TaxTMI 
TaxTMI 
I would like to know whether amount recd as sub brokerage liable to service tax under condition
A) sub brokerage Amt. is less than 10 Lakhs
B) Sub brokerage Amt. is more than 10 lakhs
service tax on sub brokerage
13 Dec 2012 
2 Replies 
5325 Views Asked by
Service tax exemption for sub-broker services to stock brokers removes tax liability on sub-brokerage payments in specified transactions.
Services provided by a sub-broker or an authorised person to a stock broker are exempt from service tax under the applicable exemption notification, so sub-brokerage payments received for those services are not liable to service tax. (AI Summary)
Services provided by a sub-broker or an authorised person to a stock broker are exempt from service tax under the applicable exemption notification, so sub-brokerage payments received for those services are not liable to service tax. (AI Summary)