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Home / Industry News

Insurance agents exempt from service tax

29/October/2001

The Central Board of Excise and Customs (CBEC) has decided to exempt insurance agents and mutual funds from service tax but it has clarified that insurance companies will have to pay the same.

Also National Securities Depositories and Central Securities Depositories have been exempted from service tax. But fees charged by merchant bankers, asset management and portfolio managers governed under Sebi rules will not be exempted.

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