Hi Abdus,
In addition to Warren's response, the reason why this is not possible is due to the hierarchy of the application as Project > Issue > Sub-task
You can also have multiples stories linked to an epic and have sub-tasks on stories, but this is more like an Agile concept, so if you want to have additional information about that, I'd recommend you to take a look at the article below:
No, that is not possible, as far as I know
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No. Levels are limited to 2 (issues and sub-tasks).
BUT!
There is an add-on called Structure which was developed to overcomes this the two-level-only design decision (limitation). It is "wildly popular", so may be useful for you, too.
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