Fwd: TaxGuru.in : Legal & Tax Updates

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From: LEGAL & FINANCIAL UPDATES FROM TAX GURU <info@taxguru.in>
Date: Sun, Mar 27, 2011 at 9:50 AM
Subject: TaxGuru.in : Legal & Tax Updates
To: palashbiswaskl@gmail.com

TaxGuru.in : Legal & Tax Updates

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• Service tax on Market Research Agency's Services
• Service tax – On-Line Information and Database Access and/Or Retrieval Services
• Service tax on Stock Broking Services
• Service Tax on Photography Services
• Service Tax on Sound Recording Services
• Service Tax on Rent-A-Cab Services
• Service tax on Ship Management Services
• Service Tax on Share Transfer Agent Service
• Service Tax on Information Technology Software Services
• Service tax on Mining service
• Service tax on Registrar to an Issue Services
• Service tax on Supply of Tangible Goods Services
• Service tax on Video Tape Production Services
• Service tax on Underwriters Services
• Service tax on Lottery and other Games of Chance Services
• Service tax on Pandal or Shamiana Services
• Service tax on Legal Consultancy Services
• Service Tax on Stock Exchange Service
• Service tax on Transport of Coastal Goods and Transport of Goods through National Water Way/Inland Water Service
• Service tax on Survey and Map Making Services
• Reporting of Foreign liabilities and assets by Indian companies
• Finance Bill, 2011 — Transfer Pricing Amendments
• Withdrawal of circular dealing with income arising from business connection in India is prospective in nature

