Sunday, January 15, 2012

NO SERVICE TAX ON LATE PAYMENT FEES BY STOCK INVESTORS

Stock market investors would not have to pay any service tax on any late payment charges paid by them to their brokers provided such fines are shown separately in the account statement. The Ministry of Finance has clarified the matter to the capital market regulator SEBI (Securities and Exchange
Board of India), which in turn has informed the stock exchanges about the same.

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