What is the effective date for applying Higher Education cess in FY 2008-09 for the purpose of deductiong TDS and as a whole in Direct Tax and Indirect taxes
The additional cess of 1% is applicable for the Assessment Year 2008-09
and accordingly the TDS Rates need to be reworked considering the
Secondary and Higher Education Cess of 1%
Secondary and Higher Education Cess on Income Tax TDS, Service Tax etc shall be effected from 11-05-2007.
Total Cess hereafter shall be 3%
Consequently effective rate of service tax shall be 12.36% from 11-05-2007
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