What is the name given to the 4% cess announced in the Union Budget 2018-19 on 1 February 2018 that will replace the present 3% Education cess?
A. Health and Education Cess
B. MSP and Education cess
C. Health Cess
D. New India cess
Answer:A
What is the name given to the 4% cess announced in the Union Budget 2018-19 on 1 February 2018 that will replace the present 3% Education cess?
A. Health and Education Cess B. MSP and Education cess C. Health Cess D. New India cess
Explanation: The Union Government proposed to replace existing 3% education cess on personal income tax and corporation tax with a new 4% ‘Health and Education Cess’ to take care the education and health needs of poor and rural families, as was announced on 1 February 2018. At present, a 3% cess, consisting of 2% cess for primary education and 1% cess for secondary and higher education, is levied on personal income tax and corporation tax. .............Check More at INDIA GK" App: tinyurl.com/IndiaGK