The Government is committed to reducing the corporate tax rates. In the latest Budget the benefit of the reduced rate of 25 per cent corporate tax was extended to companies with turnover up to ₹250 crore in FY2016-17.
About seven lakh companies filed their returns. Of these, about 7,000 declared incomes and showed turnover above ₹250 crore. These 7,000 will remain in the 30 per cent tax slab. The balance 99 per cent of the companies will be taxed at 25 per cent. The measure is expected to leave these companies with higher investible surplus which in turn will create […]
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