https://www.taxtmi.com/circulars?id=44 Clarification that taxable service by stock brokers depends on provision of service to an investor: principal-to-principal trades between member brokers are not taxable; broker transactions on own account with a non-member investor are taxable; arbitrage between brokers of different exchanges is taxable as service to an investor. en-us Tue, 31 Dec 1996 00:00:00 +0530 Thu, 12 Jan 2012 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=44 Clarification that taxable service by stock brokers depends on provision of service to an investor: principal-to-principal trades between member brokers are not taxable; broker transactions on own account with a non-member investor are taxable; arbitrage between brokers of different exchanges is taxable as service to an investor. Circulars Service Tax Tue, 31 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/circulars?id=44