« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Service tax probe not to hit ad agencies, say clients... Revenue dept denies I-T holiday for strategic investment... » Govt to check double taxation November, 30th 2006 The revenue department is examining the service tax on industry and service providers, particularly in the telecom sector, to ensure that there is no incidence of double taxation, an official of the department said.    The finance ministry would shortly come out with an announcement to this effect by amending any circular that is capable of double interpretation to ensure that services are taxed only once and not twice," P C Jha, Member, excise and service tax, Central Board of Excise and Customs said at a seminar organised by Assocham here.    Jha pointed out that while the growth in the telecom sector was 30 per cent, the service tax collection was a meagre 9 per cent.    "I have issued instructions to the department concerned to look into the issue as the ratio between the growth of telecom sector and that of its service collection is not commensurate," he said.    The finance ministry intends to collect a total revenue of Rs 4,50,000 crore through both direct and indirect taxation in which the share of customs would be around Rs 80,000 crore and that of excise Rs 1,80,000 crore. Through service tax imposition, the finance ministry wants to generate a revenue of Rs 40,000 crore while Rs 2,10,000 crore worth of revenue would be generated through the imposition of direct taxes by March 31, 2007" Jha said.    In order to collect the due taxation, the finance ministry has decided to take control of those manufacturing units that are evading excise, customs and other levies, he said, adding that the government would take serious action against defaulters.    Chief Commissioner of Central Excise, C G Lall said the Delhi government was still falling short of its service tax collection target by 58 per cent.    She said that large tax units put up in different zones of Delhi for collecting service tax were likely to be dismantled as service tax payers were not coming forward to pay the taxes.    "Lot of manipulation has been going on. CENVAT credit is being availed on forged documents. The Delhi government is geared up to take stringent action against those who violate payment of service tax to the government," she added.