Whether the person who is holding the remissiorship of the stock broker be treated as sub broker? For example, Mr.X is holding remissiorship of India Infoline. He is issuing contract note cum bill of India Infoline to his client, for which he is issuing bill of commission & brokerage to India Infoline. Whether this exemption notification is applicable to him? Whether he is treated as sub broker of India Infoline. whether any case law on this matter?
Definition - Sub broker - Case law
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