« 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 «  State Bank leads tax remittance chart again... MNCs may get to sign advance pricing pacts... » Electronic tax payment from October for high value payers September, 23rd 2006 High value service tax payers will have to compulsorily file their tax in the electronic format, from October 1. In a notification issued today, the government has made electronic mode of payment of service tax obligatory for those, who have paid Rs 50 lakh or more as service tax during the last financial year or whose payment of service tax has exceeded Rs 50 lakh during the current financial year. The notification says this is in consonance with the governments policy to increasingly use information technology to improve the operational efficiency of collection of taxes and to reduce the transaction cost. Electronic payment of service tax is a simple, transparent, efficient and economic way of payment of tax. This will reduce human interface and compliance cost, the notification says. Currently, 24 designated banks have been enabled for electronic payment. Field officers and banks have been advised to contact the service tax assessees and extend all necessary assistance to make the transition smooth and successful. Service Tax Commissionerates have also been organising Interactive Programmes, for the benefit of the assessees, in co-ordination with the bankers and the officers of the principal chief controller of accounts. The government has also said other service tax assessees who are below the threshold limit are also being encouraged to make payment of service tax electronically.