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There is service tax on earning and service tax on spending same money. so 29? service tax is levied on IFA. this is unjustified. Non of the govt. Employees are paying service tax and swachh bharat cess from there salary. so remove service tax from IFA''s income.

Service Tax is Indirect Tax therefore imposing tax to IFA is illegal. It should be collect from investor by AMC. Further there is no service tax for earning of less than Rs 10 Lacs per annum while AMC are collecting Service Tax from all the IFA which is not justified in eye of law.

The law of the land is blatantly violated by the AMCs in tandem with AMFI. High time they are penalized. But will anyone in government bother with our petition? They are all busy pleasing the industry honchos which include the AMCs. No one in government has any concern for the common man.

support service tax ,though it is wrongly applied to distributors. GOVT has target of reducing fiscal deficit , govt want tax any way , earlier govt tried retro tax , this govt did not remove it, this govt increased mat, changed debt taxation, they are hungry of tax collection,they will not listen to your demand of service tax, Take it positively it isnt service tax but it is as good as survival tax for distributors, when DIRECT is making higher contribution to MF AUM , distributors can be shielded by service tax, as long as GOVT gets 800-1000 cr of service tax from mf distribution , govt will make sure that distributors will get commission and they will not be exposed to fancy ideas of fee based advisory

i request to ministry of finance please rethink SIRVICE TAX on mutual fund advisors, mutual fund in india still CHALAGING FINANCIAL SECTOR. So request to ministry of finance th S E B I.Roleback service tax on MUTUAL FUND ADVISERS.

we Will Agree With u

Made in INDIA, FOR INDIANS,BY INDIANS,FOR INDIANS.......PLS No service tax.

Service tax once withdrawn can not be justified again.

why the service tax has to be imposed on IFAs.If it is to be imposed then investor may be imposed who is the beneficiary of the product.

It is injustice that MF distributor pays 14% service tax and then 10 or 20 or 30% income tax . This way MF distributor will be highest tax payer in the country paying about 45% earning in service n income tax only. Service tax is an Indirect tax why is the govt making it a direct tax for MF distributors

At least spare us of harassing at one place totally unjustified unbearable unfair illegal.

THIS IS VERY UNFAIR DECISION AGAINST IFA AND MUTUAL FUND INDUSTRY.

I am Totally against impose of service tax on MF commission why Government over regulate on MF industry? why not in real Estate huge un accountable commission

IT IS TOTALLY INJUSTICE TO IFA''s,SELLING MF. I AM UNABLE TO UNDERSTAND WHY SEBI IS SO VERY MUCH CONCERNED FOR THE INCOME OF MUTUAL FUND ADVISERS, AS EVERYBODY KNOWS WHAT MF ADVISORS ARE GETTING. WHY NOBODY SAYS ABOUT THE COMMISSIONS EARNED BY LIFE INSURANCE AGENTS ?

This is totally unjustified and should NOT be imposed at all.

This is a ridiculous, draconian law.

I strongly condemn the imposition of Service Tax on following Points- 1. It is very much against the Spirit of Constitution. 2. It is expected that any rule should not be applied selectively but UNIFORMLY. 3. WE as IFA''s do not charge any service fee, so how can we collect S.T. from our Investors? 4. This S.T. should have been added to STT or should have been applied like entry load. 4. We get the brokerage from the Expense Ratio of the scheme. S.T. to be paid by the Service seeker or Consumer and not the service provider. 5. Service Provider should only collect the S.T. from the Service seekers/ Consumers & deposit it in the Govt. Treasury. 6. Why Insurance Industry is exempt form S.T.? No valid reason is available. 7. Why SEBI is non committal/Mum/ Indifferent on this issue. They are our Regulators which means they are our Parents. How step Motherly treatment from Finance Ministry is acceptable to SEBI & AMFI? 8. Can SEBI /AMFI make me logically make me understand the need for IFA''s to be brought under the Service Tax net???

For self employed people it is a huge setback. It is very bad from a Government who told Acha Din Ayange. 14% service tax + income tax, it is killing for self employed person.

It Is injustice and harmful and painful for mutual fund industry.

i am completly against impose of service tax

total injustice ,, in fact the service tax was to be imposed on the end user ,, ie- the investor ,, like in LIC the premium is inclusive of service tax.. and agents are not burdened. Applicable NAV to be inclusive of service tax.. just like direct and non direct nav.. There should be similar rules for investors and agents. SEBI IS HARRASSING DISTRIBUTORS IN THE NAME OF INVESTOR PROTECTION <<<<< THEN WHO WILL PROTECT DISTRIBUTORS

Not justified decision due to lower income new advisor will not be motivated.

service tax imposed is totally unfair unjustifiable illegal withdraw decision to impose.

SERVICETAX imposed on IFA commission is not justify and take an onesided decision. Only IFA are helps to customer to choose a better fund or how to gather many things in a basket. IFA are not given any direct services to the customers, so that it was not justify to imposed service tax on IFA PAYOUT. Again postal agents get commission at the time of deposited the customers amount in particular postal scheme without deducting any charges. whether they are liable for sevicetax ? Then why mutual funds IFA are pay servicetax ?

IFA IS ARRANGING TO INVEST THE INVESTMENT AMOUNT WITH THE CONCERN AMC. ON REDEMPTION AMC DIRECTLY CREDIT THE REDEMPTION AMOUNT TO INVESTORS BANK ACCOUNT AND NOT IFA"S BANK ACCOUNT AS IT IS EVIDENT. THEN HOW SERVICE TAX TO DEDUCT FROM IFA. IT IS NOT FAIR AND NOT JUSTIFIED. THIS PROPOSAL SHOULD BE WITHDRAWN.

A better advise by ifa to investor need not be discouraged y sebi, putting tax for doing good to investor need not be penalised. very painful decision, for economy to go grow stock market and investment in equity must come,otherwise achhe din kaha se ayenga

DAY TO DAY IFAS NOS ARE COMING DOWN DUE TO LOWER INCOME AND IT IS A HARSH DECISION.REMOVE THE SERVICE TAX AS IT IS A GROWING INDUSTRY AND SERVICE TAX IS ON END USERS BUT THEY ARE CHARGING ON US.IT IS INJUSTICE.REMOVE IT.

Inplement of Service Tax is injustice for all IFA.

It is highly unjust towards IFAS

Don''t impose Service Tax on MF Distributors

Service tax is over burden for us...

yes. All IFAs should sign .

We as an IFA come in same catagory as sub brokers in stock market.We are intermediaries between AMC & investor where as sub brokers are between stock brokers & investors.Finance minister has imposed service tax on IFA''s of mutual fund & not on sub broker''s though we both fall in same catagory. Further,service tax is to be paid by end users ¬ by intermediaries. If it becomes a law then it would be total injustice to our IFA fraternity because if we take into account service tax of 14% plus 2% cess,around 24% expenses towards procuring business & 30% income tax which comes to 70% of total expenses, in simple words it means we will have to expend Rs.70/- for every Rs.100/- earned. ACCHE DIN AANE WALE HAI,Mr Finance Minister, When ACCHE DIN will come ?

For any service given, service tax is supposed to be paid by the end user i.e. client. Charging service tax to an intermediary whether directly or indirectly is unfair on the distributors. Service tax further eats in to the already low income of IFAs making their survival difficult. The fact that most of the IFAs may not even have the minimum threshold income required for payment of service tax i.e. Rs.10 Lakh makes it grossly unfair on small distributors.Charging service tax to the scheme may be a fair option.

