frienge benefit tax on a stock broking firm

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kashish (Querist)
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19 June 2007 one of my clients is a stock broking partnerhip firm.it has franchisee of kotak securities and it is a member of mcx. whether it is liable to pay f.b.t. on telephone exps. and other exps.

Shashi Mohan Jha

Shashi Mohan Jha (Expert)
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19 June 2007 I don`t think there is any exemption based on the constitution of business from "Service Tax"
However in case of telephone expenses exemption can be think off on the exclusive telephones used for marketing/calling customers.

Thanks