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Go to oppose all Ifa at all location with same date and time all over the nation.If you will want all listen you do as collectivelly not individually by one location.

I am also 100% agree with mr. bharat bhushan arya,abohar, arn-57035.I request to all IFA,Head of all amc,AMFI,and SEBI to take the matter to finance minister.

Dear friends, Talks of improved financial savings will not succeed till there is policy stability for the mutual Fund industry. We have seen policy attacks on MF industry on regular basis since August 2009. The effect has been, people think twice before entering MF industry as advisor. If you analyse deeply, this Service tax(ST) has potential to kill IFAs in the long term.Since 14% additional ST will be imposed on IFA income. Two cases may arise 1) If AMC takes the burden of ST, the AMC will show this expense under Regular plans, the effect will be...more difference between Regular and Direct plans, which in the coming time...will grow big. 2)If ST is paid by IFAs , then it is very simple to understand, it will create a deep hole in our pockets. The effect will be same, the gap between Direct and Regular plan is set to grow faster and possibility of loosing your long loyal customer are imminent. It is a fact that majority of the commissions are pocketed by big distrbutors, who are also infamous for mis-seling, but small IFAs are always chosen asthe scapegot.The people who have the responsibility to nurture and grow this industry must see the ground realities, as MF has big potentilal to grow. But the IFAs are not being treated, as the stake holder, most responsible, to grow this industry. Hardly 50,000 IFAs are seriously working in the MF industry, in comparision to Life Insurance (24 lakh agents). If the Govt. really wants to popularise financial savings in the country, then it has to treat MF IFAs keeping in mind the ground realities.

I think that a number of IFA are coming in Range of 20% income tax slab. This means that Now IFA will pay 35% TAX (20% IT+15 ST) Which means that IFA will pay 5% more Tax in comparison of higher income group ( More than 10 lac ) . I humbly request to Mr. FM, Please think about it again , That it is not justify that a hard Worker IFA pays double tax on its small income.

I 100% agree with Bharat Bhushan ARYA, ABOHAR, ARN-57035 I request the all IFA community,Head of all AMC Amfi and Sebi to take the matter to Finance Minister.

Who will bare ST in case of direct investment?

There is a clause in Service Tax Rules, ie., Service tax exempted to a thresh hold limit of Rs.10 lakhs of Commission income per annum. Most of the IFAs come within this limit. So if service tax is directly charged on us, is there a way to get it it refunded, like Insurance agents after TDS on income get Income tax refunds?

Hi! It is just like the hanging the dead body once again.

we have received from AMC small commission and it is also taxable income tax. Now FM insisting sevice tax and who is going to pay the amount either AMC Or ADVISOR. We are servicing customer for small brokerage. Previously Mr.Chidambaram has given headache now Mr Arun Jetley is giving headache to our IFA"s Both are same. SEvice tax 14% is very huge Mr Arun Jetly is giving headache to our IFA.

BEING INTERMEDIARY, SERVICE TAX SHOULD NOT BE CHARGED TO THE INDIVIDUAL IFA. HOWEVER IF GOVT.INSISTS ON CHARGING SERVICE TAX, IT SHOULD BE IMPLEMENTED AS BELOW. 1) IT SHOULD BE EXEMPTED TO SENIOR CITIZENS ABOVE AGE 60 YRS. 2) LIKE INCOME TAX SLABS OF EXEMPTED INCOME OF INDIVIDUALS SERVICE TAX SHOULD NOT BE CHARGED ON COMMISSION INCOME FROM MF AMCS UP TO RS.250000/-

It is really irrational proposal to impose service tax on commission earned by IFAs while they are already paying Income Tax wherever it is applicable. How one income can be taxes twice? It appears that some misleading notion has been formed in Ministry of Finance. Service tax on Distributors'' commission is irrational and should be withdrwan.

After stopping upfront commission in August - 2009, putting maximum 1% band & now Imposition of Service Tax on Mutual Fund distributors is nothing but categorically initiate the investors to move to Direct plan & abolish the MF Distributorship. New entrants shall be discouraged with this move. This is also double Taxation.

It is injustice.

In one side govt n SEBI inciating awareness of mutual fund by doing this we are the IFA helping them in its noble cause when the time come to prove ourself our honrable FM wants to steal the show and want to glorified DIRECT entity We are the only personal who educate our client make their financial planning then recommend their goal base fund Across the AMC. All banks n finace institution are running their target or commission I have seen they are just selling high commission base fund besides to give incentive for making client portfolio they are snatching our bread This is ridiculous and injustice not only for IFA but the economical health of nation

I completely agree with this. As we are mot the end users of the mf product Either AMC which are collecting the money from investors or investors who are taking services of the AMC to invest their money. Thecservice tax should br imposed to those advisors who are charging fee only modal from investors .

