health services

Easy-to-miss Tax Benefits of Health Insurance Policies in India

Income Tax - If you are the breadwinner of your family and willing to buy health insurance plans for your children, spouse, and parents, you can avail tax benefits under section 80D of income tax act, 1961. You can avail these benefits as an individual as well as when you buy it for your parents no matter whether they are dependent on you or not....

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Service tax on Health Services

Income Tax - Health Services means any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an employee of any business entity, in relation to health check-up or preventive care, where the payment for such check-up or preventive care is made by such business entity directly to such hospital, nursing hom...

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Health Services no more taxable

Income Tax - In just recent past i.e. 01.07.2010 Service tax on Health Services (Section 65(105)(zzzo) of Finance Act, 1994) was introduced and without any doubt it was caught by all uncertainty and mystery. Taxable health services meant – any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an empl...

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Synopsis of amendments to Service Tax effective from 01.05.2011

Income Tax - 1) The amendments to the provisions of Finance Act, 2011 pertaining to Service Tax shall come into force from 1st day of May 2011. Notification No. 29/2011 – Service Tax the 25th April, 2011. 2) Service tax on Medical Services : EXEMPT FULLY from service tax w.e.f. 1st day of May, 2011.Section 105(65)(zzzzo) was inserted by Fina...

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Service tax on Health Services Provided Under Health Insurance Schemes Offered by Insurance Companies

Income Tax - Large number of health insurance schemes are being offered by the insurance companies under which charges for hospitalization, surgery, post-surgical nursing etc. are generally paid by the insurance company. Such insurance policies, which fall under the category of general insurance service, are already taxable. Under general insurance se...

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Centre plans to bring in five to eight new services under service tax net from next year

Income Tax - But health services offered by the private doctors, lab testing and diagnostic services are out of the ambit of service tax. The Centre is likely to target these services to complete the chain in the health sector. Similar services attract tax in sev...

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CBEC notifies 8 new taxable Services w.e.f. 1.7.2010

Income Tax - CBEC has notified 8 new taxable Services w.e.f. 1.7.2010 vide Notification No.24/2010-Service Tax dated 22.6.2010. The following are the new taxable Services introduced w.e.f. from 1.7.2010. 1. Games of chance (zzzzn),2 Health services (zzzzo), ,3 Maintenance of medical records (zzzzp)...

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Service Tax applicable on 8 new services to come into effect from July 1 2010

Income Tax - The Finance Ministry has specified July 1 as the date from which service tax levy would be applicable on the eight new services brought under the tax net in Budget 2010-11. The eight new services include services of promoting, marketing or organising of games of chance, including lottery, health services undertaken by hospitals for employ...

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Post budget 2010 medical treatment and medical insurance premium will cost more

Income Tax - According to the Bill, tax will be levied on “a person covered by health insurance scheme, for any health check-up or treatment, where the payment for such health check-up or treatment is made by the insurance company directly to such hospital, nursing home or multi-specialty clinic”. This will be only applicable to cashless insurance...

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Consumer court awarded compensation of Rs 15 lakh to widow for medical negligence of doctors

Income Tax - The State Consumer Disputes Redressal Commission has awarded a Thane widow a hefty compensation of Rs 15 lakh—one of the highest given in the state in the recent past—after penalising three doctors for medical negligence that led to her husband’s death....

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Service tax – Summary of Recent Amendments

LETTER D.O.F. NO. 334/3/2011-TRU - (25/04/2011) - Clarifications on new services specified in clauses (zzzzv) and (zzzzw) of section 65(105) of the Finance Act, 1994 and amendments to existing clauses of same section and following services Services provided by a Restaurant, Short Term Accommodation. Commercial Coaching and Training, Legal Services,...

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Recent Posts in "health services"

Easy-to-miss Tax Benefits of Health Insurance Policies in India

If you are the breadwinner of your family and willing to buy health insurance plans for your children, spouse, and parents, you can avail tax benefits under section 80D of income tax act, 1961. You can avail these benefits as an individual as well as when you buy it for your parents no matter whether they are dependent on you or not....

Read More
Posted Under: Service Tax |

Service tax on Health Services

Health Services means any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an employee of any business entity, in relation to health check-up or preventive care, where the payment for such check-up or preventive care is made by such business entity directly to such hospital, nursing hom...

Read More

Health Services no more taxable

In just recent past i.e. 01.07.2010 Service tax on Health Services (Section 65(105)(zzzo) of Finance Act, 1994) was introduced and without any doubt it was caught by all uncertainty and mystery. Taxable health services meant – any service provided or to be provided by any hospital, nursing home or multi-specialty clinic,- (i) to an empl...

Read More
Posted Under: Service Tax |

Service tax – Summary of Recent Amendments

LETTER D.O.F. NO. 334/3/2011-TRU (25/04/2011)

Clarifications on new services specified in clauses (zzzzv) and (zzzzw) of section 65(105) of the Finance Act, 1994 and amendments to existing clauses of same section and following services Services provided by a Restaurant, Short Term Accommodation. Commercial Coaching and Training, Legal Services, Health Services....

Read More

Synopsis of amendments to Service Tax effective from 01.05.2011

1) The amendments to the provisions of Finance Act, 2011 pertaining to Service Tax shall come into force from 1st day of May 2011. Notification No. 29/2011 – Service Tax the 25th April, 2011. 2) Service tax on Medical Services : EXEMPT FULLY from service tax w.e.f. 1st day of May, 2011.Section 105(65)(zzzzo) was inserted by Fina...

Read More

Centre plans to bring in five to eight new services under service tax net from next year

But health services offered by the private doctors, lab testing and diagnostic services are out of the ambit of service tax. The Centre is likely to target these services to complete the chain in the health sector. Similar services attract tax in sev...

Read More
Posted Under: Service Tax |

CBEC notifies 8 new taxable Services w.e.f. 1.7.2010

CBEC has notified 8 new taxable Services w.e.f. 1.7.2010 vide Notification No.24/2010-Service Tax dated 22.6.2010. The following are the new taxable Services introduced w.e.f. from 1.7.2010. 1. Games of chance (zzzzn),2 Health services (zzzzo), ,3 Maintenance of medical records (zzzzp)...

Read More
Posted Under: Service Tax |

Service Tax applicable on 8 new services to come into effect from July 1 2010

The Finance Ministry has specified July 1 as the date from which service tax levy would be applicable on the eight new services brought under the tax net in Budget 2010-11. The eight new services include services of promoting, marketing or organising of games of chance, including lottery, health services undertaken by hospitals for employ...

Read More
Posted Under: Service Tax |

Service tax on Health Services Provided Under Health Insurance Schemes Offered by Insurance Companies

Large number of health insurance schemes are being offered by the insurance companies under which charges for hospitalization, surgery, post-surgical nursing etc. are generally paid by the insurance company. Such insurance policies, which fall under the category of general insurance service, are already taxable. Under general insurance se...

Read More
Posted Under: Service Tax |

Service tax on Health services by hospitals or medical establishments for employees of business organizations

It is proposed to insert clause (zzzzo) in Section 65(105) of the Act so as to define taxable service as “service provided or to be provided by any hospital, nursing home or multi-specialty clinic to an employee of any business entity, in relation to health check-up or preventive care, where the payment for such check-up or preventive c...

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Posted Under: Service Tax |
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