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Interest on deposits

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(Querist)
02 March 2012 Please guide if service tax would be applicable:

A partnership firm accepts deposits from clients and invests the amount in Shares/STock in the name of Partnership Firm.

The firm repays the deposits at the end of year along with 12% interest on the deposits.

Is service tax applicable
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rajula gurva reddy

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rajula gurva reddy (Expert)
13 March 2012 No Service TAx is payable on the deposits collected and repaid along with interest.
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ATUL U ANAVEKAR

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ATUL U ANAVEKAR (Querist)
14 March 2012 Thank you very much
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