Are advocates exempted from income tax?

Is Advocate income tax free?

As per law, advocates are exempt from paying service tax for services rendered to individuals.

Which profession is exempt from tax?

Which professions are exempt from Income tax ? – any agriculture income(including rent or revenue received from agriculture purposes, sales of agriculture produce etc.) – any amount received by any member of HUF (Hindu undivided family) from HUF would be exempted in hands of member Section 10(2).

Do law firms pay taxes?

Many of the lawyers opt to practice law. Income derived from practice is taxable under the head of ‘income from profession. … 50 lakhs), and after deducting section 80 deductions, professionals need to pay tax on balance total income.

Do lawyers have to pay service tax?

Lawyers Are Exempted From Paying GST/Service Tax, Do Not Harass Them By Issuing Demand Notices: Orissa High Court. … “It appears that despite knowing fully well that advocates are not liable to pay service tax or GST, notices continue to be issued to them by the GST Commissionerate.

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Why advocates are exempted from GST?

Advocates has privilege of not to pay GST on their output supply, while the tax on their supplies has to be paid by recipient under Reverse Charge Mechanism (RCM).

Are lawyers exempt from GST?

As per GST law, all legal services whether by a law firm or individual, are all liable for payment under Reverse Charge. All law firms or lawyers providing legal services have no other output for GST liability of their own. As they would all get exemptions from registration under GST on legal services.

Who are all eligible for professional tax?

Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, lawyer, doctor etc. are required to pay this professional tax.

Can we exempt professional tax?

The following individuals are exempted to pay Professional Tax: Parents of children with permanent disability or mental disability. Members of the forces as defined in the Army Act, 1950, the Air Force Act, 1950 and the Navy Act, 1957 including members of auxiliary forces or reservists, serving in the state.

Is professional tax exempted from income tax?

Professional tax or tax on employment is a tax levied by a state, just like income tax which is levied by the central government. The maximum amount of professional tax that can be levied by a state is Rs 2,500. … In your income tax return, professional tax is allowed as a deduction from your salary income.

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What is LLB taxation?

B. Com LLB with Specialisation in Taxation Laws is a 5-year undergraduate program. It’s a course that combines law and commerce while focusing on taxation laws. If you have an interest in commerce, tax and law – BCom LLB syllabus will prove to be highly valuable and informative during the journey.

How do I get a tax advocate?

You can call your advocate, whose number is in your local directory, in Publication 1546, Taxpayer Advocate Service — Your Voice at the IRS, and on our website at You can also call us toll-free at 1-877-777-4778. 7.

Does an advocate pay professional tax discuss in detail?

Legal practitioners, including solicitors and notaries, have to pay profession tax. As per the amended slab, those who have been in the profession for 10 to 20 years have to pay Rs 1,500 per annum while those with more than 20 years of service have to pay Rs 2,500 per annum.

How much do tax lawyers make in India?

The highest salary for a Tax Advocate in India is ₹87,701 per month. The lowest salary for a Tax Advocate in India is ₹18,321 per month.

What is the GST rate for legal services?

In case GST is applicable, the GST rate applicable on legal services would be 18%.

Is GST applicable on legal services?

GST is chargeable on the legal services rendered by any advocate practicing on an individual basis or senior advocates or a firm of advocates to a business corporation with a yearly turnover up to Rs 20 lakhs.

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