I am with Angel Broking as a client, and I have never faced any problem. My friend who is their sub-broker has never paid Service Tax on Sub-brokerage he had earnt until now (he was always reimbursed the amount, he had paid to the exchequer) , even for the amounts he had paid before the notification in the last Budget i.e. Sep09). I think you are here with a malign interest--I challenge you to bring a proof. I have spoken to the senior person at Angel Broking; they had denied it in categorically. I hope better sense will prevail on you, and you will stop using this forum for your vested interest.
BTW reading your post, it appears that as early as 1 June '10 you were searching for some broker to become Sub-broker, so going by that date and assuming you started Sub-broking early this month, even then, if any amount is earned by you, will come only after this month. Hence I am just wondering, how have you come to the conclusion that you have to pay service tax or broker will deduct this amount from your commission???? The way you have written your post clearly shows your intentions. I would request you to desist from using this forum with malice intentions, or come clean and show us some proof.
I have no bad intensions for anyone.
Yes this is right that im in talks with 4-5 brokerahe house for sub-brokership but till now i did not yet finalised as i not yet found any best deal to freeze it
In talks with Angel Representative for sub-brokership he told me that they will deduct 10.33% from each month payout as service tax.
So this issue concern me alot, b'coz as far as i know that service tax is abolished in last year, then why this Angel Marketing person who open sub-brokership a/c asking for such service tax which is not exist at allnow days.
I don't have any bad intensions for any brokerage house , but at the same time if any abrokerage house will do any illegal thing then i will not hesitate to file a formal complate and will surely go for legal battle.
Thru this fourm i just asking all those sub-broker , who are affected by this ? If any sub-berker paying service tax or there main broker is deducting service tax from there monthly payout then pls. come forward and raise ur voices, no matter which company's sub-brokership u holding, just come forward and rasie ur voice so we can take this matter forward with govt. authorities.
My concern is that why ANgel representative is asking for 10.33% as service tax, not matter it is deducted or not.
for ur kind information Mr. VijayDT, I have no issues with u, but when i see something worng happning ( like Agel asking for 10.33%) only then i will rase the alarm ok, will take sub-brokership and wait when they will deduct the 10.33% and then show u the proof.
I am not from those who get cheated 1st and they cry.
Infact i am from those who will not get trap easily, and make alarm so that others also come to know what happening around.
Still I am sure many sub-broker here who are paying this illegal tax, but not coming out openly just b'coz they cant afford to switch to other brokking compny right now and they just paying this illegal tax to there main brokers.
Pls. let me know is there any other sub-broker or new brokers who just joined or in talks with main brokers for sub-brokership came across with such service tax demands from main brokers ?? if yes then share with me as i aslo facing same thing from Angel Broking.
Thanks
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