Education Cess Deduction Allowed as Business Expense Due to Omission in Section 40(a)(ii) of Income Tax Act.

Education Cess Deduction Allowed as Business Expense Due to Omission in Section 40(a)(ii) of Income Tax Act. https://www.taxtmi.com/highlights?id=59377 Deduction of education cess - allowable business expenditure - the effect of the omission of the words "cess" from section 40(a)(ii) of the Act is that, only taxes paid are to be disallowed in the assessment for the assessment years 1962-63 onwards. - Deduction cannot be denied - AT en-us Wed, 25 Aug 2021 12:34:19 +0530 Wed, 25 Aug 2021 12:34:19 +0530 TaxTMI RSS Generator Education Cess Deduction Allowed as Business Expense Due to Omission in Section 40(a)(ii) of Income Tax Act. https://www.taxtmi.com/highlights?id=59377 Deduction of education cess - allowable business expenditure - the effect of the omission of the words "cess" from section 40(a)(ii) of the Act is that, only taxes paid are to be disallowed in the assessment for the assessment years 1962-63 onwards. - Deduction cannot be denied - AT Highlights Income Tax Wed, 25 Aug 2021 12:34:19 +0530 https://www.taxtmi.com/highlights?id=59377