Banks, insurers, auto makers and logistics and infrastructure companies are among those hiring at a slower pace, according to the study by Care Ratings Ltd. that relied on annual reports for the year ended March from nearly 1,000 companies. The services sector, which accounts for a bulk of the economy, was the lone sweet spot that displayed robust jobs growth, the study by the credit assessor showed.

Besides, the entities that fail to approach the bourses for listing of equity shares within 20 days from allotment and fail to make application for trading approval to the stock exchange within seven days from the date of grant of listing approval are also liable for paying the penalty.

The task force was assigned to draft direct tax laws in line with the norms prevalent in other countries, incorporating international best practices, and keeping in mind the economic needs of the country.The proposals in the draft code are aimed at bringing more certainty to taxation of personal and corporate income and capital gains, and at bringing the gist of numerous judicial pronouncements made since 1961, when the current tax law came into force, in one place for easy reference. It could improve ease of doing business and reduce the compliance burden as well as tax disputes.