Retailers, realtors and companies operating their businesses from rented space can nowbreathe easy. The Delhi High Court has ruled that commercial renting of premises will not attract service tax.

Service tax is a tax on value addition provided by some service providers and renting of immovable property for use in the course or furtherance of business did not involve any value addition and could not be regarded as a service, the court observed. An alternate plea was also taken up by the petitioners that the levy of service tax on renting of immovable property would amount to tax on land and therefore, fall outside the legislative competence of Parliament as it is a state subject. The court, however, did not examine the alternative plea.

It would also mean a major revenue loss to the government. It collects over Rs 8,000 crore annually from renting service. In 2009-10, it expects to collect Rs 68,900 crore through service tax levied at the rate of 10%. Alternatively, the decision has proved to be of major relief to the retailers, small office owners and companies who rent space instead of buying the space. Due to this decision of the high court the cost of the rented property will be reduced by 10%, which would be of bliss in times of economic downturn. The real estate owners are looking this as an opportunity to increase business as more small office owners and companies would prefer to rent property over buying.

This move is likely to benefit most businesses. For people who wish to rent space of real estate owners looking for tenents can advertise in “Classifieds” section of ZaaBiz for FREE.

Rahul Gandhi - The name that symbolizes young shoulders of Indian Congress party is the most popular leader of the youth brigade. Off late Indian Politics has seen a flurry of young Indians participating in politics and taking charge of campaigns. Rahul has been a front runner for these campaigns of Congress Party. Although he is not contending for the elections, however there is a deep dedication to the job and is undoubtedly proving to be masses favorite.

Rahul Gandhi

For the Chennai Super Kings it’s a time to celebrate after an early loss in the first match. Matthew Hayden and Muttiah Muralitharan steered the Chennai Super Kings to an emphatic 92-run win over the Bangalore Royal Challengers in the Indian Premier League on Monday. The 37-year-old Hayden hammered 65 in 35 balls as the Super Kings amassed 179 for five in their 20 overs before the Challengers were skittled out for 87.

The former Australia opener retired from international cricket at the start of the year but again showed the skills that allowed him to dominate bowling attacks around the world for more than a decade, cracking nine fours and two sixes. England all-rounder Andrew Flintoff also chipped in with an unbeaten 22 from 13 deliveries.
Sri Lanka spinner Muralitharan then took three for 11 in four overs to ruin Bangalore’s victory hopes and scoop the man of the match award.

Jacques Kallis of Royal Challengers Bangalore top-scored with 24 in 19 balls while Robin Uthappa and Rahul Dravid hit 20 apiece. Both teams now have two points from two games.

So which are you supporting this IPL season? Voice your opinion about your team, players, wins, losses, excitement and disappointment on ZaaBiz in our group “Indian Premier League”

Aiming to bolster India’s defence surveillance capabilities, ISRO successfully launched its first all-weather spy satellite that will help security agencies keep a watch on the movements on the borders, from its spaceport here.

The PSLV-C12, carrying 300-kg Radar Imaging Satellite (RISAT-2) and 40-kg micro educational satellite ANUSAT lifted off from ISRO’s Satish Dhawan space Centre here at 6:45am and placed into 550 km orbit around earth. This is the 15th flight of ISRO’s workhorse PSLV, which had launched 30 satellites (14 for India and 16 for foreign countries) into a variety of orbits since 1993.

RISAT has all-weather capability to take images of the Earth and would also be beneficial in mapping and managing natural disasters, such as floods and landslides, besides amplifying defence surveillance capabilities of the nation. It would also help keep track of ships at seat that could pose a threat.

ANUSAT is the first satellite developed by an Indian university (Anna University), which would demonstrate the technologies related to message storing and forward operations. University Students and faculty from different streams had worked on this satellite for the last six years. ANUSAT is a store-and-forward communication satellite that will help transfer confidential academic materials, including exam question papers, to prevent question paper leakages. It will also help monitor drought and wasteland, urban planning and other studies.

We at ZaaBiz congratulate the team at ISRO and Anna University for their successful accomplishment.

