Bar Council of India Supports Tax Change for Law Firms
1 report, 1 independent
Updated Sat 20:06
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What happened
The Bar Council of India supported a tax change introduced in the budget that classifies legal services as taxable for the first time. This change was supported by BCI chairman SNP Sinha, who argued it was a wise decision by the government of India. The tax change will not apply to individual practitioners or those advising individuals.
From legallyindia.com
Why it matters
The tax change shifts the legal service industry structure by imposing taxes on law firms, which BCI argued was necessary due to the entry of foreign firms. However, the Society of Indian Law Firms opposed the measure, stating it would weaken Indian law firms.
From legallyindia.com
Who's involved
- Bar Council of IndiaSupported the tax change that classifies legal services as taxable for law firms
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The entities involved
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Bar Council of India
statutory body that regulates the legal practice and legal education in India