Cess: Cess applies to everyone who pays income tax, meaning even lower and middle-income taxpayers contribute to specific welfare programmes. For example, if your income tax liability is Rs 1 lakh ...

Depending on income earned during a financial year, income tax is levied on the taxable income. The rate of income tax for individuals ranges between 5% and 30%, depending on the amount of income.

It is deductible from income-tax before calculating education cess. The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less,” according to Income Tax website.

The divisible pool of taxes has shrunk, and the share of southern States in it has also dwindled further. May 13, 2025 e-Paper. LOGIN Account. eBooks Subscribe GIFT FRONT PAGE. ... Usage of cess.

Kolkata ITAT dismisses revenue's appeal against education cess deduction for AVR Storage Tank Terminals. Previous ITAT order set aside the CIT(A) decision, rendering current appeal ...

The compensation cess currently being collected under the Goods and Services Tax (GST) framework may either be absorbed into ...

In the GST regime, compensation cess at varied rates is levied on luxury, sin and demerit goods over and above the 28 per cent tax. NEW DELHI: The group of ministers (GoM) on GST compensation cess ...