It seems authorities are always busy with a one task only i.e how to screw/sequese broking community & force them to shut down their operations.None of our associations ever succeded to get relief in any of matters ever.This time is not going to be different.I am totally harassed with authorities attitude frequently.

yES THE RECENT SERVICE TAX IS AN UNJUST TAX AS IT HELPS AMC TO SET OFF AND WE HAVE AN ACTUAL LOSS ON AN MINISCULE MARGIN. THIS WILL KILL THE INDUSTRY AND HURT THE AAM AADMI. WE BELIEVE SEBI WILL SEE THE LOGIC AND AMEND ACCORDINGLY. THERE IS NO QUALITY ADVICE WITHOUT COST. THAT INDIAN LOGIC OF ''''FREE'''' HAS TO BE DEALT WITH LOGICALLY.

Think about the Claw Back if service tax is imposed,

Respected Finance Minister, Please Remove Service Tax if distributor earning is less than 9 lacs. , it''''s not fair for small & newly distributers.

its very unjustified decision by sebi. i have started business in 2011 and i am in hill area of uttarakhand and very costly to mobilize business.

The law is an another blow to the IFA community.

WE CANNOT ACCEPT THE SERVICE TAX ON MUTUAL FUND DISTRIBUTOR COMMISSION.

remove service tax, it''s not fair for small & newly distributers.

Friends We need to sign the petition in maximum number so our voice can reach to the higher authorities and they think something positive for our community.

Respected Finance Minister, Please Remove Service Tax if distributor earning is less than 9 lacs.

The service tax levied is certailnly hurting the distributors very much. I feel that ALL Of Us Must Take this UP with our respective MP''s. I certainly agree with Kirit from Mumbai that this tax must be levied only if the Distributor is earning more than 10 lakhs.

GOI SHOULD NOT LEVY S.TAX IF IT IS BELOW THRESH HOLD LIMIT i.e rs 9 lacs

Very harsh & unjust

It see for last 4-5 year SEBI is all out to crush down the MF Distributors by imposing dozens of restrictions on commission. Now the finance ministry has hit them hard with imposing 14% Service Tax on the commission paid to distributors. All these years the more & more ARNs has stopped selling MF. On other hand the Ministry has permitted IRDA to raise the Insurance Agent''s commission. Foreign Investment limit in Insurance has been raised to 50%. But the Ministry must tell people why so many Mutual Funds including the World''s Largest Mutual Fund Fidelity Mutual Fund left India. The Ministry should look into how SEBI rules & regulations are irritating and dissuading investors from investing in Mutual Funds. A series of KYCs, mandatory attachment of KYC copy (means Investor must have internet & printer or pay in internet cafe to invest in MF.) Why any investor need to disclose his income & net-worth to any AMC or ARN to invest in MF? If Ministry needs to know the PAN is there. In spite of a number of assurances, the KYC is still a mystery in the web of KYCs ignoring each other. A these restrictions sends the investors to dozens of companies like Sahara & Shardha.

service tax should be remove I have sign online petiton

very very tuff to procure mutual fund business in " B "-15 location, Let IFA''S survive, completely remove the service tax on distributors.

remove service tax

Instead of encouraging small self employed finance profession Government is discouraging .One side this Bjp government is talking about employment creation and other side they are creating unemployment by way of loosing business income in finance profession.Immediately service tax should be removed for mf advisors.

Service Tax to be removed for Mutual Fund Distributor/IFAs

Service Tax Remove / Waive form Mutual Fund Distributor / IFA commission .

Service Tax is generally imposed on terminal users but unfortunately in MF Industry it is on IFAs !

Not justice. It should be remove.

Injustice to IFAs. Service tax to be waived completely on MF industry. MF industry is yet to penetrate to atleast Taluka levels of India.

PLEASE MAKE ARRANGE TO WAIVE SERVICE TAX FOR OUR ADVISORS FORUM. WE ARE ALL ADVISORS. HOW IT IS POSSIBLE FOR SE VICE TAX. IT IS NOT GOOD FOR G OVERNMENT.

Complete injustice with IFAs

LET IFA''S SURVIVE. REMOVE SERVICE TAX ON DISTRIBUTORS.

Remove service tax

Let them charge service charge if annual income is above 10lacs

Actually if service tax is levied , it should be born by the AMC and not by Adviser/distributor

Very sad & Bad

Ns

Govt. is charging service tax on commission then it is fully injustice with distributors. In this way Government will get two way tax, one is service tax and another is income tax. service tax should be paid by the Investor because they are the end users.

I DONT KNOW Y MUTUAL FUND DISTRIBUTOR ARE HAVE TO PAY THE PRICE WHERE AS INSURANCE ADVISOR ARE HAVING HIGHER COMMISION STRUCTURE AS COMPARED TO US THEN ALSO IN THIER CASE SERVICE TAX IS NOT LEVIED ON THEM THEN ON US

This imposition of service tax on IFA''''s is total injustice.

Service tax rule is a very unfare decission from sebi. It should bear by the customer the end user not by the IFA the middle man the service provider.This rule is just like the British Rule.

Very sad decision for ifas.

service tax should be on consumer of product. It is sad Distributor are targeted

i m really surprised to hear tht service tax will be charged from IFAs commission bill. from 1st of April 2015. can any body tell if i take lunch in some gud restaurant who pay the service tax . does waiter pay the service tax out of his salary for my lunch bill. secondly if i get my car get insured who pay the service tax does the general insurance agent pay the service tax on my car insurance . thirdly whn we pay mobile bill who pay the service tax please. does bill collector or their authorised agent pay the service tax in all three caeses the customer pay the service tax not the agent or broker it is charged by the company and being deposited by the the company who is raising the bill. so very simply i request that service tax on mutual fund sales etc should be charged from the investor and not from the ifa. and if the concerned authorities stil demand service tax to be deducted from the commissions earned from mutual fund sale purchase please make us understand how it apply to us. are we customers in sale purchase of mutual funds .

it is retrogradestep on the part of the concerned by killing small fries while the top are always knows to escape. it is the budding ifa s who are converting people about the mutual fund penetration into the market. while people savings generated are brought by small ifas who are encouraging small amounts of rs 1000 per month into sips they earn a peanut of 50 paise upfront and 30paise trail these people are taxed . in india is the only country where people spend 90% of their earning in the form of tax. the government only source of income comes through taxing the genuine people aachedin only for bad practises

YES..A BIG MISTAKE BY MODI GOVT.they are repeating the same mistake made by congress govt but congress later on reverted abd abolished service tax on MF brokerage..Since it is not justified at all--govt should recognise this mistake and try to avoid controversy as soon as possible..if at all they feel-it may be imposed on corporates agents only and in no case on individuals...

This imposition of service tax on IFA''s is total injustice. At one point we are encouraging and spreading awareness for mutual fund investments to common mass , while on other side we discouraged by this srvice tax imposition on the commission which we cannot recover by any means. There should be some limit like 10 lacs and above have to pay srvice tax, so that small IFA''s can survive.

If the Govt. is charging service tax on commission then it is fully injustice with distributors. In this way Government will get two way tax, one is service tax and another is income tax. service tax should be paid by the client because they are the end users and govt is violating own rules by not putting service tax on customers as end users

Unfair to charge service tax as it is a burden on IFA''s.

Service Tax is unwanted Tax imposed i personally feel very bad ...

undesirable.A heavy burden on small medium IFA''''s

It should be avoid service tax on earning on Mutual Fund. It will hamper activities of an advisor.

We will fight till the service tax waived.

Service Tax on IFA commission is tottaly unjustified. 1. on what ground we should pay service tax from our commision,when no other intermediaries paying. 2.Service tax of 14 % + income tax mini 10.3 % if some one has to pay then they will cap the commission also. I mean what is the motive behind ? Pl dont allow them to squeez us from all front.

