service tax on handling & transaction charges
This query is : Resolved
22 December 2007
wether service tax shall levied on handling & transaction charges charged by a stock brokers from its clients?
13 February 2008
Yes service tax shall be applicable as per the following definition
Stock Broker’ means a stock-broker who has either made an application for registration or is registered as a stockbroker in accordance with the rules and regulations made under the Securities and Exchange Board of Indian Act, 1992 (15 of 1992).”
(Section 65(69) of Finance Act, 1994 as amended) The service provided by the stock broker becomes liable to pay Service Tax subject to the conditions that the
(a) Stock Broker should be registered as per SEBI Act, 1972.
(b) Stock should be listed in the Stock Exchange.
(b)The Stock Exchange must be recognized Stock Exchange as per Securities Contract (Regulation) Act, 1956.
(c) The Sale/Purchase should be on behalf of an investor.
Taxable event and scope of service:
Taxable service means any service provided to an investor by a stockbroker in connection with sale or purchase of securities listed on a recognized Stock Exchange.
(Section 65(72)(a) of Finance Act, 1994 as amended)
Stock Broker’ means a stock-broker who has either made an application for registration or is registered as a stockbroker in accordance with the rules and regulations made under the Securities and Exchange Board of Indian Act, 1992 (15 of 1992).”
(Section 65(69) of Finance Act, 1994 as amended) The service provided by the stock broker becomes liable to pay Service Tax subject to the conditions that the
(a) Stock Broker should be registered as per SEBI Act, 1972.
(b) Stock should be listed in the Stock Exchange.
(b)The Stock Exchange must be recognized Stock Exchange as per Securities Contract (Regulation) Act, 1956.
(c) The Sale/Purchase should be on behalf of an investor.
Taxable event and scope of service:
Taxable service means any service provided to an investor by a stockbroker in connection with sale or purchase of securities listed on a recognized Stock Exchange.
(Section 65(72)(a) of Finance Act, 1994 as amended)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- FTS Taxable under 115A
- Experts need help
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
