Health and Education Cess
Definition
A cess levied as a percentage on the income tax (plus surcharge) payable in India, earmarked for health and education spending. It applies on top of the computed tax for most taxpayers.
Related Terms in India GST
Chapter VI-A Deductions
The set of income-tax deductions in India grouped under Chapter VI-A — including Sections 80C, 80D, 80G and others — that reduce gross total income, chiefly under the old regime.
Section 80CCD (NPS)
A deduction for contributions to India's National Pension System, including an additional deduction over the Section 80C ceiling and a separate deduction for employer contributions, subject to limits.
Section 24(b) — Home Loan Interest
A deduction for interest paid on a housing loan against income from house property in India, subject to a cap for a self-occupied property under the old regime.
TDS on Property (Section 194-IA)
A requirement for a buyer to deduct tax at source on the purchase of immovable property in India above a value threshold, depositing it against the seller's PAN.
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