Welcoming the government’s initiative to revive demand in the automobile industry, Maruti Suzuki India on Wednesday announced to proactively and voluntarily share the benefits of corporate tax reduction with its customers.
Media has touted the Corporate Tax Rate Cut by FM Nirmala Sitharaman as monumental, but former Finance Minister P Chidambaram did the same on two separate occasions. Will the move revive the economy?
Infosys, Tata Consultancy Services (TCS) and HCL Technologies were among the rare set of stocks on the benchmark Nifty that lost on a day Indian equities logged their biggest gains.
The government’s decision to reduce the base corporate tax rate to 22 per cent from 30 per cent as part of stimulus measures to revive slowing economic growth is credit positive for companies because it will enable them to generate higher post-tax incomes, Moody’s Investors Service said on Saturday.
While addressing a press conference Union Finance Minister Nirmala Sitharaman proposed to slash the corporate tax rate for domestic companies. To promote growth, a new provision has been inserted in the income tax act with effect from fiscal year 2019-20.
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…