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: cpt :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: form 3cd :: empanelment :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Service Tax »
 GST: The Game Changer For E-Commerce Sector
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-7)(Meaning Of Important Terms)
 GST Council may clarify on tax rate for solar modules at 3 June meeting
 Rules not ready, key e-way bill for GST may be delayed, says top official
 How Goods and Service tax will benefit the nation
 GST implementation may increase expense ratio of fund houses
 GST structure: an unfortunate compromise
 Extension Of Provisional Attachment Under Service Tax Provisins
 How favourable will GST be for Karnataka?
 GST rate impact: Here’s how the new tax can carry a greater punch
 E-way Bill - movement of goods under GST

No service tax on legal outfits
July, 10th 2009

Many legal outfits will not come within the purview of the service tax proposed to be imposed on legal consultancy services as they operate as sole proprietorships, say experts.

As the service tax will apply on advice provided by a business entity to another business entity, sole proprietorships will not come within the purview of the proposed service tax, said Diljeet Titus, senior partner of law firm Titus and Co.

Expressing similar opinion, Atul Gupta, member of the ICAI Executive Committee (northern region) said, as sole proprietorships are not business entities they will not be required to pay service tax. This is a discrepancy and needs to be corrected.

Many of the legal outfits, which provide consultancy services to corporates that include drafting merger and acquisition agreements, preparing MoUs, rendering advice etc, operate as sole proprietorships.

Only law firms, which are business entities under the Indian Partnership Act or the Limited Liability Partnership Act, will be have to pay service tax on fees charged from corporates, said Hemant Batra, lead partner Kaden Boriss.

While proposing to extend the ambit of service tax to cover legal advice and consultancy, finance minister Pranab Mukherjee in his budget speech clarified, This (service tax) will not be applicable in case the service provider or the service receiver is an individual.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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