« 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 «  Tatas are the largest tax-paying business house... CAs to help Cong get the numbers right... » Parliament can levy service tax on CAs, architects: SC August, 23rd 2007 The Supreme Court has held that Parliament is competent to levy service tax on chartered accountants, cost accountants and architects. "We hold that Parliament has legislative competence to levy service tax by way of impugned Finance Acts of 1994 and 1998 under Entry 97 of List I on chartered accountants, cost accountants and architects," a bench headed by Justice S H Kapadia said while dismissing an appeal filed by All India Federation of Tax Practitioners. The apex court said service tax was a value-added tax (VAT), which in turn was both a general tax as well as a destination-based consumption tax levied on services provided within the country. "Service tax is VAT. Just as excise duty is a tax on value addition on goods, service tax is on value addition by rendition of services," the bench stated. The court classified services under two categories - property-based services and performance-based services. It said the first category would cover service providers such as architects, interior designers, real estate agents and construction services. The second category would cover stock brokers, chartered accountants, cost accountants, security agencies, tour operators, event managers and travel agents among others.