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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 3rd instalment of advance tax due on 15 December
 Tax on your gold and real estate investments
 Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018
 Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to challan, forms
 Notification No. 96/2018 -Central Board Of Indirect Taxes And Customs
 Here’s how you can check your ITR refund status online
 Your tax form will be filled by the taxman Income tax return (ITR) filing
  Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
  Companies (cost records and audit) Amendment Rules, 2018
 Income tax, TDS rules explained in 10 points EPF withdrawal
 CBIC extends due date for filing of FORM GSTR-7 for the months of Oct to Dec till Jan 31st 2019

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 2018 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