english final - Birbal Sahni Institute of Palaeobotany

BIRBAL SAHNI INSTITUTE OF PALAEOBOTANY
Annual Report 2004-2005
Comments/Observations by the Chartered
Accountants
in calculating and deducting tax at source on Pension
payments:
4.The Institute should adopt double entry system of accounting
for more effective and meaningful maintenance
of accounting records. It will also help proper
accounting records comparable with standards applicable
in India.
Action taken by the Institute
income tax limit. The Pensioners above income tax
limit have submitted documentary proofs of various
income tax saving schemes to save income tax and
hence tax deducted at source has been regulated
accordingly.
Efforts are under way for the Institute to adopt double
entry system of accounting.
LIBRARY
5. As per the Bye Laws/Rules of the Institute the Physical
Verification of the Library is to be carried out at an
interval of 2 years. Verification for the year 2004-05
has become due but discrepancies mentioned in the
year 2002-03 are yet to be taken up for eventual rectification.
Physical vertification of Library for 2002-03 has been
completed and report has been submitted. 33
publications/books are still missing and efforts are being
made to trace them.
Physical verification of Library for 2004-05 is in process.
PUBLICATION
6. On scrutiny of records of the priced publication of the
Institute, it has been observed that during last several
years, the Institute had brought out publications on
different subjects with an objective to sell out the same,
in the market. The stock position of these priced publications
as on 31.03.05 was Rs.43.25 Lacs apart from
the reserved stock of Rs.6.68 Lacs. Thus, the total
stock of the publications stood at Rs.49.93 Lacs at
the close of the year, which seems to be on higher
side. A practical assessment has to be made for the
quantity to be got printed together with its economics
etc. so that wastage and blockage of funds can be
avoided.
The Institute authorities are expected to make it certain
that wasteful avoidable expenses on any account is
avoided by effective assessment.
The F&B Committee during its meeting held on October
26, 2004 has recommended that the prized publications
published before 2000 be given to Institutions/Universities
for Institutional/ Library use free of cost on request.
Accordingly, advertisement has been hosted in our
Institute’s Website and advertisement has been given in
the Current Science. Some requests from different
Universities have already been received. The GB during
its meeting held on September 09, 2005 has decided to
introduce a special five years subscription offer of the
Journal ‘The Palaeobotanist’ and has advised that letters
be written to Heads of Departments of Botany and
Geology of different Universities informing them of various
Schemes available to individual and institutional
subscribers.
Identification of marketing agency willing to purchase the
unsold publications on the Institute’s terms and conditions
is also being looked into.
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