How much secondary and higher
education cess at the t 1%
levied on income tax of
Rs 50,0001
A) 5000
B) 500
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Answer:
Accordingly, 'Secondary and Higher Education cess' was discontinued and 'Health and Education Cess' at 4% on tax (including surcharge) was introduced. Finance minister estimated an additional collection of Rs 11,000 crores with an increase of cess by 1%.
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