Ans: Hon’ble Rajasthan High Court in case of Chambal Fertilisers and Chemicals Limited vs. JCIT (ITA No. 52/2018 order dated […]

Education Cess and Higher and Secondary Education Cess on Income Tax paid on Profit of business or profession, not to be disallowed u/s 40(a)(ii) of Income Tax Act, 1961. Q. Whether Education Cess and Higher and Secondary Education Cess on Income Tax are liable for deduction in computing income chargeable under head of ‘profits and gains of business or profession’ ?