It Is undesirable.A heavy burden on small medium IFA''s

Pl don''t impose Service tax on our commission, how can one collect Service tax from an Investor.Where ever Service Tax is applied , it is collected from end User. In Mutual Fund we IFA are not end user.and limit is to far in our case as the service tax is applicable for the income more then 8,00,000/ per year and in our case it start from zero income ,please check properly

If service tax imposed on commission then it is fully injustice with distributor fraternity. In this way Government will get two way tax, one is service tax and another is income tax. service tax should be paid by the client because they get the service.

IT IS UNREASONABLE TO CHARGE THE MUTUAL FUND DISTRIBUTORS WITH SERVICE TAX ON THEIR ALREADY POOR COMMISSION. THINK OF CHARGING IT ON AMC''S.

Pl don''t impose Service Tax on Distributor''s commission.

For any service given, service tax is supposed to be paid by the end user i.e. client. Charging service tax to an intermediary whether directly or indirectly is unfair on the distributors. Service tax further eats in to the already low income of IFAs making their survival difficult. The fact that most of the IFAs may not even have the minimum threshold income required for payment of service tax i.e. Rs.10 Lakh makes it grossly unfair on small distributors.Charging service tax to the scheme may be a fair option.

Pl dont impose Service tax on our commission, how can one collect Service tax from an Investor.Where ever Service Tax is applied , it is collected from end User. In Mutual Fund we IFA are not end user.

If the Central Government, consider us as Professional and impose Service Tax. No problem but SEBI should remove "Direct" business from Mutual Funds Schemes and all transections for purchase should be through IFA.

Dear Citizens, This Country needs a LEGITIMATE & HONEST ADMINISTRATORS TO RULE THIS COUNTRY WITH proper regulation and severe punishment. We do join the forum'' voice to remove the service tax on MF distributors. Srinivasan V.

ITS NEGATIVE FOR OUR BUSSINESS. AGAINST SERVICE TAX

with the above referance, this is really worse decision taken by central goverment. As a Advisor i really against it. first u capped on the commision. now u are loading service tax. how we survive in this condition ?

Service Tax on ARN holders is unfair. It should be borne by investors.

Brokerage to ARN holder is exclusive of Service Tax. So, if Service Tax is payable by the ARN holder, then first , Service Tax amount should be included with brokerage amount and thereafter it should be deducted by AMC''s and to be paid to Govt. In precise Service Tax part is to born by the AMC''s not by the ARN''s.

It should be banned.

In insurance policyholders pay service tax with their premium,then why do arn holder bear service tax in mf.

Against Service Tax

I dont think there is any justification to impose SERVICE TAX on Mutual Fund Distributors. In all fairness SERVICE TAX has to be borne either by AMC''s or Investors, which has been discussed time and again. Hope the concerned authorities will look into this and dont burdon the Distributors

please-dont-do-injustice-with-mutual-fund-distributors-please-dont-impose-service-tax-on-mutual-fund-distributor-s-commission. It is not fair.

The honourable Finance Minister can reconsider the matter and try to abolish the Service Tax being imposed on Mutual fund commisision earnings as this wil not even compensate our fuel and telephone expenses in many of the cases sourced by us.

Dear sir Requested to FM PLS reconsider about ST on MF commission or mimimum exempt 10 cr. of aum

We are getting a little bit percentage on mutual funds. It is not sufficient for conveyance expenses also i.e.petrol / rent / telephone bills. please abolish service tax on mutual funds commissions.

Like all the other industries the service tax should be imposed on the end user and why should the IFA''s bear it. It should be levied on the investors.

IN INDIA, SERVICE TAX ALWAYS PAID BY RECEIVER OF SERVICES, AS WE ARE SERVICE PROVIDER, HOW COME AUTHORITY CAN ASK US TO PAY.....

SERVICE TAX IS ANTI IFA

We are against service tax on commission.since we have no other sources except commission s and pay income tax on the income.

I strongly oppose service tax to be paid by I FA. It should be paid by the investor.

small distributors are suffer for this service tax .only last one year new invester is comeing in this mf market now competition also is very high .now every one prefer online small distributors completely suffer in this service tax .amc can bare service good for Mf industry

Service tax impose to MF distributors, it is injustice to MF Distributors

Mutual Fund Distributors are freshly added to the list for service tax realisation just because Banks & National Distributors are earning huge commission by the help of close-ended products. But I urge to all concerned, please be judicious in application of the rule. Is it not going to put the retail investor''s habit of prudent investment at a stake? The very habit of MF investments shall be killed in the process of realizing hefty service tax from the small distributor.

It is totally against IFA. It should be roll back.

SERVICE TAX IS TOTALLY INJUSTICE TO MF DISTRIBUTORS. SERVICE WE PROVIDE ON BEHALF OF MF AND SERVICE TAX WE HAVE TO PAY? COMMISSIONS ARE REDUCED. WE HAVE NOT BEEN GIVEN ANY EXTRA MONEY. WE HAVE TO USE OUR TIME,OUR INFRASTRUCTURE,LIKE INTERNATE, MOBILE, EVERY THREE YEARS RENEWAL FEE, ARN CARD FEE, SALARY TO THE BOY ETC. SEBI TOLD US TO CHARGE INVESTORS ACCORDINGLY VARIOUS FACTORS INCLUDING THE SERVICE RENDERED BY THE ARN HOLDER.In practical experience in India it is very difficult to get fees. IN SHORT THE STEP TAKEN IS TO DISCOURAGE THE DISTRIBUTORS. ALL AMCS ARE NOT DOING ANYTHING.WHY? IN DIRECT MODE WHO IS GOING TO PAY SERVICE TAX ? THEY NEED ONLY BUSINESS. PERSON BY HIS HARD WORK HAS BEEN CHARGED WITH INCOME TAX, SERVICE TAX. WE HAVE TO PAY ONLY TAX . AND ON OTHER SIDE EVERYONE IN GOVT SERVICE PERSON GET FRINGE BENIFITS,EVERY THREE TO FOUR YRS SALARY RISE,D.A. RISE EVERY SIX MONTHS AND SO ON WITHOUT ANY RESPONSIBILITY. OUR CROREPATI M.L.A.S AND M.P. ARE ASKING FOR THEIR SALARY HIKE EVRY NOW AND THEN AND ALSO HIKE THEIR PENTION EVERY NOW AND THEN.IN MY CASE I SERVICED PRIVATE SECTOR SERVICE FOR 32 YEARS AND I AM GETTING THE PENTION OF RS 1466 ONLY PER MONTH. THEY CAN DO BECAUSE THEY HAVE THE POWER. AND MAN WITH HARD WORK AN INDIVIDUAL IFA HAS TO PAY TAX. BECAUSE WE ARE COMMON MAN AND IN THIS COUNTRY NO ONE IS GOING TO HEAR.

SERVICE TAX SHOULD BE BORNE EITHER BY AMCs OR INVESTORS.

MF Distribution serves small investors who invest for development all round. Taxing small investor is harsh.

The definition service tax is like it should be paid by services recievers not by service provider.But I can''t understand why mutual fund distributer will have to pay service tax?.If this is true then all politician should pay service tax on their income because all are service provider to the public and recieve service from Government.If IFA will have to service tax then this industry have no future.All IFA should leave this business because we does not equal ground to compete with other industries.

