« Top Headlines » Open DEMAT Account in 24 hrs  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR  ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief  ITAT Delhi Quashes Tax Notice on AMU PG Student’s ?18.34 Lakh Stipend, Declares It Tax-Free Under Section 10(16)  Advance tax deadline September 15: What happens if you missed the previous instalment payment?  How much gold jewellery can you keep at home? Nagpur ITAT explains rules on ownership, gifts, taxability  ?5.31 lakh TDS refund allowed by ITAT Delhi: Why absence of an original ITR did not block the taxpayer  Missed the ITR Filing Deadline? How to Claim Your Income Tax Refund and Correct Mistakes Before December 31, 2026  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  Income-Tax Department Moves to Bring Greater Certainty to International Tax Cases «  No tax sops for port-turned SEZs... Efforts to simplify service tax... » Service tax rules to converge from June May, 31st 2007 The revenue department is expected to release two circulars mentioning details of all 100 services under the service tax net and related procedures in a simplified manner by mid-June.    The comprehensive circulars will replace all the present circulars and will enable tax-payers to access required information in a detailed and simplified manner, Central Board of Excise and Customs (CBEC) member PC Jha said at an Assocham seminar today.    One circular will describe the scope of services while the other will explain the procedures. Service Tax Commissioner Gautam Bhattacharya said the circulars would be based on the recommendations of the Rastogi Committee.    The new circulars are in final stages and will be issued by mid-June after clearance by Finance Minister P Chidambaram, he said. The CBEC has already withdrawn 48 circulars that have no relevance. Despite this, there are 120-130 circulars.    Jha said that in future, all circulars would be issued only by the CBEC, unlike in the past when the Director General Service Tax also used to came out with circulars.    Bhattacharya said seven new services included in the service tax net from June 1 this year were expected to fetch Rs 8,000-9,000 crore this fiscal.