Incentive income received on mutual funds investments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2012
My company received an incentive income during July 2012 from our Investment Consultant for the period of Jan 2012 to March 2012. The Fund House has already deducted ST portion from him and we got the net payment. Should we have to pay Service Tax on such incentive income since we received in July 2012 only according to new guidelines as per the Negative Definition by the Service Tax Authority
02 August 2012
If service tax is already remitted by the fund house you need not pay it again now. Keep the certificate with you for future verification. From 1st july onwards, still they are deducting the Service tax portion?
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