Budget 2022: Clarification regarding treatment of cess and surcharge

Last updated: 02 February 2022 Follow on Google News

1. Section 40 of the Act specifies the amounts which shall not be deducted in computing the income chargeable under the head Profits and gains of business or profession. Sub-clause (ii) of clause (a) of section 40 of the Act provides that any sum paid on account of any rate or tax levied on the prof

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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