Question

how much education cess at 2% will be levied on payable income tax Rs.1,50,000 ?​

Answer 1

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Tax is further subject to Education Cess of 2% on Income Tax and Secondary and Higher Education Cess of 1%. Further, Rebate under Section 87A is available for assesse having a taxable income below Rs. 5, 00,000/-. The amount of rebate is 100% of Income Tax or Rs.5, 000/-, whichever is lower.

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Answer 2

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