Disallowance of education cess on income tax and dividend ...

Income Tax

June 5, 2023

Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022 disallowance made by the Ld. CIT(A) on account of education cess on income tax and dividend distribution tax is not sustainable in the eyes of law. So the deletion of education cess on income tax and dividend distribution tax made by the Ld. CIT(A) is not sustainable in the eyes of law and disallowance made by the AO is ordered to be restored. - AT

View Source

← Previous Next →

Disallowance of education cess on income tax and dividend ...

Income Tax

June 5, 2023

You may also like:

Allowable deduction - Education Cess (EC) and Secondary & Higher Education Cess (SHEC) on income-tax - It is settled that, education cess on income-tax, dividend...

Addition u/s 40(a)(ii) - Allowable deduction in the year of its payment - Education Cess and Higher and Secondary Education Cess - Even, though, “cess” may be collected...

Allowability educational cess paid on income tax as expenses - since education Cess is not tax this is an allowable expenditure as per provision of section 40(a)(ii)

Allowable deduction while computing the taxable income - education cess and secondary & higher education cess paid on the Income Tax and Surcharge - education Cess,...

TDS liability on education cess and higher education cess - assessee’s claim of deduction on account of education cess (EC) & secondary and higher education cess (SHEC)...

Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

Addition on account of short deposit of Dividend Distribution Tax (DDT) - we do not find mention of any of the provisions of the income tax act which provides that short...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Rate of tax payable on Dividend Distribution Tax (DDT) - Distribution of dividends to its share holders (Germany) (Non-residents) - the additional income tax payable by...

Disallowance u/s 40(a)(ii) - though cess may be collected as part of income tax but that does not render such cess either rate or tax which cannot be deducted in terms...

Refund of excess dividend distribution tax - it is not in dispute that the wholly owned subsidiary company had duly remitted the dividend distribution tax on the interim...

Refund of excess Dividend Distribution Tax - additional income tax payable by the domestic company shall be at the rate mentioned in section 115-O of the Act and not at...

Allowability of Education cess paid - in the Finance Bill, 2022 introduced in the Parliament an amendment to Section 40 was proposed by insertion of Explanation 3 with...

Disallowance on account of interest paid on delayed payment of TDS - as the tax deducted at source (TDS) is not in the nature of the income tax which is required to be...

Disallowance of credit of surcharge and education cess - MAT u/s 115JAA - if only income tax is paid under the provisions of section 115JB it is natural that tax credit...

Quick Updates: