my question is that wether education cess is part of income tax.
gaurav behal
(CA-IPCC)
(217 Points)
Replied 08 October 2010
no, education cess in not part of income tax but it is calculated on net income tax liability.
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 08 October 2010
Dear My Friend,
Education Cess is Not a Income Tax Though Payable as Per Finance Act.
Even Though It is Mentioned in Finance Act 2006 as Additional Surcharge.
The Same Can't Be Disallowed Under Section 40aii.
Education Cess is levied on Income Tax Not on Profit or Gains.
It is A Separate Levy as Separate Rows & Columns are Provided in Challan too.
From Mine Side, Education Cess is Allowable Expenditure.
& This Can't Be Disallowed.
Shyamal Mistry
(Final Student)
(282 Points)
Replied 08 October 2010
Then what about Surcharge? Is that allowable?
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 08 October 2010
No Surcharge is Not Allowable Expenditure. as it find place in first schedule (282 ITR 14 at page 67)
Education Cess is Not Income Tax But Surcharge is Income Tax.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