Traditionally Indian elections have been dominated by our poor voters and majority of them are farmers. The word domination does not mean they vote in majority but it reflects that the middle class and the urban population either do not have time to vote or they simply do not feel the need to do so.

But there has been a sudden but remarkable change in the voting patterns this time around. The voters from the middle class and urban society in Hyderabad took some time off to cast their vote. There has been a 30% rise in posh voting areas in Hyderabad. Similar trends were seen in other 5 cities like, Mumbai, Delhi, Kolkata, Chennai and Bangalore.

Film industry personalities, industrialists,senior corporate executives, professionals and students drove into polling booths in their cars, scooters and bikes and even youngsters kept their i-pods aside to exercise their democratic right.

These voters seemed to have been affected largely by the various awareness campaign on how and why to exercise the right to vote. It clarifies the fact that the new India needs more of educated leaders who could drive the nation further. Hope that this pattern flows around the other phases of elections as well.

Read more such interesting articles on Indian elections and Post your views and opinions in the forum.

Its IPL time again for India. Last year the unexpected Rajasthan Royals held the cup, who do you think is it going to be this year? Whats your favorite team? This is the first India owned cup being globally accepted with participation from all cricketing nations. This is a good platform not just for cricket but global recognition too.

On field heroes

In terms of the industry it is a heavy money earner for South Africa too, but what might affect India is the film industry which has taken this game period between 18th April and 24th may as a no release zone, meaning there will be no new releases during this period. Now that’s some recognition.

I have picked my favorite team, Kolkata Knight Riders have you decided who will be your best bet.

Jayanta

India claimed the Azian Shah cup after a gap of 13 years defeating Malaysia. It was a great moment for the team that has been struggling over some time. The victory came at time when the game needed support and morale boosting. This victory symbolizes the victory of India’s national sport hockey. Although Indians are crazy about cricket but the national game still remains hockey. It is a great moment for the team and the country.

ZaaBiz congratulates the team on its victory, and wishes it luck for the next tournament.

The lottery system seems to be the order of the day. As you are aware that we are celebrating our first birthday with a contest. The contest is based on the luck draw system or the lottery system. In order to participate in the contest you need to invite three friends to join ZaaBiz, join a group and write an article in the group and post a classified. This is all that you need to do to qualify in the contest.

Nano seems to follow similar footsteps that of ours. Due to the limited production and stupendous response, Tata is also going the lottery system way. The bookings for the car does not necessasarily mean you will get the delivery it all depends on luck.

The couple differences that we share is that registering with ZaaBiz is free and Nano is not. You need to pay a huge sum for registering Nano. Nano does not offer a cash incentive while in our case you have a chance to win Rs4999. So hurry up and participate in the contest as this is a fantastic opportunity for you to win.

First of all, let me thank to all our new members who have participated in the contest and are now on the verge of being part of the luck draw pool. For people who haven’t participated here is how it goes. First of all ask three of your friends to connect with you on ZaaBiz. Use the invite function if you not invited any friends or use reminder function if you they have not yet completed the registration in spite of your invitation. Once you have got three friends on ZaaBiz the next step is to join any ONE group out of 250 groups that we have. Choose the group which relates to your profession, region or interest. Post a forum entry in your group. The last step is to post an entry in our classified section. You can post classifieds in any of the categories like jobs, real estate etc. You can have multiple entries in different sections if you like. Please note that the entry in classified section is free.

So hurry up, it is the last week  to take part in the competition and win Rs 4999 for which you need to invite three friends to join ZaaBiz, post an entry in one group of your choice and post a classified.

Like other nations, India too, is under the clouds of recession. However despite dismal economic conditions, India is expected to see a salary hike this year. Although it is only a maximum of 7%, still India’s condition as compared to other nations is better off. There are corporations that can think of hiking salaries when people are being laid off elsewhere. India has had a bad year still managed to keep its flag high. Earlier years there have always been double digit growth which has been halved this year, but the good news is that at least India has managed to achieve this growth.