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Tax Reduction for Corporates
September 21 , 2019
1923 days
1242
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- Finance Minister Nirmala Sitharaman announced big cuts in corporate tax rates.
- She has announced a ₹1.45 lakh crore stimulus aimed at reviving private investment and lifting growth from a six-year low.
|
Type of Company |
Rate |
|
Basic corporate rate tax for domestic companies that don't avail any exemption/incentive. |
Reduced to 22% from 30%. Effective Tax Rate: 25.17% |
|
Domestic companies incorporated on or after 1st October 2019 making fresh investment in manufacturing. |
Reduced to 15% from 25% |
- Minimum Alternate Tax or MAT reduced to 15% from 18%.
- Surcharge on Capital Gains is withdrawn.
- Total revenue foregone for the reduction in corporate tax rate and other relief are estimated to be at 1.45 lakh crore rupees.
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