Health and Education Cess rate is:
A4% on income-tax plus surcharge (per relevant Section)
B3% on income-tax only (per relevant Section)
C2% on total income
D1% on income-tax only
Answer & Solution
Correct answer: A. 4% on income-tax plus surcharge (per relevant Section)
1. Health and Education Cess was introduced from AY 2019-20.
2. Cess is at 4% on the sum of income-tax and surcharge.
3. Applies to all assessees regardless of total income.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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