MUTUAL FUND ADVISTORS ARE ALREADY PAYING INCOME TAX ON THE INCOME EARNED BY THEM. SERVICE TAX SHOULD BE BORNE EITHER BY AMC OR INVESTOR.

this is a huge blow on the business and will kill the distribution industry and will slowly kill the MF industry too. the tax is extremely high and retrogade

Service tax must be paid investor not Amc or IFA.

when getting brokerage i am paying 14% as service tax and while spending (for bus ticket,telephone,mobile bill children'' mess fees.rail ticket,refreshment, taxi,insurance premium.bank charges,bank card chrgesetc..) also paying service tax.For every Rs 100 earned i am paying Rs 28.

dear sir service recived by investor so sevice tax shoulb be applicable only on investor of .

this is fully unjustified..............

Commission earning is an income and is subject to Income-tax. Every rupee is accounted for and the IFAs are paying income-tax according to their income slab. If Service tax is deducted from the commission payment it amounts to Double taxation. IFAs are forced to pay 44% now for a 30% bracket, 34% for 20% slab persons. I wonder is there any such tax slab exists in our country even for a Super Rich? The levy is totally unjustified. If at all the Government wants to impose for revenue augmentation, the service tax has to be collected from the investors by raising TER. It is the customer who has to pay the Service tax. BSNL, Insurance companies and many others are all charging the tax from their customers and it should not be from the income of a person as it goes against the law of justice.

Service tax to be paid by amc or customer

This is double taxation. We earn less and pay more.

Abolish service tax on IFAs or else make it uniform for every financial service provider...mostly the insurance agents who earn way higher commissions.

Already our income is low and we can not go for registration of service tax to get refund since related expenses would be unbearable. Hence to promote MF business distributor commision should be out of Service tax.

SERVICE RECIVED BY INVESTOR SO SERVICE TAX APPLICABLE ONLY FOR INVESTOR OF M.F ,BANK,POST OFFICE,NBFC

I go with my distributor friends and agree to remove service tax from our commission.

We are the service provider to our investors and also to the AMC.as per my knowledge the ST RULES OF INDIA is ST WILL BE BEARED BY SERVICE TAKER AND ALSO THOSE GROSS TURN OVER IS MORE THAN 10LACS. IF it so than 90% of our IFAS will not eligible to pay the ST. DOWN the line if it is revoked on us .Than it will be very difficult to sustain in the industry as well as our lively hood.

Why service tax only on MF distributors? Why this not applicable for other financial product agents like Life Insurance & Non life Insurance agents or post office schemes agents?

it should not be.

Why service tax only on MF distributors? Why this not applicable for other financial product agents like Life Insurance & Non life Insurance agents or post office schemes agents?

IT SHOULD NOT BE.

We retail/small MF distributors are already working on very low commission. This additional charge will make survival more difficult. Its a humble request to FM and his team see it with our aspect......

It should not be

GOVT is not able to make up its mind. It is changing its stand according to some stronger lobby''s and some weak. First it charged ST then it removed it , now its come back with increased rates. There has to be some logic. ST is to be charged and recovered from the end user who is the investor here. So, ST on the management fees of the Fund houses charged to the fund NAV is the right thing. Now, if ST is charged by way of reverse mechanism on the distributors, the fund houses will claim credit, and pay that much less as ST on management fees. So where is the additional revenue to the GOVT, the only beneficiary is the AMC. So, Shri Arun Jaitley, Please review your stand, Why would you want to make the almost disappearing tribe of Mutual Fund Distributors extinct.

res. fin. min. please remove service tax, we can''t survive with it. and if you want to remove small MF distributior please continue it, thnx

WE ARE GETTING VERY LOW COMMISION & IT IS ALREADY DIFFICULT TO SURVIVE. IF SERVICE TAX IS ALSO IMPOSED ON US, OUR EARNING WILL BECOME VERY LOW. SO, FINANCE MINISTER SHOULD SEE THIS ASPECT ALSO & SHOULD NOT IMPOSE SERVICE TAX ON US.

If service tax is imposed the growth of mutual fund business may come down.

We are here because we have started our careers long ago. Keep on burdening and squeezing us because we do not have other alternatives. It''s sic to b in this industry.

As we are not getting any big commission that people get in L.I.C. I Humbly request our Honble finance minister to immediately withdraw this order and render a justice to our small I.F.A. community.By doing so our country''s MF business grows rapidly.

WE ARE STRUGGLING FOR PROMOTING MUTUAL FUND.A LARGE PART OF INVESTORS ARE NOT PROPERLY AWARE OF INVESTING IN MUTUAL FUND. IN THIS SITUATION I THINK, IT IS A FOOLISH DECISION BY THE GOVT TO IMPOSE SERVICE TAX. IT MUST BE REMOVED.

pl remove the service tax

service tax on MF income shoul remove. as we are alrdy struggling to explain MF investments to clients & survive . and FM load service tax on MF income. its a foolish decesion by him. it must be remove.

SIR I AM AGAINST GOVT. DECISION FOR SERVICE TAX BECAUSE GOVT. WANTS TO IMPROVE ECONOMY BY WAY OF MF OR DIRECT EQUITY MARKET. BUT WE SUFFER IN OUR INCOME BY WAY OF14% AND ALSO GOVT. OR SEBI THINKING FOR RATE CUT IN COMMISSION HOW WE CAN SURVIVE EVERY STAGE WE SUFFER IN THIS WAY. WE HAVE TO STOP THIS BUSINESS.SO PLEASE DON''T IMPOSE SERVICE TAX ON US THANKING YOU R.D.OZA

Let the service tax be an indirect tax only. Move will be negative for the growth of the whole MF industry.

Please withdraw Service Tax on MF Distributor''s Commission. It is unjust as Distributors provide service on behalf of AMCs/MF.

Service Tax to be removed.

REQUEST

YES I AGREE WITH THIS. PLEASE WITHDRAW SERVICE TAX.

Government putting all efforts to discourage mutual fund sale through distributor''s.

we are now only going to get brokerage by official terms after long time for which Govt what to enjoy that post couple of year AMC enjoyed after that now Govt.

It is in justice to MUTUAL FUND distributors for any other financial product distributor is not paying service tax. How can impose only for MUTUAL FUND distributor. Please withdraw it.

Mutual Fund Distributor''s annual income is so meagre, it does''nt attract Incometax also. There is no justification to levy Service Tax.

Sheer Injustice to the entire MF Industry. Mr. FM kindly rethink.

This is Injustice, because We paid Income tax , Profession Tax but our Income is not fixed. And then service tax. This is very pathetic Act. So, please do the needful for Non-implement the service tax . We are citizen of India. We are voteing the Central level, state level, District level.

We give services to our clients, and govt wants we distributors to pay fr that service.just think how far that is correct

We IFAs are working for a very nominal brokarage. Even from this small remuneration we are burdened with the Service Tax is totally unacceptable. Govt has to revert its decision on service tax on IFAs.

why MF distributor has to PAY ST eg.14% where there is less income and more efforts ,Govt has to reconsider and abolish the ST on Mf COMMISSION

It is my sincere appeal to the concerned authorities to bring parity among all in the financial sector. The service tax is not levied on Agents selling Insurance policies as ST is collected from the customer who is the key beneficiary of service rendered by agent, However MF distributors are at disadvantage due to ambiguous approach by the industry. We also serve the financial sector but with better and with all care and follow all regulatory requirement. It is time for the govt to take corrective step to have a level playing across financial sector . Hence i also call upon AMC to take this matter into cognizance as the MF distributor should not be disadvantaged by this measure and put in place the right way of dealing this matter by charging the customers directly and paying the ST to govt.

TAX SHOULD NOT BE COST OF SURVIVAL ( A MUTUAL FUND ADVISER HARDLY EARNED AND MOVE HIS FAMILY AND EARNED LOWEST % INCOME PERSON ) IF ALL THE EXPENSES ADJUST NO MORE IS BALANCE IN THE HAND TO SAVE AND PAY AS TAX. GOVT. MAY GIVE SOME RELAXATION LIKE CERTAIN LIMIT TO es. RS. 10LACS. WHO.IS EARNED EXCESS OF CERTAIN LIMIT THEY WILL BE IN PERWE OF SERVICE TAX.

