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Beneficiary Account

A beneficiary account is a Demat account in the name of an Individual (single or jointly). Such an account could also be in the name of a Corporate, a partnership firm, a society and a trust. It is similar to a bank account. This account is to be used for transacting in commodity balances held by the account holder at Exchange accredited warehouses. These commodity balances would have been - in a physical process set up - represented through a warehouse receipt.

News On Beneficiary Account
PAC for action against tax amnesty beneficiary-turned-evaders

03-03-2017| Source:PTI

The Public Accounts Committee wants action against people who had availed service tax amnesty scheme in 2013 but never filed any taxes thereafter.

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