The Hindu Business Line : Govt begins talks with law firms on opening up legal services

‘Simplify tax assessment’: (From left) Dr Arvind Virmani, Chief Economic Adviser; Mr M.H. Dalmia, Chairman, Assocham Expert Committee on Direct Tax; Mr H.R. Bhardwaj, Minister for Law and Justice; Mr D.S. Rawat, Secretary General, Assocham; and Mr O.P. Vaish, Chairman, Assocham Expert Committee on International Tax, at the 4th International Tax Conference in the Capital on Tuesday.

Our Bureau

New Delhi, Sept 25 The Government has begun consultations with the domestic law firms over the issue of opening up the legal services sector to foreign law firms.

“I had recently convened a meeting with domestic law firms on this issue. We have asked them what safeguards could be put in place before the doors can be opened,” Mr H.R. Bhardwaj, Union Law Minister, told reporters on the sidelines of Assocham’s 4th International Tax Conference here today.

The Law Minister said that another meeting would be held within a month on this issue.

He also said that the Government has requested the London Court of Arbitration to set up office in India and allow lawyers here to be a part of it.

Meanwhile, in his address at the international tax conference, Mr Bhardwaj urged Indian companies that are expanding their footprints overseas to honour their commitments.

“I do get some complaints that some of the companies are not doing this,” he said.

Mr Bhardwaj called for a simpler assessment mechanism for income tax, stating that the current multiple layered assessment system was complex.

The Law Minister also highlighted that service tax on renting of commercial properties irked many owners of such properties and indicated that he would take up this issue with the Finance Minister.