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Education cess & Secondary and Higher EC introduction?

Muthu (Graduate of B.com Pursuing CS Professional Programme & CA IPCC) (120 Points)

06 September 2011

Friends,

Which was the first assessment year in which "Education cess" was levied on tax payable(under IT ACT 1961) on individuals. ?

And Which was the first assessment year in which "Secondary and Higher Education cess" was levied on tax payable (under IT act 1961) on individuals. ?

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3 Replies

Nitin Garg (CA FINAL Article Trainee B.com) (171 Points)
Replied 06 September 2011

Education Cess - Finance Act, 2004

Secondary and Higher Education cess : -Finance Act, 2007

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Muthu (Graduate of B.com Pursuing CS Professional Programme & CA IPCC) (120 Points)
Replied 06 September 2011

Which means EC is leviable from AY 2005-06 and SHEC from AY 2008-09. Am i right??

KevinDavids (Writer) (22 Points)
Replied 31 October 2018

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