« 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 «  Chidambaram visiting Germany next month... MNCs owe government Rs 8,020-cr in taxes... » Punjab's tax base shrinking: Minister August, 25th 2007 Claiming that Punjab's tax base was "shrinking", Cooperative Minister Capt Kanwaljit Singh on Friday strongly advocated cutting government expenditure. "The tax collection through VAT in Punjab is a meagre five per cent compared to 25 to 30 per cent collected in other states", he told reporters here. "The state government's VAT collection from agriculture was 20 per cent. However, in the recent times, there had been a decline of 20 per cent in growth of paddy," he added. Expressing concern over the fiscal position of the state, Kanwaljit Singh - who was state's finance minister during the earlier regime of Badal - said, "State's tax base is shrinking". "Our industrial growth is negative...there is no big industry in the state," he said. VAT and other taxes in the state need to be rationalised, he said. However, he stressed that there was no need to burden the people of the state by levying fresh taxes. Meanwhile, Punjab's Industry minister Manoranjan Kalia suggested low rate of tax and stricter recovery methods. "The need is to give relief to tax payers and increase the volume of recovery," he added. Both the ministers were speaking at two separate functions held at same venue.