Definition of 'Education Cess' ?

Definition of 'Education Cess'


Definition: Education cess is an additional levy on the basic tax liability.

Description: Governments resort to imposition of cess for meeting specific expenditure. For instance, both corporate and individual income is at present subject to an education cess of 2%.

The government had also imposed another 1% cess in FY 08 to finance secondary and higher education. So, the total education cess currently stands at 3%

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