Is the Service tax 15% or is it 15.1% . Can someone clarify

This is good for multiple ARN holder in family to save Tax.

Service tax is an indirect tax and shall be borne by the ultimate beneficiary. That said , this temporary relief is no where near top the actual solution to the problem. Be i t SEBI or Finance ministry , they shall jointly resolve this inconsistency. Ideally , SEBI shall segregate the AMC fee and the ADVISORY fee , and allow the service tax charged on advisory fee to be written the scheme( this is what AMCs are doing on all other services like RTA etc, why shall there be a different treatment for the advisers fees?) This is relief form small distributor not the solution. Solution is remove Service tax all IFAs.j

After having gone through the article, I am forced to ponder on the following points- 1- At last the small IFAs are spared from a mindless crazy decision of this Govt. Thanks for that. But what about the HIG Distributors who are literally blowing out almost half of their hard earned income? 2- Every Distributor must be having one spouse and one or two children. So the idea of mushrooming of ARN seems absurd as hardly there will be too many members to be spared for ARN. 3- Moreover, Passing the NISM exam is not a goat that you run and catch it easily. 4- What is the problem if it happens in some cases of 10 L to 30 L? In that way at least one from the family can inherit the AUM and continue to have a secured income after the demise of the Bread-winner. Something most of the IFAs have not planned yet. 5- I must thank you for giving this bright idea to many IFAs who probably never thought in that line.

It seem as the new version of divide & play. Because now majority of IFA brothers & sisters will stop raising their voices regarding the main basic question that -whether there should be service tax on Mutual Fund distributors commission or not ? because their personal interest has postponed till they achieve the level of 10 Lakh limit. So this will dilute the momentum of IFA community which is building to oppose the concept of deducting service tax on mutual fund distributor. This is another disincentive, that why you should earn below 10 Lakh.

Service tax is an indirect tax and shall be borne by the ultimate beneficiary. That said , this temporary relief is no where near top the actual solution to the problem. Be it SEBI or Finance ministry , they shall jointly resolve this inconsistency. Ideally , SEBI shall segregate the AMC fee and the ADVISORY fee , and allow the service tax charged on advisory fee to be written the scheme( this is what AMCs are doing on all other services like RTA etc, why shall there be a different treatment for the advisers fees?)

The point MISSING is are distributors liable for service tax???.. The core question it self seems to have been DISSOLVED. This move will definitely SEE rise in Multiple ARN with in FAMILY. The fight for SERVICE TAX to be LEVIED on the END user must go on...

I am expressing my sincere thanks & gratitute to all the members of FIFA & Others for their continuous endevour to relief small IFAs from ST. With thanks & regards,

Its welcome but I want to know 1) Is AMC going to show commission and service tax seperatly while making payment. If not how do i calculate my Income tax? i.e. on gross payment received or net of service Tax income? Will IT accpet it because IT and ST are two different dept. 2) How to caluculate ST i.e. 15% on amount received or add 15% to net income becuase in both cases amount will be differnt

Thank you Yasir sir & your team in FIFA. Many small IFAs will benefit from this. Thank you once again.

VERY GUD EFFORTS OF ALL OF YOU ABOUT SERVIEC TAX REFORS FOR US

This Budget is satisfactory with regard to status quo on LTCG.