

Building Technology

Jun9-12

Sino Dental

Dental Technology

Jun 11-13

EMEH

Medical Devices Exhibition

Jun 14

MDM East

Medical Design & Manufacturing East

Jun 19-22

Inter plast Thailand 2014

Plastic & Rubber Trade

Jun 19-22

Nepcon

Electronic & Power Engineering

June 25-28

Food Taipei

Taipei IntI. Food Show

Jun 26 - 28

Vietnam Internatioal

Construction & Building

Guangzhou, China Beijing, China Shaghai, China

Philadelphia, USA Thailand

Bangkok, Thailand Taipei, Taiwan Vietnam

Construction & Building Exhibition Jun

Coal Equipment & Mining

Beijing

China

Technology Jul

Fatex

Clothing and Textiles

Ju106-10

Semicon West 2014

Event for Micro Electronic Industry

France

Taipei, Taiwan

Jul 8-11

CBD Fair

Building Decoration

Guangzhou, China

Jul 14

China Changchun

Automobile

Changchun, China

Automobile Fair

ChamberNews

Quarterly News Magazine of Malabar Chamber of Commerce

Additional capital for improving or expanding your current business.

Financial aid for a new set up.

Loans for hardware. software. staff. equipment. land and more.

•

Easy procedures.

III

c:

sir o

A LongTradition ofTrust

MSME Contractor Plus Tourism Special Doctor's Special SME Easy Loan Food & Agro Based Industry MSME Gold Loan MSME Vyapar Mithra & More.

o

>-

...CJ III

••

STATE BANK OF TRAVANCORE

www.statebankoftravancore.com

Head office, Thiruvananthapuram - 12

Toll Free: 18004255566

MANUFACTURING or SERVICES...

FOR TEXTILE & JUTE INDUSTRIES Objective To provide encouragement to textile industrial units in the small scale sector for taking up technology upgradation & modemisation of their production facilities .

Scope ofthe scheme cot ton ginning and pressing, textile industry and jute industry.

Eligible borrowers Sole Proprietorships, Partnerships, Co-operative Societies, Private and Public Limited Companies ,

Interest reimbursement ~ ~

Reimbursement of five per cent interest charged by the Financial InstitutionslBanks for Technology Upgradation Projects.

Coverage of exchange rate erosion not exceeding 5% points per annum in respect of foreign currency loans instead of 5% interest support.

Credit Linked Capital Subsidy Scheme (CLCSS-TUFS) ~

Welre always there to support

For Small Scale Textile and Jute Industrial Units, an option to avail either 15% Credit Linked Capital Subsidy (CLCS) or existing 5% interest reimbursement. ~ Additional incentive in the form of 10% capital subsidy for the processing machinery over and above 5% interest subsidy. ~ Handl oom sector : An option of availing credit linked 25% capital subsidy in lieu of 5% interest subsidy. ~ Powerloom units : An option of availing 20% capital subsidy in lieu of 5% interest subsidy,

Credit Linked Capital Subsidy Scheme (CLCSS) The scheme aims at facilitating technology upgradation by providing 15% upfront capital subsidy to SSI units (including tiny, khadi, village and coir industrial units). ~ The admissible capital subsidy based on the purchase price of plant & machinery.

(PNB is nodal bank for release of subsidy I incentives) .

~

!!

11

~

PNB is one of the nodal bank for disbu rsement of Interestlncenlive & Capital Subsidy

For further details, contact your nearest PNB Branch or Dial 0124¡2340000 or AU India TaU Free No. 18001802222 from land line.

â&#x20AC;˘ Collateral free/without third party guarantee loans to Micro & Small Enterprises up, to Rs.100 lac.

\II pun)~h~n~~~!~~~~~~n~

~

I

~ .' II§

En

I

"'~>-

~ -)1 ~

z

0

•I l

~

0 0

~ ~i

>~ c 0:::

WW ~u

o:::Z «w

I! ai' -:1

~j~

C

~

fa

.c u

~

@ CU I;

1 1

Vl ,

~ .... '~

-.......J ~

1

II:

~.

II: ; II: ;

2m

eIII

~

~

II

~

I Ii I

;~ :~ I

~J

~

I I

Reg. No. KLINR/5-1/2003-2005

Reg. No. R 7644/63

CREDJ\'I

www.crescent-builders.com

RARE... PRECIOUS Platinum Crescent, Signature Residences, Near Malabar Christian College, Wayanad Road, Calicut. An ideal destination to retreat, relax and rediscover.

The perfect choice for those with high expectations.

PLATINUM CRESCENT

30000 SQUARE FEET OF DEDICATED RECREATION AREA

- ~------+-----;.

-ii

'i) ~

ISO9001-2008

R.B.G. Arcade, 1st Floor, Opp. Gandhi Park, 6/1200 S,Cherooty Road, Calicut-673 032.

Ph: +91495 2365831/3293909. Fax: 2365806. E-mail: sales@crescent-builders.com

Call: 1800 270 0220, + 91 9744 999 888 Printed and Published by J. A. Majeed for the Malabar Chamber of Commerce, Calicut 673032, Editor: Roshan Kynadi Ph: 2365282, 2365292, Fax: 04952766191 email: malabarchamber@yahoo.co.in