TaxTMI 
TaxTMI 
Dear Sir,
May you explain me the Sec 60 ( 105) (zx ) and 60 (105) (ZZZF) with an example of service tax. Is service tax applicable on allocation charges before 17/2/2010.
Service tax on Premium Allocation Charges
31 Jan 2011 
1 Reply 
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Investment Management Services subject to service tax irrespective of 'allocation charges', under valuation rules for ULIP contracts.
Service tax applies to amounts charged for Investment Management Services under unit-linked insurance products; the gross amount charged is taxable irrespective of whether it is called allocation charges, and valuation for tax purposes is governed by the Service Tax (Determination of Value) Rules, 2006. (AI Summary)
Service tax applies to amounts charged for Investment Management Services under unit-linked insurance products; the gross amount charged is taxable irrespective of whether it is called allocation charges, and valuation for tax purposes is governed by the Service Tax (Determination of Value) Rules, 2006. (AI Summary)