« Top Headlines » Open DEMAT Account in 24 hrs  ITR filing deadline extension now demanded by this Tax Bar Association due to many issues including technical glitches with ITR portal  GST Rule Changes for FY 2025 26  Income tax return filing 2025: Five ITR mistakes that can trigger an income tax notice in 2025  ITR filing What is updated income tax return and ITR U Who can file & what you can t change - top points to know  Shifted to new tax regime? Here are 5 investments you shouldn't drop  Auditing and Assurance Standards Board Expert Panel for addressing queries related to Statutory Audit pertaining to auditing aspects. «  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.