« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  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.