It is very bad to introduce service tax for M F distributors

The service tax on brokerage payable to distributor in mutual funds need to be stopped with immediate effect. A distributor gets a brokerage of Rs.100(for instance) and in that if service tax is deducted he gets net Rs.85/- and this is not going to suffice his revenue . In the event of service tax deduction not getting stopped, the only alternative for distributor is to stop selling and to seek other avenues for revenue and living too. The AMC''s are going to be greatly affected. Lets all of us join together to fight unitedly for this common cause.

This is injustice against IFAs by our regulator and Govt. of India, service tax is always paid by end users who are taking services not by service providers. our AMCs should also take appropriate action against this crime done by Govt of India and our regulator.

Mutual Funds in India are the most transparent and cost efficient vehicle for investment and for retirement planning. Government instead of providing incentives for Advisor''s is discouraging the same as wafer thin margins makes it sometimes not viable to advise this product. Customers specially the retail too are not that mature to pay a fee. Serious thought has to be put on the advantages of Mutual Funds for us Indians. The 20 year returns of some good funds itself should close the case.

Servicetax should not impuosed on brokerage.It is BMunfair.

Its a grave injustice meted out to Mutual Fund Distributors. Request the Government to reconsider its decision to levy service tax.

Service tax on mutual fund distributors brokerage is a very wrong decision. We are earning very less commission and now we will have to pay 14% service tax. Indirectly government is saying don''t sell mutual funds.. Please remove service tax from our commission

Its not fair...should not be imposed...

I request the A M C to absorb the service tax & charge it to expense ratio of Indirect plans. I am not opposed to a corresponding reduction in brokerage to this extent.

Please dont do injustice with MF IFA by imosing service tax on commision

Should not be imposed on IFAs work.

sir, as IFA we are receving lesser brokrage compare to other facial istitution like lic, gic etc. on the brokrage received 14% service tax is very much mre. That to what we are earnig is from our hard work and convincing capacity.So i request pl remove this service tax for IFA catagery.

Unfair...should not be imposed

Do not Impose Service tax on brokerage of IFA Because It is negative for business but more in B15 Cities

Service Tax should not be imposed on brokerage to distributors..

DO N''T IMPOSE THE SERVICE TAX FOR IFA WORK.

It should not be imposed on IFAs. as is the practice.

Don''t creat a seperateclass of tax payers @24% asMost IFA s have income upto that extent only

This is unfair. We are distributors and not service providers whatever charges should be taken from service stake holders. My sincere request to government pl abolish the Service Tax imposed on us. To save industry and IFA.

Introduction of Service tax collection from MF distributors is not only injustice but also completely stop the activities of the distributors fraternity. In fact in our city no investor prefer to pay any fees for our service. etc. Instead the AMC and sebi can do completely ban the distributors service. It seems such steps like direct, no commisison etc. leads to middle class and ordinary are made not to participate in Mutual fund industry

same as other commission plz deduct TDS IFA KO BHI SAMANTA KA ADHIKAR DIJIYE

SERVICE TAX will increase Profit of AMC

If Sebi take all unfavourable decisions verses mutual-fund distributor, I think mutual -industry caught in very dangerous position.. Sebi take decision on AUM based... How to survive new coming distributor.

It is very surprising to see that two three years back, before SEBI ban MF commission, service tax is changed of MF commission when it is fix at minimum 2% & maximum upto ACM to drawn MF business in there basket. And to stop mis-selling SEBI ban MF commission. And when there is no commission or very low commission, again imposing service tax on low commission means a question arises, is it really regulatory want financial awareness among people who actually want to stay away from market ? I had came across with an article, which says 75 to 80% people don''t like to pay fees for advisory business. If people don''t want to pay ? AMC pay for MF products like doing big fever to distributors ? Government wants to impose service tax ? What should we do ? Leave the business?

we are providing services to inversor,not taking services so service tax should not apply on distributors

Investors enjoy services from IFA fraternity but service tax is deducted from IFA earnings.I really does not understand this logic. I oppose deduction of Service Tax from IFA Earnings

If m.f industries want survive then service tax withdraw.

Penetration of equity investment in our country is very low compare to other forward nations. So we request finance minister to cancel the service tax on mutual fund brokerage . To promote mutual fund industries,exempt service tax.

It is very unfortunate for distributors that service tax has been imposed on them from 1st April. I request to reconsider the decision taken regarding this and give relief to thousands of distributors.

I am not competent to say if it is right or wrong but it certainly is painful to pay tax on very low or no compensation earned for distributing MF schemes. It certainly is surprising on one hand the law exempts those from paying Service Tax who have incomes below ten lakh but on the other hand such people are subjected for deduction of service tax at source. There is no clarity how one can save oneself from this TAX, specially when one is exempted fro this Tax under the act.

To grow retail investors in mutual fund industry do not impose service tax

service tax impose on distributors is injustice

it is the extra burden fr ifas pls reduce it immediately

SERVICE TAX IS IMPOSED FOR VERY DISCOURAGE FOR THE IFA COMMUNITY.

Good to do this

service tax imposed on distributor is injustice to MF distributor

I oppose of service tax.this is discouragious for new arn holders

WE ARE ALL AGAINST SERVICE TAX IMPOSED ON DISTRIBTOR UNETHICAL ILL LOGICAL

Please do not apply service tax on mutual fund brokerage . As the brokerage on mutual fund is very low compare to Insurance brokerage and it is very much difficult to service on it and give good service to our client as well as to mutual fund industry Mutual Fund industry is the back bone of capital market and is also a back bone of our countries economy . Penetration of equity investment in our country is very low compare to other forward nations. So we request finance minister to cancel the service tax on mutual fund brokerage .

I strongly oppose the service tax on mutual fund brokerage. It discourages young people to join and also dents a huge blow to the IFAs pocket who are already in the lower income bracket. Government on one side wants to increase the awareness to the equity investment and on the another side discourages the people who are on the frontier. I don''t understand this double standard. On one side SEBI and another side government. I am really in dilemma whether they want to really promote or demote the industry.

I support this noble petition - there should not be any service tax for Insurance Premiums and Mutual Funds and also on commission paid to agents

BEING AN IFA AS A MIDDLE MAN, ONE SIDE WE ARE TOLERATING THE INFLATION IN DAY TO DAY NEEDS, EVERY YEAR EDUCATION COSTS OF CHILDREN IS INCREASING 20%-30%, EVERY YEAR MEDICAL COSTS IS RISING 10%-15%, INCREASING ELECTRICITY BILLS AND SO MANY THINGS OR ALMOST EVERYTHING ARE GOING EXPENSIVE EVERY YEAR. THEN WHY SEBI & AMFI PROPOSED CAPPING OR DECREASING THE MF COMMISSIONS. ON THE OTHER SIDE MR. ARUN JAITELY PUT THE EXTRA LOAD OF SERVICE TAX OF 14% ON MF DISTRIBUTOR COMMISSIONS. I PERSONALLY THINK THAT ACCORDING TO MR. ARUN JAITELY, MF DISTRIBUTORS & THEIR FAMILY MEMBERS HAS NO RIGHT TO LIVE IN INDIA.

Service Tax imposition on MF income would make the task of financial inclusion as much difficult for distributors.

