Corporate Tax rate slashed for domestic companies and new manufacturing firms: Sitharaman

A new provision has been inserted in the Income Tax Act with effect from fiscal year 2019-20, which allows any domestic company an option to pay income tax at the rate of 22%(subject to condition). Moreover, local companies incorporated after October 2019 will pay tax at 15%. To promote growth and investments in the country, … Continue reading Corporate Tax rate slashed for domestic companies and new manufacturing firms: Sitharaman