The appointment of chief executive officer requires prior permission of the IRDA. There are three lists given in the constitution where the state and central government can make laws. Section 148 grants an Assessing Officer the power to either assess or re-assess any taxable income that may have gone under the radar, and has not been assessed as per the stipulated guidelines of the Income Tax Act. The deputy commissioner of a district is by virtue of his office its collector a revenue officer who is transferred from one district to another retains Role, Functions and Duties of the Police in General 2. The Police have the power to investigate Cognizable as well as Non-Cognizable offences. May exercise emergency authority to prevent or stop unsafe acts when immediate action is required. Functions and powers of District Education Officer To ensure that the business of the group of offices under his administrative control is carried out in accordance with law and the rules and the human and material resources placed at his disposal are optimally utilized to improve governance. Police officers can investigate Cognizable offences without the magistrate’s orders. Shall exercise general supervision over all assessors of general property or other taxes, over township, county, and city boards of equalization and over all other assessing officers, in the performance of their duties, to the end that all assessments of property be made relatively just and equal in compliance with the laws of the state. The Central Board of Direct Taxes (CBDT) is the highest executive authority. But during the national emergency, the central government can also make the laws in the state list. Tax Recovery Officer to exercise or perform certain powers and functions of an Assessing Officer As per the Rule 117C of the Income Tax Rules. It is authorized to discharge all those functions prescribed in the Act and those which are entrusted to it by the Central Government. Municipalities are public corporations created by the legislature for political purposes, with political powers, to be exercised for purposes related to the public good, in the administration of civil government[i]. Assessing Officer is clearly defined in Section 2(7) and it doesn't relate to section 116. Continue reading powers and functions of lok sabha. (1) (a) The Finance and Accounts Officer shall be the principal Officer. (1) The Chief Commissioner or the Commissioner, by general or special order in writing, may authorise a Tax Recovery Officer Because of duplicity of powers conferred on the assessing officer and the authorized officers a reasonable amount of excess implementation is being subjected on the searched assessee. Powers and Duties of the Finance and Accounts Officer in Maharashtra University Act, 1994 . 117C. 1) In India, the Parliamentary form of government has been adopted; therefore, there is a distinction between the Real and the Nominal Executive. 11. It was established on January 25, 1950. 1.2. POWER OF INCOME TAX AUTHORITIES RELATING TO SEARCH AND SEIZURE [ SECTION 132] Entering and Searching the Premises : Where the Director General or Director or the Chief Commissioner or Commissioner or any such Joint Director or Joint Commissioner as may be empowered in this behalf by the Board , in consequence of information in his possession, has reason to believe that— [Tax Recovery Officer to exercise or perform certain powers and functions of an Assessing Officer. IAS officer is one of the elite jobs in government jobs. ise or perform certain powers and functions of an Assessing Officer. Search action under Section 132 is an extreme step. Home from Home Care Job Description – Assessment Officer April 2008 - 1 of 2 - Home from Home Care Job Description – Assessment Officer April 2008 JOB DESCRIPTION – Assessment Officer. It was been authorized in the year 1973 and came into existence or force or commenced on 1st April 1974. 12. Power of the Assessing Officer Under Section 148. The role and functions of the police in general are: (a) to uphold and enforce the law impartially, and to protect life, liberty, property, Financial He is the Drawing and Disbursing Officer Others He is also Conciliation Officer under the provisions of the Industrial Disputes Act, 1947. As per the provisions of the Section 22 of the Reserve Bank of India Act 1934 the RBI has sole right or authority to issue currency notes except one rupee note and coins of smaller denomination.RBI can exchange these currency notes for other denominations. Officer to deal with the district administration and coordinate with the Head Office on behalf of all the officers. which result in making a large inventory of duties, functions, powers, roles and responsibilities of the police organisation. Shall perform all the duties enjoined upon him/her. Powers and Functions of Lok Sabha - The lower house of parliament is called Lok Sabha or House of the people. 251. 3. Composition of IRDA It is also called the Popular house because its members are elected directly by the people. To regulate the activities of stock exchange following functions are performed: (i) SEBI has framed rules and regulations and a code of conduct to regulate the intermediaries such as merchant bankers, brokers, underwriters, etc. The officer has the power to call for information from any person either with regard to his own matters or in case of a third person, with whom the person has any dealings, which are covered under various sections of the Income Tax Act. All insurance agents must obtain license from IRDA. 1. A CEO, which stands for Chief Executive Officer, is the highest-ranking individual in a company Corporation A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit. Correct unsafe acts or conditions through the regular line of authority. 16 October 2013 No. 2) The President of India is the Nominal Executive and the Council of Ministers is the Real Executive. Maintaining industrial peace being the main function of … He shall be full-time salaried officer and shall work directly under the control of the Vice-Chancellor; The Election Commission of India, abbreviated as ECI is a constitutional body responsible for administering elections in India according to the rules and regulations mentioned in the Constitution of India.. Define Assessing Officer. Powers under Section 131(1A) can be exercised on ‘reason to suspect’ depending on the nature of the case. Assessing Officer means the Income-tax Officer or Assistant Commissioner of Income-tax or Deputy Commissioner of Income-tax or Joint Commissioner of Income-tax or Additional Commissioner of Income-tax who is authorised by the Board to exercise or perform all or any of the powers and functions conferred on, or assigned to, an Assessing Officer under this Chapter; Assistant Commissioner 27[or Deputy Commissioner] 2. 117C. Regulatory Functions: These functions are performed by SEBI to regulate the business in stock exchange. Article 19 of the constitution of India shall remain suspended during the national emergency. RBI issues these currency notes ( 2, 5, 10, 20, 50, 100, 500, 1000) against the security of gold bullion, foreign securities, rupee … means an officer of a State Government or Board or licensee, as the case may be, designated as such by the State Government; The Senate, but not the House of Representatives, has the power to approve treaties with foreign governments as well. The job has the same responsibilities as it has powers. The Code of Criminal Procedure (CrPC) is an effective proceeding law of India, which promulgates certain punishments for the offenders or delinquents, under criminal law. Developing measures to assure personnel safety. IRDA has powers for levying penalty on companies which fail to comply with the rules and regulations. There are five classes of revenue officers: the financial commissioner, the commissioner, the collector, the assistant collector of the 1st grade, and the assistant collector of the 2nd grade. If a Police officer suspects the commission of a cognizable offence, he has the power to investigate under section 157 … The IAS officer’s strength and power depend on the pay scale. 13. The business in stock exchange is the Real Executive functions of an Assessing Officer a. Emergency, the Central government can make laws government jobs by SEBI to regulate the business in stock.! 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