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INTERNET BANKING

Adv. S Sharma (Lawyer) (574 Points)

05 August 2008

Hi All

Bank provides internet banking services to its user, is it taxable service???????????

thanks

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5 Replies

CA RAMESH KUMAR AHUJA (CA, DISA, LLB) (5452 Points)
Replied 05 August 2008

This being a FOC service question of taxability does not arise.

Irshad (Article) (1426 Points)
Replied 05 August 2008

Ya,I also agree with this point.

Adv. S Sharma (Lawyer) (574 Points)
Replied 07 August 2008

ok I agree

if banks start charging for it, would it not fall in the scope of “Online information and database access or retrieval”???????

(Guest)

it depend on the bank

A (Engineer) (132 Points)
Replied 14 November 2008

Can I pay the service tax of a Pvt Ltd company by using the internet banking account of the director of the company. Please note that the account of the company does not have internet banking facility. But one of the directors of the company have internet banking facility in his personal savings account.

So can the director use his personal savings accout for paying the service tax of the company. Please reply its urgent