« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately «  Sebi clarifies on PAN use... Salaried to shell out more in tax... » Large service tax payers will go online July, 21st 2006 The revenue department has taken a decision that service tax assesses who pay Rs 50 lakh or more will have to pay online from September.    As per the present norms, corporates have to pay service tax on a monthly basis while non-corporates have to pay the tax quarterly.    Officials said though the revenue department had provided the facility to pay the tax online last year, there were very few takers.    The e-payment of the tax will help us build a database and check on the number of the large tax-payers who are filing the tax. While the income tax department is able to verify the number of stop-filers, there is no database to verify the same in case of service tax, they said.    Service tax expert J K Mittal said the move would facilitate early disbursement of credit to the tax payers directly into their bank accounts and chances of errors would be greatly reduced.    Under the new system, a challan would be generated online in which each tax-payer would have to fill his registeration or code number.    The e-payment of the tax would also help in correct entry of data as very often the data such as service tax code numbers, issued to every registered service tax payer is sometimes wrongly entered or wrongly read.