Hi everyone,
We know for a fact that there is education Cess on Service tax,Excise,customs.
But why is it that there is no education Cess on wealth tax??
Could someone please tell the exact reason??
Thank you!!
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Why is there no education Cess on Wealth Tax?
Replies (2)
Because Wealth tax act does not prescribe levy of the same.
Same is the case with Sales Tax (VAT)
hi guys i thnk i found the exact reason......it is becoz the finance act 2004 introduced e cess and specifically mentions tht it is applicable 2 IT,ED,Customs and ST....Wealth tax not included..........
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