Healthcare services are defined in a restrictive manner to cover services by way of diagnosis, treatment and care and no exemption is available for services offered for aesthetic / beauty enhancement purposes.
The budget is a common man’s budget. Zero tax has been levied. But there are few issues. People from the footwear industry came to me this morning, saying they have to pay tax now on every product they sell.
The committee on taxation of e-commerce has said that levy should be chargeable on any sum that is received by a non-resident from a resident in India or a permanent establishment in India as a consideration for specified digital services.
According to the data released by the Society of Indian Automobile Manufacturers (Siam), domestic passenger car sales stood at 1,64,469 units in February as against 1,71,703 units in the same month last year.
The Centre has decided to lower the maximum penalty rates to reduce the high rate of tax litigation, but experts feel that discretion of assessing officer is one of the important areas that go unattended.
Poorva Prakash, Senior Director, Deloitte India, says that the upcoming Vote on Account could give multiple personal tax concessions in order to make it a popular. She explains what can be expected on February 1.