Nirmala Sitharaman
Health and education cess not allowed as business expenditure: Nirmala Sitharaman
‘Health and Education Cess’ is not allowed as business expenditure, clarified by Nirmala Sitharaman, Union Minister of Finance while presenting the Union Budget in the Parliament on Tuesday.
The Union Finance Minister stated that the income-tax is not an allowable expenditure for computation of business income.
This includes tax as well as surcharges.
The ‘Health and Education Cess’ is imposed as an additional surcharge on the taxpayer for funding specific government welfare programs, she explained.
Noting that some courts have allowed ‘Health and Education Cess’ as business expenditure, which is against the legislative intent, the Union Finance Minister reiterated that any surcharge or cess on income and profits is not allowable as business expenditure.
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