I AM ALSO AGREE WITH MR. BHARAT WHY SHOULD WE PAY DOUBLE TAX

my friend mr bharat bhushan , iam with you , i respect your voice ,hence service tax should not to imposed to I F A ,s thanks jagish krishan

the Budget proposal on Service Tax and other IT Exemption clearly shows Govt initiative about switching Direct Business of All Financial Products.Earler AMFI & SEBI restricted Commission on Mutual Funds to 1% and also Launching Direct Plan. The Various Exemption given to NPS which clearly indicate elimination of Agents for Selling any Financial Products Step By Step.The big Bank selling the Financial Products are no where to worry only Individual agents should think about it

I feel that if we are providing services to Investor than we should charge the fee and on that fee we may pay service tax not on the commission we got from AMC

I am unable to know that how an amfi registered broker is seperate from post office agent, LIC agent, General Insurance agent so he has to pay service tax on his commission earned and that too without any service tax limit. In my knowledge no person has to pay service tax if his earnig is not more than 10 lac but an mutual fund agent has to pay service tax even if he earns Rs 1 lac.

agreed with above views.

mutual fund ifa is main worker who teach to invester that he invest in mf gain maximum return with mimimise risk, many type of services provided by ifa to invester. so i dont know any teacher or worker give the service tax on our services in the world

BThere is some confusion over rate of Service Tax. I think It is 16% (including 2% additional charge for Swaccha Bharat Abhiyan). Kindly clarify

All IFAs in MF Distribution business is still struggling to cope with the change, SEBI brought in the the form of " DIrect ". NOw there is an another blow from hon''ble FM by way of Service Tax. SEBI wants to have a finance professional to be in the MF Distribution business. n does not also wish to allow IFAs to make decent earning. (not more than 1% or so). On top of it, Service Tax on that avg 1%. is also levied. This is surely drive out few thousand IFAs from MF Industry and will hamper the growth of MF Industry.

I agree with Mr.Bharat Buhasn Arya. I can not understand why will be effected by double Tax, Service Tax and Tn come Tax

very sad for us. now real work start for our organisation. I am ready to help financially or by any way to protest this law. We all should unite at this opporutunity then we will survive. Where are our leaders?

yes, bharat bhushan is right, I AGREE WITH YOU.

I AGREE YOU

Our taxation will increase by additional 14 %.if some personal tax is in 10% limit it will move to 24 %.Request all to write to yhe Pm in pmindia.gov.in and highlight the issue. Every ifa needs to write. AMC also will have to put up to the finance ministry

In case of fee charged by the distributor, as the service given by Mutual Fund Distributors is removed from the negative list from the next Financial Year onward in the budget, he should pay the service tax on the fee amount (if it is above the threshold limit) on his own to the tax department.

If commission paid is from the pockets of fund houses (upfront commissions paid in a majority of the cases as in the case of upfront commissions of closed ended funds, tax savers etc., come under this category) then the question of service tax comes in to play. In those cases too as the distributor gives service to the fund house and as service tax is a pass through mechanism, service tax should be borne by the fund houses.

The service tax is already being deducted from NAV through expense ratio. As service tax can not be charged twice for the same service, the question of charging service tax on the income derived from expense ratio (commissions paid to the distributor - both upfront and trail from expense ratio) doesn’t arise.

Matter should taken up to Finance Minister.

Dear Team, Good days are back again. What The hell!!!!!!!!!!!!!!!!!!!!!! First The comissions paid by the AMC are very low. On Rs 1000 of investment Rs 5 is paid to the ifa .Now the service tax burden on IFAs will create the hinderance in their work. I agree with bharat bhushan that services are given by us to the clients not by the amc. IFAs are not demanding any service charges Dear FM, Plzzz thin for the IFAs also. We too are human beings..................

Earlier, we were subjected to Service Tax. After the reasons behind it''s non- applicability were explained to the previous government, we were spared from the burden of this illogical tax. Service tax is to be recovered from the end users. When most of us distributors can not even recover our fee from the investor, how would we recover service tax?! A distributor falling in the tax bracket of 20%, will now end up coughing 34%! God save the one in the tax slab of 30%. He will now become country''s top tax payer! Bure din aa gaye. :(

Please speak to the Finance Minister and get the matter resolved.

I THINK IF GOVT RECOVER SERVICE TAX FROM MUTUAL FUND ADVISER ,THEN NO INCOME TAX SHOULD BE RECOVER FROM MUTUAL FUND ADVISER.