Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: due date for vat payment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Directions under section 119 of the Income-tax Act, 1961
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful

Service tax net awaits legal eagles
January, 23rd 2007

Legal eagles, who have escaped the service tax net so far, may not be so lucky in Budget 07-08. The government is considering bringing legal consultancy under the service tax net.

Sources said there was a strong case for bringing legal services to corporates under the tax net. Legal consultancy, especially in business circles, is a growing sector in view of the hectic M&A activity under way in India Inc as well as intellectual property rights filings.

However, representing in a court may be kept out of the ambit. The model followed in the case of chartered accountants may come in handy. Since companies cannot represent in court of law, there was a case for bringing them under the tax net. Chartered accountants, who had challenged the levy of service tax, had argued against it giving the example of lawyers.

Finance minister P Chidambaram had earlier said in due course all services, barring a negative list of essential services, would be brought under the service tax net. The parliamentary committee on finance has also asked the government to bring all services, barring essential ones, under the service tax net. The Centre, which has proposed to transfer legal advisory and representation services in the different fields of law, legal advisory and representation services in statutory procedures of quasi-judicial tribunals, boards, legal documentation and certification services, is likely to retain corporate consultancy services under its ambit.

According to Luthra & Luthra founder and managing partner Rajiv Luthra, if all the services of similar nature are subject to service tax, there is no reason to keep lawyers out. But, like doctors, who have been kept out of the net, lawyers too have a noble profession to perform, and they render a service which is very fundamental to the society.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions