« Top Headlines » Open DEMAT Account in 24 hrs  Tax planning for 2025: How to maximise your savings before March 31 deadline  New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha  5 major changes in the last 6 months every taxpayer should know!  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025 «  Sebi clarifies on PAN use... Salaried to shell out more in tax... » Large service tax payers will go online July, 21st 2006 The revenue department has taken a decision that service tax assesses who pay Rs 50 lakh or more will have to pay online from September.    As per the present norms, corporates have to pay service tax on a monthly basis while non-corporates have to pay the tax quarterly.    Officials said though the revenue department had provided the facility to pay the tax online last year, there were very few takers.    The e-payment of the tax will help us build a database and check on the number of the large tax-payers who are filing the tax. While the income tax department is able to verify the number of stop-filers, there is no database to verify the same in case of service tax, they said.    Service tax expert J K Mittal said the move would facilitate early disbursement of credit to the tax payers directly into their bank accounts and chances of errors would be greatly reduced.    Under the new system, a challan would be generated online in which each tax-payer would have to fill his registeration or code number.    The e-payment of the tax would also help in correct entry of data as very often the data such as service tax code numbers, issued to every registered service tax payer is sometimes wrongly entered or wrongly read.