How does the Health and Education Cess impact taxpayers in India?
The Health and Education Cess, levied at 4% on income tax, directly impacts taxpayers by increasing their tax liability. Introduced in 2018, Health and Education Cess funds essential healthcare and education programs, such as medical facilities and school infrastructure. For example, an individual with a taxable income of INR 10 lakh pays an additional cess on their tax amount, supporting public welfare. Taxpayers must include this cess in their calculations for accurate filings. By contributing to societal growth, the cess ensures better access to education and healthcare, benefiting communities while requiring taxpayers to plan finances carefully.
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