????? ?????, ??? ???? ????? ?????? ???????? ????-?? ?? ??? ??? ?????????? ??% ?????? ????? ?? ????? ??? ???? ?????? ??? ???? ??? ??? | ?? ????? ??? ????? ????????? IFA ASSOCIATION ?? ??????? ??????? ?? ??????? ????? ?? ?????? ?? ???? ????? ????? ?????? ?? ??????? ???? ?? | ???? ???? ??????? ????? ??????

Sure its deduction fm investor or amc bcoz they earn more profit n giveus just a small part

First of all i don''t understand the logic of charging service tax on distributors. Take the example of current bill and telephone where the service is provided by the service provider and the customer is charged the service tax. In the same way, distributor is not selling their product but just connectiong the AMC and investor. Hence charging service tax on distributor commission is highly objectionable and also it seems they wanted to wipe out the distribution channels completely

Imposing Service Tax on IFAs who are giving services both to Investors and at the same time to AMCs by distributing scheme details of new and old schemes and not the end user of any services are not supposed to pay service tax. It is a injustice to them. It is like a restaurant service guy is paying service tax for the service he is giving to the customers and the hotel Management.

Service tax should be levied on upfront only not on trail ..

I STRONGLY OPPOSE THE SERVICE TAX ON MF DISTRIBUTORS...........

Reimposition of Service Tax on MF advisors is not at all justified because we are simply the intermediary. Actually Service is provided by the AMC. So service tax deduction from the earned commission goes against the principles of justice.

Since Service Tax is a indirect tax, so it shall be recovered from investor, not from distributor. If it is deducted from distributor, then is a violation of fundamental right provided to us by Indian Constitution.

Who will listen our words they are having more than300 seats

I also oppose this levy of Service Tax, not only on Financial Advisors but also on all low earning groups. We should also understand that income from Service Tax is tremendous for the Govt. Hence, getting the service tax completely removed will not be possible. I, therefore, would like to suggest a refund of Service Tax system for IFAs & Insurance/Financial advisors. Like we have a Income tax free minimum income slab of Rs. 3 lakhs (3.5lakhs for Sr. Citizens), Govt. can consider introducing a similar system where a refund of service tax be allowed to the Advisor or anyone on whom Service Tax is levied, if his/her total annual income is below the minimum taxable income. This will definitely help all low earning Advisors, who are in majority across the industry.

I Strongly oppose service tax on mutual funds distributors. Let us fight together.

It is really sad & unfortunate. This clearly shows how "min-minded" are finance minister, prime minister & the BJP government. The wise & prudent way is to levy tax who really earns the highest. I am for the petition agaist the proposed levy of service tax on MF distributors. This must go and Govt need to withdraw the same at the earliest.

Good movement

Strongly opposed to deduct Service Tax from Distributors

I fully endorse the request not to impose Service Tax on this pity advisors. This category of Financial Advisors is at nascent stage in this country. Only an understandable Finance Minister can stop it, I suppose.

nice initiative....co operate every one of IFA Community...

Strongly oppose service tax on mf distributors.

I support the cause and appeal to the Finance Minister, Govt of India to withdraw the proposal of service tax levied to the mutual fund distributor community from the finance bill.

Service Tax must not be levied on Mutual Fund Distributors otherwise nobody would be left to sell mutual funds, country will lose massive capital which comes through equity and debt markets. This is a bad government and is behaving contrary to what people expected. Achche din forget, whatever achche din were there those are also gone Mr. Modi.

Nice initiative ...........full support from us.

why service tax to IFA for giving service to client ?

I hope somebody listens. Only the small IFA will be penalised. What about those who invest DIRECT who is going to deduct service tax from them. AMC or SEBI or ?????? Law is never for the poor always for the RICH as they can hire the best of people to give advice and fight their cause.

TO promote mutual fund industries,exempt service tax.

Strongly oppose service tax on mf distributors

We strongly oppose the service tax.

LAW SHOULD BE UNIFORM AMONG INDUSTRY. NATURE OF SERVICES ARE SIMILAR TO LIFE INSURANCE AGENT. HOWEVER, ADVISORY FEE, WHERE I F A /DISTRIBUTOR CHARGE FEE FOR THEIR ADVICE, IT IS SERVICE , HENCE BE TAXED AS PER LAW. WHERE AS COMPENSATION/BROKERAGE/COMMISSION FOR SELLING THIRD PARTY PRODUCTS, MUST E TREATED AS SERVICES TO PRODUCER(MF,S ) HENCE COMM BY INDUSTRY TO AGENTS/DISTRIBUTORS HAS NOT LAWFUL OBJECTIVE FOR IMPOSING SERVICE TAX ON AGENTS, BECAUSE THEY ARE NOT CHARGING TO INVESTOR LAW MAKERS, SHOULD NOT TREAT COMM/BROKERAGE FROM MF,S AS SERVICE TO INVESTORS, WHEREAS OUR SERVICES ARE BEING UTILIZED BY AMC,S , HENCE THEY SHOULD PAY SERVICE TAX TO Govt. Point is very clear.. and is lawful.... this is the natural justice..all other opinion can not sustain in court as well

pls.save mf ind.& save ifa.

Charging service tax is not justified

PEOPLE who have stashed money in swiss account has been treated fairly by allowing them to declaring the assets by paying regular income tax but where as a wilfully struggling IFA has been imposed and burdened upon further to pay the service tax which even all AMC are giving a cold shoulder on this issue. iam against service tax as this may be i can say as very henios act in financial services

If top 10 AMCS comes together its a small issue for them , They can decide the trend,If LIC business and MUTUAL FUND BUSINESS both are comes under service, then why both are treated separately? .both should be under same tax net.do you thing SEBI, RBI ,AMFI dont know about this ? Then who is playing with this?who is more benefited by this?

sir POST OFFICE IS AD VISOR IN POSTAL SCHEME LIC AGENT IS ADVISE LIC SCHEME GIC AGENT ADVISE GIC SCHEME AND SO MANY OTHER AGENT WORK IN FINANCIAL BUSINESS BUT ANY AGENT OR ADVISER NOT PAY SERVICE TAX WHY ONLY MF AGENT OR ADVISOR PAY SERVICE TAX + INCOME TAX EX. MY INCOME RS 14 LACK I PAY SERVICE TAX 14% +33% INCOME-TAX TOTAL PAY TAX 47% AND MY OTHER EXPENSE IS NOT INCLUDE .HOW MONEY LEFT IN MY POCKET?

we are the ultimate service provider,clients are the ultimate receiver of fthe service we provide, but we have to pay the service tax................ damn with sebi n govt

I am against service tax

Our situation is like.. -- koi bhi aake maarke chalaa jaata hain.. We are doing the same work since ages..but first we were called IFAs, then we were forced to convert or choose between ADVISOR or DISTRIBUTOR..In both cases we believed we are doing business (or Self employed?). All these years efforts were made to paint us all with the common brush of mis selling agents..Still we survived.. so GOVT & may be AMCs are worried on how to get rid of us.. So now we are counted as Service providers and the 1st in the world to provide service and pay tax for doing so..May be next year we will be counted as SMALL CORPORATES and we will have to pay for CSR (Corporate Social Responsibility) also..Then we will be asked to pay Advance tax based on our projected incomes..and if we still survive..just imagine what else can be done on us... But we survive..just like Krishna & grow..

In all other service oriented businesses, the burden of Service Tax is generally passed on to ultimate consumer of the service. eg. Communication - BSNL, Vodafone etc. Transport - Railway IRCTC Railway booking, Insurance policies etc. With the same treatment to Mutual Fund industry, the ServiceTax, if at all to be levied, then must be included in TER of the AMC and subsequently charged to the investor.

Please stop exploiting IFAs by removing extra financial burden of Service Tax.

Service tax on mutual fund distribution is an unfair levy and should be exempted.

