The country’s general budget 2021-22 will be presented on 1 February. The condition of Indian economy is not very good due to Corona. The Indian economy is currently struggling on many levels. In such a situation, people are sitting in the hope that the government will provide special help to the people through this new general budget. At the same time, the government is engaged in arranging money to spend on various schemes. According to media reports, the government may introduce Corona cess in the budget.
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What is cess charge
Cess charge is taken from people for a particular purpose. The government cannot invest in any other work for this cess charge. At present, the government is charging 4 percent cess. This cess charge is being taken for health and education. In the 2018 budget, the then Finance Minister Arun Jaitley put this cess charge in front of the people during the budget. Then it was 3 percent, 2 percent for primary education and 1 percent for senior secondary.
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How is cess charged
The government adopts a very simple way of collecting cess charge. After getting tax exemption, 4% cess charge is added to the amount of tax you have to pay. For example, if someone had to pay a tax of Rs 50,000, after getting all the exemptions, then that person would pay 4% of Rs 50,000 ie Rs 2000 and pay Rs 52,000. If one percent and cess charge increases, then the same amount will be 52, 500.