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Interest on deposits

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ATUL U ANAVEKAR

ATUL U ANAVEKAR (Querist)
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02 March 2012 Please guide if service tax would be applicable:

A partnership firm accepts deposits from clients and invests the amount in Shares/STock in the name of Partnership Firm.

The firm repays the deposits at the end of year along with 12% interest on the deposits.

Is service tax applicable

rajula gurva reddy

rajula gurva reddy (Expert)
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13 March 2012 No Service TAx is payable on the deposits collected and repaid along with interest.

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ATUL U ANAVEKAR

ATUL U ANAVEKAR (Querist)
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14 March 2012 Thank you very much

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