Sir, The policy to levy additional cess is for squeezing the IFA like Jalian-wala Massacre.

BY LEVYING SERVICE TAX (ST) on mutual fund investments by investors, they will be burdened with additional out go of their funds. SEBI has been proclaiming some rules or the other day in and out which complicates investors. By ST, it will be difficult to attract investors anew. The existing investors my protest and may not show much interest, leading to discussions and arguments. the Govt has not extended much sops to the investors in this budget. THE ST, per se, should be avoided and it is a misconceived idea.

indirectly this is double taxation. if u wants to levy then give credit against income tax payable.

Imposing service tax is like double taxation because we cannot pass it on to our clients who are investing through us as we are giving services and not receiving services.

We are not able to meet out expenses of office,fuel,& telphonee,wifi,postal expenses.The imposition of service tax is in addition to income tax that we pay.The service tax should be to the investors to whom we serve.

First it was No Entry Load Next came Direct Plans Third came Differential NAVs From 1st April it is likely to have `No Upfront Brokerage` And now this unwanted service tax. How many more deadly hurdles IFAs will have to face, God only knows! DOWN WITH SERVICE TAX! DOWN WITH SERVICE TAX!! DOWN WITH SERVICE TAX!!!

Wish the government waives off the additional service tax levied on commissions to IFA''s.

Distributors shouldn''t be paying the service tax, we are infact providing the services and not receiving the services.

It is unjustice with IFA

Service Tax on Distributors after collecting it from the investors is grossly unfair.

Service tax should not be imposed to us IFA community.Govt should protect our intrest because most of IFAs are struggling to meet their day today bread upon this business.

It takes years to Build an Empire, a Second to destroy. Govt. has to take decision to Build or Destroy Mutual Fund Industry. As per IRDA direction Life Insurance Cos, will give Minimum Rs 10,000 Salary to Insurance agent from 1 April 2015. What about AMC, any Offer.

Service tax is payble by the coustmer to whom service is provided. Agents (IFAs ) are giving services to coustmers / clients , hence agents are not liable to pay any service tax in yhis case.

Service tax is payble by the coustmer to whom service is provided. Agents (IFAs ) are giving services to coustmers / clients , hence agents are not liable to pay any service tax in yhis case.

Please do not do injustice to the mutual fund distributors by imposing service tax to them which was abolished after due deliberations and discussions on the issue. MF distributor is not the consumer of the services.

regulator guide lines we can not change. but we can charge from our clients. if client is not interested to give fee that client does''nt deserve to be our client. we must improve our knowledge and skills in such a way that we can charge fee from our clients.

Please donot impose service tax on hapless mf distributors who work on a slender commission and but for whose efforts the MF market would not have been as big as it is today

Mutual fund IFAs are the least paid agents in the financial product selling industry.so it a injustice to them so please donot add them into service tax list

Injustice service tax

I AGREE PLEASE DONT IMPOSE SERVICE TAX ON MUTUAL FUND DISTRIBUTOR COMMISSION

Dear Sir, Refer to the Service Tax being imposed on the Distributors of mutual Fund houses, I would like to state that SERVICE TAX, on mutual fund distributors commission, SHOULD NOT BE IMPOSED . SOBTI

It is injustice for us. We strongly condemn it. It is not a service tax, but it is a income tax deducted at source. My question is who will pay service Tax - AMC or Distributor or Investor ? Ultimately who will getting service and from whom - AMC, Distributor or Investor ? If the Govt. present proposal is right, why it should not be implemented on IRDA Agents also.

This is very very injustice with mutual fund distributors.

-please-dont-impose-service-tax-on-mutual-fund-distributor-s-commission .Already commission for regular open end fund is very less.

AS FAR AS MY KNOWLEDGE IS CONCERNED & IN MY OPINION PAYMENT OF THE SERVICE TAX IS PAID BY THE END USERS THEN WHY IT IS BURDENED ON THE MUTUAL FUND DISTRIBUTOR & WHY THE GOVT IS NOT RECOVERING IT FROM THE CLIENTS OR INVESTORS, AS IN CASE OF ALL OTHER SERVICES LIKE HOTELS, TRADERS, TELEPHONE SERVICES ETC. MY EXPERIENCE IS THAT THE GOVT''S POLICY (IN FUTURE AS WELL AS IN THE PAST) IS TO PUT THE TAX BURDEN ON THE PEOPLE WHO DON''T RAISE THEIR VOICE. IN OTHER WORDS I WANT TO SAY, BURDEN THE PEOPLE WHOSE VOICE CAN''T AFFECT THE GOVT OF THE REGULATOR IN ANY WAY. I AM SORRY TO WRITE THIS BUT IT IS THE TRUTH.

Service Tax should not be imposed on us...A

IFAs are service providers and not service acceptors So it is against the concept of service tax to collect service tax from commisions of IFA

Service tax is charged to the person/body/organisation who actually receive the service. By no means we receive any service from any body, rather we provide service. So there is no question of imposing any service tax on IFAs.

IFA''S are not availing of any service.Rather they are providing their services to AMC''s & investors. Hence this service tax must be collected from AMC''S or investors.

The Service Tax being imposed on IFAs would hamper growth of financial markets upbringing and it may jolt the prosperity of Mutual Funds Industry. Since, we are heading for overall financial and economical growth for our nation under Modi era and this step being initiated will not be in favour of Financial Advisers and MF Distributors.

The government is bent upon to kill the little child names as "Mutual Fund" by imposing as much hardships as it can. May it be CYC Compliance or need of PAN Card for an SIP of an amount as low as Rs 100 p. m. and now the service tax.

Why we should pay service tax? Is we are taking services form AMC''s or Govt?

Service Tax imposed on IFA''S should withdrawn immediately.

SERVICE TAX IMPOSED ON IFA SHOULD IMMEDIATELY WITH DRAWN LOOKINGFORWARD FOR THE SAME

It''s an injustice to us. WE strongly condemn it. It''s not a service tax , but it''s a income-tax deducted at source. All the IFA''s should unite and fight against it.

In case of Telephone bill etc. the service tax is recovered from the service receivers and paid to the Govt. Likewise, the serivce tax may be debited from the customers'' investment amounts in Mutual Funds and paid to the Govt. It is totally unfair to deduct the same from the distributors'' commission particulary when the inflation is gone up like anything & reduction of their income in all the ways by the Regulators. But no such control is being exercised in any other industry where they charge exhorbitantly.

We are not rich enough to pay service Tax from our pocket

DEAR FRIENDS,I,j.p.gupta also against the imposing service tax on MF distributers commission and always with the forum.

Service Tax is to be charged to investor only. Because all services either by AMC or Distributor are ultimately given to investor. Service Tax should be loaded to funds. We distributors give services to investors on behalf of AMC and not take services from AMC. This is fulish law. Regards Sunil Sharma

Please don''''t impose SERVICE TAX on Mutual Fund Distributors.

I totally against the service tax imposed on IFAs.

IFA s are the people who help the investors to create wealth and the AMCs to run the business. We are not the company nor the beneficiaries . lic commissions are not charges by service charge why it is to us, if we earn more we are going to pay tax also then it is double tax on us is it reasonable

Thank You for your awesome initiative ,unnecessary they put burden on us instead of AMC. I am with you with TANN,MANN N DHANN. Thank You Umang Agarwal

Earlier government said, It has motive to expand Mutual Fund industry. Could not understand, how they will achieve motive by harassing and reducing distributor''S income by imposing service tax. This is totally unjustice to them.

Please don''t impose SERVICE TAX on Mutual Fund Distributors.

Service tax on distributor''s commission is an injustice and double taxation as the distributor will also pay income tax on the commission earned.

