Benefit of exemption limit - sub broker

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....enefit of exemption limit - sub broker<br> Query (Issue) Started By: - sunil v mehta Dated:- 18-7-2006 Last Reply Date:- 19-7-2006 Service Tax<br>Got 1 Reply<br>Service Tax<br>Dear Sir, Under a direct....

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.... billing system of BSE/NSE main broker raises bill (incld.ser.tax) on buyer/seller of securities.The sub-broker gets share of comm./incentive at the mth. end for business done through subbroker.Sub br....

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....oker does not have any brand name.Subbroker is also regd. with sebi.He buys/sells shares by keying on his 'terminal'under main broker's code.The buyer/seller of shares settles his a/c and draws chq.di....

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....rectly on main broker. Case 1)Whether sub-broker can enjoy threshold limit of 4 lacs? Case 2)If main broker has 'brand name like 'Anagram'/'Sharekhan' etc whether subbroker working under him (as state....

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....d above)is eligible to enjoy 4 lacs exemption? If subbroker does not enjoy exemption ,pl. explain with reasons.s.mehta Reply By Surender: The Reply: Merely using the code of main broker does not mean....

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.... using brand name of others. The main factor to decide the exemption is trade / brand name.<br> Discussion Forum - Knowledge Sharing ....