Vignesh P (Company Secretary) (109 Points)
27 July 2016
Mandar
(Associate)
(561 Points)
Replied 27 July 2016
As per my view it would fall under "Management Services" under Section 144 of the Act. Since statutory Auditors are appointed by shareholders for audit and responsiblity of filing returns vests on Company.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 28 July 2016
It is common for statutory auditors to also act as tax consultants for the company. Work relating to tax consultancy does not come under "Management Services" and is not prohibited.
Vignesh P
(Company Secretary)
(109 Points)
Replied 28 July 2016
Thank you sir, Can you please clarify which all services would fall under the category of "Management services"...??
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 28 July 2016
There is difference between 'management services' and 'management consultancy services'. While activities relating to day-to-day management of the company may fall under 'management services', giving consultancy may be 'management consultancy services'. Proper classification will depend upon facts of each case.
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