Do not levy service tax. If the decision is not reversed, then ST has to be borne by the Investors as they are the ultimate service receiver.

Service tax on distributor''s commission is an injustice and double taxation as the distributor will also pay income tax on the commission earned.

IFA gives service to customer, but govt put service tax to IFA Commission, Is this justice?

what is doing the SEBI,RBI, AMFI & GOVT. All are doing the work together to kill the industry''s main piller (distributor), some is imposing service tax ( we are paying Free Service & service Tax Both), some is asking Direct bussiness, some is asking to cut upfront & reducing the TER, some for KYC. There are lot bussiness in the market where no cap of incentive, profites and other direct & indirect benefits. The most essential product like medicine, there can not imagine the profite/benefite of saller/doctor/MR/compony etc. Govt tells everywhere that oportunities of employement will be increase, but as i am looking this is the step to reduce the employment. The person those are ingaging in MF industry so long where they will go in their old age. Please send the massage to Govt, who can that please give the facility to distributor, not the hurdle. They walks in rainy,winter & summer situations without any hasitation, & think about the customer as God. Thanking you

The service tax should be borne by the individual who is availing the service and not the service provider, the Mutual Fund investor should bear the Service Tax and not the IFA. Hence service tax should not be deducted from the IFA commission but should be debited to the investor''s folio.

As mutual fund is in a very premature stage compare to other investments asset class...Revoke of the service tax will be welcome and encouraging...

Service tax cannot be passed on to the end user in our industry unlike any other industry. It is deducted at source by the manufacturer. It seems very unfair and therefore should not be levied on the distributor community

NO Service Tax

Why are we charged Service Tax ? Are we taking serivces of MF AMC ? We are merely the channel of distribution. So, actually, we are a part of MF AMC. Service is given by the AMC to the investors. So, it is the investor who should bear it. Not us. We are being paid negligible by way of commissions. In addition, we are charged Service Tax on our commission. This is grave injustice. We also have to pay income tax. Please spare this group called IFAs who are doing a great job on low commission.

It should not be imposed on the distributors

Pls don''t impose service tax on Mutual Fund Brokerage.

They total want to reduce the IFA force in india so that mutual find amc alone can directly sell the products in the market. The non graduated politicians are only interested in looting money from people. I even doubt why they impose service tax on life insurance products which is completely for investment. In future you end up paying the returns generated as service tax to the government.

Dear FM, Distributors like us create wealth for investors in long term by doing door step service and taking care of clients. Sometimes, the investors do not pay us the service charges and we depend on the commissions from the AMCs. Why we should be charged service tax after all the effort? it is totally unfair and should be passed to the investors. It is not good.

dont do injustice mutual fund distributors .

pl do not burden us by deducting our brokerage with service tax

SERVICE TAX NOT TO IMPOSE ON MF DISTRIBUTORS. MF DISTRIBUTORS INCOME IS TAXFREE ? PL RE THINK IT .

Service tax should be on investors , as investors are served by AMC, while if service tax levied on distributors that means only distributors are enjoying AMC service, and direct set of clients will not pay service tax. That is wrong mode of taxation. Hence i am voting against this structure of service tax.

FIRST IMPOSE SERVICE TAX ON INSURANCE & FD AGENTS. GOVT WILL GET MAJOR CHUNK.

This is the proverbial last nail in the coffin.If FM wants to wipe out distributor spent slowly,just finish with 1 stroke,but,provide alternative job opportunities to enable them to survive.Just to score brownie points is it.Sic!All study and money spent by distributors being allowed to go waste.Illogical and distorted.

It will be complicated for IFA to maintain service tax record .

We are not liable to pay service tax. It is total injustice. We are paid less compared to other products in the market.. If such charges are levied on us how could one survive in this Industry...

We are not liable to pay sevice tax. It is total injustice.

We are not liable to pay sevice tax. It is total injustice.

Service tax may be passed on to the investers and not on distributers.

This service tax should not be charged

Please do not impose service tax, as we get the commission very less in proportion to our efforts. Hence requested.

The Finance Minister should make an exception of IFAs to pay service tax. Other players in MF industry can be charged.

Imposed service tax not fair

Mr.Ramesh Shetty orders a pizza. It is delivered to him. He makes payment. He enjoys the pizza , the outlet gets its share of profit. The poor delivery boy is made to pay the service tax. Fail to see the logic.

Mr.Ramesh Shetty orders a pizza. It is delivered to him. He makes payment. He enjoys the pizza , the outlet gets its share of profit. The poor delivery boy is made to pay the service tax. Fail to see the logic.

please-dont-do-injustice-with-mutual-fund-distributors-please-dont-impose-service-tax-on-mutual-fund-distributor-s-commission

Service tax on IFA is not fair. It should be borne by AMC''s Like " Legal Services" OR Exemption can reinstated looking to the hardship faced by IFA''s

Govt. Shud give serious thoughts before imposing such Tax on small amount earning people while contributing to countries economic growth. Ultimately investor should bear the burden of tax logically. As v r not able to charge this service tax from whom v r giving The services, Advisor should be kept out of this tax perview.

I am new to Mutual Fund distribution business and finding it very difficult to keep pace in this field. I am not getting considerable amount of brokrage, may be due to ticket size. Immposing service tax on our income means, cutting our bread. I can not imagine the small piece getting more smaller now. It is hard to believe that we have to face so many difficulties. Having small clients is worth making crime? Pls let us survive.

Service Tax imposed on investors not on distributor.

finance minister should think if we pay 14% as service tax and 30% as income tax we will be paying 45% of our income as tax so it will be very difficult for us to survive

As a mutual fund advisor gov. force us to pay duble tax, income tax and service tax. In other sectors service tax born by client then why it is on mf advisor.

abolish Service tax...unwanted burden on IFAs.

As the service tax charging on MF Commission is like Pickpocketing of advisors who are bringing Retail Investors'' money into Mutual Fund & cultivating habit of Equity Investment. Finance Minister should rethink on charging Service Tax on MF Commission & help to grow Equity market penetration of retail investors I request FM not to charge Service Tax on MF Commission Regards, Dhananjay Parab ARN-84632

Humble request Finance Minister to save Distribution Business and for financial inclusion of retail investors.

I am totally against the service tax imposed on IFAs. This would adversely affect the mutual fund industry. With the current commission structure it is not feasible to give service to the clients & this additional burden would be deadly blow the IFAs. Govt tring to fill their pockets at the cost of advisors survival.

abolsih service tax to IFAS.

How are Mutual Fund Distributors different from LIC Agents? Besides, they must get an opportunity like any other Service Tax payer to recover the Service Tax from the person to whom the service is provided. They should not be made to bear the burden of Service Tax.

It''s so much burden on mf distributor. Pls it should be on investor or mf nav.

Service Tax on MF commissions is unfair, this needs to be reconsidered. With onslaught from all directions, it is becoming difficult to sustain existing operations. The hit on the Income will be severe, this will prevent penetration of MF among new investors.

This is totally unfair. It has to be removed.

Service tax imposed on investors not on distributor.

I support the petition against the service tax imposed on IFAs

we are not able to charge to anyone for the tax which is given to Government although we service provider and not service taker.

Service tax imposed on investors not on distributor.

Very good move against it., we all IFA'' s should have taken strong action into this matter...... Also suggest how one can file petition online ...?

its a hassle-will encourage BABUS TO HARASS AND NCREASE CORRUPTION

its to Much burden on Advisor

It a burden on poor agents

Please DO NOT impose service tax on distributor commission as this will help save the dead Industry & would in turn help the economy by greater savings in MF products.

Service tax imposition on MF distributors should be abolished

It should be on invester