Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2010
Why there is no eduction cess and shec on wealth tax as it is levy on i.tax as both are direct taxes
14 September 2010
As a special measure, to give boost to primary education in the country, Education cess of two per cent (later in 2007 1% for higher education cess was further added) was levied on select taxes, i.e. income tax, corporation tax, excise, customs duties and service tax.
Please note that education cess has nothing to do with direct taxes aspect and that the same was levied as a special measure on select taxes, as notified by the Government in this regard.
Please note that education cess has nothing to do with direct taxes aspect and that the same was levied as a special measure on select taxes, as notified by the Government in this regard.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
