LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
LAW Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

anand das (service)     25 August 2010

education cess act

Is there any act enacted by Government to impose education cess and Higher and Secondary Education cess?

If not can you give reference to this ?

Thanks in advance



Learning

 4 Replies

SANJAY JOIL (LAW STUDENT)     27 August 2010

Income Tax Act 1961 deals itself deals with educational cess.  Refer any book on Income Tax, you can see it immediately following the  tax-slabs.

 

I have given here in below  extracts of  Finance Act of Last year.:

 

Section 192 of the Income-tax Act, 1961 - Deduction of tax at source - Salary - Income-tax deduction from salaries during the financial year 2009-10

CIRCULAR NO. 1/2010 [F. NO. 275/192/2009 IT(B)], DATED 11-1-2010

 

Reference is invited to Circular No. 8/2007, dated 5-12-2007 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 2008-09, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2009-10 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income-tax Department -www.incometaxindia.gov.in.

Finance Act, 2009

2. As per the Finance Act, 2009, income-tax is required to be deducted under section 192 of the Income-tax Act, 1961 from income chargeable under the head “Salaries” for the financial year 2009-10 (i.e., assessment year 2010-11) at the following rates :—

RATES OF INCOME-TAX

A. Normal Rates of tax :—

1.

Where the total income does not exceed Rs. 1,60,000.

 

Nil

2.

Where the total income exceeds Rs. 1,60,000 but does not exceed Rs. 3,00,000

 

10 per cent of the amount by which the total income exceeds Rs. 1,60,000

3.

Where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000

 

Rs. 14,000 plus 20 per cent of the amount by which the total income exceeds Rs. 3,00,000

4.

Where the total income exceeds Rs. 5,00,000

 

Rs. 54,000 plus 30 per cent of the amount by which the total income exceeds Rs. 5,00,000

B. Rates of tax for a woman, resident in India and below sixty-five years of age at any time during the financial year :—

1.

Where the total income does not exceed Rs. 1,90,000

 

 

Nil

2.

Where the total income exceeds Rs. 1,90,000 but does not exceed Rs. 3,00,000

 

 

10 per cent of the amount by which the total income exceeds Rs. 1,90,000

3.

Where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000

 

 

Rs. 11,000 plus 20 per cent of the amount by which the total income exceeds Rs. 3,00,000

4.

Where the total income exceeds Rs. 5,00,000

 

 

Rs. 51,000 plus 30 per cent of the amount by which the total income exceeds Rs. 5,00,000

C. Rates of tax for an individual, resident in India and of the age of sixty-five years or more at any time during the financial year :—

1.

Where the total income does not exceed Rs. 2,40,000

 

 

Nil

2.

Where the total income exceeds Rs. 2,40,000 but does not exceed Rs. 3,00,000

 

 

10 per cent of the amount by which the total income exceeds Rs. 2,40,000

3.

Where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000

 

 

Rs. 6,000 plus 20 per cent of the amount by which the total income exceeds Rs. 3,00,000

4.

Where the total income exceeds Rs. 5,00,000

 

 

Rs. 46,000 plus 30 per cent of the amount by which the total income exceeds Rs. 5,00,000

Surcharge on Income tax :

There will be no surcharge on income-tax payments by individual taxpayers during financial year 2009-10 (assessment year 2010-11).

Education Cess on Income tax :

The amount of income-tax shall be further increased by an additional surcharge (Education Cess on Income-tax) at the rate of two per cent of the income-tax.

Additional surcharge on Income-tax (Secondary and Higher Education Cess on Income-tax) :

From financial year 2007-08 onwards, an additional surcharge is chargeable at the rate of one per cent of income-tax (not including the Education Cess on income-tax).

Education Cess, and Secondary and Higher Education Cess are payable by both resident and non-resident assessees.


1 Like

anand das (service)     28 August 2010

thanks Sanjay.

Sumit Singhal (student)     03 September 2010

What is Tds full meaning & summary

Sumit Singhal (student)     03 September 2010

what is vat & applicable on item detail. 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion Unreplied Threads



Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query