Service Tax on MF Brokerage
This query is : Open
08 June 2010
I am a distributor of Mutual Funds. As per law, mutual fund houses, deduct service tax @ 10.3 % on brokerage payable to me, similar to TDS. Since my total brokerage income does not exceed Rs.10 Lakhs, I am exempt from payment of service tax. In my case can I claim a refund of service tax deducted by mutual funds. If yes what is the procedure to claim refund ?
11 June 2010
In case of service tax payment on reverse charge basis, the exemption of Rs. 10 Lac is not available.
You are not eligible to claim refund.
You are not eligible to claim refund.
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