Service tax on Market Research Agency's Services Posted: 26 Mar 2011 06:14 AM PDT Market Research Agency's Services means any service provided or to be provided to any person, by a market research agency in relation to market research of any product, service or utility, in any manner. "Market research agency" means any person... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax – On-Line Information and Database Access and/Or Retrieval Services Posted: 26 Mar 2011 06:06 AM PDT "On-line information and database access or retrieval" means providing data or information, retrievable or otherwise, to any person, in electric form through a computer network. "Taxable service" means any service provided or to be provided to any... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Stock Broking Services Posted: 26 Mar 2011 05:57 AM PDT Stock Broking Services means any service provided or to be provided to any person, by a stock-broker in connection with the sale or purchase of securities listed on a recognized stock exchange. "Stock-broker" means a person, who has either made an... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Photography Services Posted: 26 Mar 2011 05:44 AM PDT Photography Services means any service provided or to be provided to an y person, by a photography studio or agency in relation to photography, in any manner. "Photography studio or agency" means any professional photographer or any person engaged... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Sound Recording Services Posted: 26 Mar 2011 05:24 AM PDT Sound Recording means recording of sound on any media or device including magnetic storage device, and includes services relating to recording of sound in any manner such as sound cataloguing, storing of sound and sound mixing or re-mixing or any... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Rent-A-Cab Services Posted: 26 Mar 2011 02:46 AM PDT Rent-A-Cab Services means any service provided or to be provided to any person by a rent-a-cab scheme operator in relation to the renting of a cab. Schools running transport services for their students are not liable to pay Service Tax under the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Ship Management Services Posted: 26 Mar 2011 02:17 AM PDT "Ship management service" includes, - (i) the supervision of the maintenance, survey and repair of ship; (ii) engagement or providing of crews; (iii)receiving the hire or freight charges on behalf of the owner; (iv) arrangements for loading and... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Share Transfer Agent Service Posted: 26 Mar 2011 02:09 AM PDT Share Transfer Agent Service means any service provided or to be provided to any person, by a share transfer agent, in relation to securities. "Share transfer agent" means any person who maintains the record of holders of securities and deals with... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Information Technology Software Services Posted: 26 Mar 2011 01:59 AM PDT Information Technology Software Services means any service provided or to be provided to any person, by any other person in relation to information technology software, including,- development of information technology software, ii) study, analysis,... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Mining service Posted: 26 Mar 2011 01:48 AM PDT Mining service means any service provided or to be provided to any person, by any other person in relation to mining of mineral, oil or gas. Mining Service- Applicability of Service Tax on activities undertaken in mining sector before 1-6-2007-... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Registrar to an Issue Services Posted: 26 Mar 2011 01:23 AM PDT "Registrar to an issue" means any person carrying on the activities in relation to an issue including collecting application forms from investors, keeping a record of applications and money received from investors or paid to the seller of... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Supply of Tangible Goods Services Posted: 26 Mar 2011 01:12 AM PDT Supply of Tangible Goods Services means any service provided or to be provided to any person, by any other person in relation to supply of tangible goods including machinery, equipment and appliances for use, without transferring right of possession... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Video Tape Production Services Posted: 26 Mar 2011 01:05 AM PDT Video Tape Production Services means any service provided or to be provided to any person, by a video production agency in relation to video-tape production, in any manner; (Section 65 (105) (zi) of Finance Act, 1994 as amended) . "Video production... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Underwriters Services Posted: 26 Mar 2011 12:57 AM PDT Underwriters Services means any service provided or to be provided to any person, by an underwriter in relation to underwriting, in any manner. "Underwriter" has the meaning assigned to it in clause (f) of rule 2 of the Securities and Exchange Board... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Lottery and other Games of Chance Services Posted: 26 Mar 2011 12:46 AM PDT Lottery and other Games of Chance Services means any service provided or to be provided to any person, by any other person, for promotion, marketing, organizing or in any other manner assisting in organizing games of chance, including lottery, Bingo... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Pandal or Shamiana Services Posted: 26 Mar 2011 12:39 AM PDT Pandal or Shamiana Services means a place specially prepared or arranged for organizing an official, social or business function. "Pandal or shamiana contractor" means a person engaged in providing any service, either directly or indirectly, in... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Legal Consultancy Services Posted: 26 Mar 2011 12:18 AM PDT Legal consultancy services means any service provided or to be provided to a business entity, by any other business entity, in relation to advice, consultancy or assistance in any branch of law, in any manner. Provided that any service provided by... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service Tax on Stock Exchange Service Posted: 26 Mar 2011 12:08 AM PDT Stock Exchange Service means any service provided or to be provided to any person, by a recognized stock exchange in relation to assisting, regulating or controlling the business of buying, selling or dealing in securities and includes services... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Transport of Coastal Goods and Transport of Goods through National Water Way/Inland Water Service Posted: 25 Mar 2011 11:41 PM PDT "Taxable Service" means any service provided or to be provided to any person, by any other person in relation to transport of - (i) coastal goods; (ii) goods through national waterway; or (iii) goods through inland water. [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Service tax on Survey and Map Making Services Posted: 25 Mar 2011 11:33 PM PDT "Survey and map-making" means geological, geophysical or any other prospecting, surface, sub-surface or aerial surveying or map-making of any kind, but does not include survey and exploration of mineral. "Taxable Service" means any service provided... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Reporting of Foreign liabilities and assets by Indian companies Posted: 25 Mar 2011 10:56 PM PDT Reserve Bank of India (RBI) has, on 15 March 2011, notified a revised procedure for reporting of all Foreign Direct Investment (FDI), both inward and outward. RBI has replaced Part B of Form FC-GPR (annual filing by Indian companies with regard to... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Finance Bill, 2011 — Transfer Pricing Amendments Posted: 25 Mar 2011 10:54 PM PDT The Finance Bill, 2011 ("Bill") has introduced certain changes in the existing transfer pricing ("TP") regime both in terms of substantive law and procedural aspects. Further, as part of a new anti-avoidance measure introduced in the Budget, the... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

Withdrawal of circular dealing with income arising from business connection in India is prospective in nature Posted: 25 Mar 2011 10:51 PM PDT Lucknow Income-tax Appellate Tribunal (the "Tribunal") in the case of Sanjiv Gupta v. DCIT [201 1-TII-06-ITAT-LKW-INTL] , held that Circular No. 7 of 2009 dated 22 October, 2009 withdrawing the Circular No. 23 of 1969 dated 23 July, 1969 would be... [[ This is a content summary only. Visit www.taxguru.in for full article ]]

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