« 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 «  Finmin denies sops to Fab City semiconductor project... IT pays to be a working woman... » Service tax generation to touch Rs 50k cr this fiscal September, 25th 2006 Increased rate and a larger number of services under the tax net will push the revenue generation, on account of services tax, to Rs 50,000 crore during the current fiscal against the targeted figure of Rs 40,000 crore, according to industry body Assocham. The services sector has registered a substantial growth rate in the last couple of years and the trend will not only continue but also yield high revenue collections for the Government, Assocham president Anil K Agarwal said in a statement. In 05-06, the government earned a revenue of Rs 23,000 crore and fixed a target of Rs 34,500 crore for 06-07 at the time of the budget presented for service tax collection. This has been revised by finance ministry officials to Rs 40,000 crore as they exuded confidence that the way services are being expanded, the target for service tax collections should be set higher, the chamber said. The industry body has also said the revenue generation from the service tax will touch a new high of Rs one lakh crore by 07-08. Assocham also said the number of assesses would also increase from the present 9 lakh to 25 lakh by next fiscal. Search and seizures off late are being intensified by the officials of the finance ministry, which will naturally lead to enhancement of the service tax, it said.