'Health and Education Cess' shall be levied at the rate of :
Health and Education Cess is levied at a uniform rate of 4% on the amount of income-tax (including surcharge, where applicable) for all categories of taxpayers. It was…
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'Health and Education Cess' shall be levied at the rate of :
Answer and explanation
Correct answer D
Health and Education Cess is levied at a uniform rate of 4% on the amount of income-tax (including surcharge, where applicable) for all categories of taxpayers. It was introduced by the Finance Act, 2018 (from assessment year 2019-20) in place of the earlier 2% Education Cess and 1% Secondary and Higher Education Cess.
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UGC NET Commerce