« 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 «  Notification of accounting standards by the central... Finmin in no hurry to notify CTT... » Industry chambers liable to pay service tax: CBEC May, 17th 2008 Industry and business chambers are liable to pay service tax. The Central Board of Excise and Customs on Thursday clarified that the trade associations falls within the scope for clubs and association services.  The clarification comes close on the heels of Confederation of Indian Industries (CII) getting a show cause notice from the service tax department for Rs 32 71 crore. The board said that the services provided by these associations are not of charitable, religious or political in nature. They collect membership fees and other charges from their members and they work for the interest of trade and industries. Therefore, they do not have objectives which could be categorized as public service. Accordingly, they do not fall within the scope of the excluded categories, it said. Services provided by the trade associations to their own members are not in the nature of self service by virtue of the Explanation under Section 65 of the Finance Act, 1994 which clearly states that the taxable services include any service provided by any unincorporated association or body of person to a member thereof, for cash deferred payment or any other valuable consideration.