What is the rate of health and education cess levied on the tax of a company in India?
ATwo percent
BFour percent
CSix percent
DEight percent
Answer & Solution
Correct answer: B. Four percent
Along with surcharge, a four-percent health-and-education cess is levied on the flat tax rate.
Keep practising Taxation of Companies
Browse all Taxation of Companies questions for CA Final, or explore more Taxation topics.
Related questions
Which section imposes a late fee for delay in filing the return?Under-reported income attracts a penalty of what share of tax under section 270A?A defective return must be rectified within how many days of notification?A revised return to correct an omission is filed under which section?Which section governs a belated income-tax return?Cumulatively, what share of advance tax must be paid by 15 December?Income tax is generally computed as tax rate multiplied by what?Which body administers the Income Tax Department in India?