dictionary meaning

What constitutes ‘Service’ is certainly a subject matter of discussion. Its plain meaning is an Act of helpful Activity or Rendering of Assistance or Help. Service is generally a feeling in the form of efforts and excludes sale of goods or property or commodities. It pre-supposes existence of a Service Provider. For Service Tax purposes, if there is no Service, then there should be no Tax. Full Article

The etymology of business refers to the state of being busy, in the context of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals, usually to generate profit. Full Article

CASE LAW DETAILS Decided by: ITAT, HYDERABAD `B’ BENCH HYDERABAD In The case of: ITO v Rohini Reddy Appeal No. : ITA No. 595/Hyderabad/ 2006 Decided on: April 4, 2008 SUMMARY OF CASE LAW The benefit of exemption under section 54 is to be extended only when the property sold as well as the property [...] Full Article