To promote growth, just cut tax rates: Here is the likely impact of tax rates for corporates being slashed by the Modi govt
5 years, 3 months ago

To promote growth, just cut tax rates: Here is the likely impact of tax rates for corporates being slashed by the Modi govt

Op India  

Concerns on taxation front have persisted for a major part of the last two decades. In a joint article with Dr Surjit Bhalla for the Indian Express, we arrived at a figure of 22 per cent as the optimal level of the corporate tax rate. Recently, the Hon’ble minister lowered the tax rate to 22 per cent without the exemptions thereby taking India towards the optimal level that would maximize our corporate tax revenue. The fact that there’s a concessional rate of 15 per cent for new manufacturing companies is another move that is clearly looking at making India one of the most tax competitive countries in the region. The reduction in corporate tax rates without exemption is not less than a reform or at least a part of the larger direct tax reforms that will happen sometime over the next couple of years.

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History of this topic

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25
Trending News
1 day, 19 hours ago

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25

Live Mint  

New Delhi: Strong growth in tax collection from both personal and corporate income helped the Central government to collect ₹16.9 trillion in direct tax revenue so far this financial year after adjusting for tax refunds, official data showed on Monday. The net direct tax collection growth of 15.9% so far this year exceeds the 12.8% growth rate that finance minister …

Competitiveness, not protectionism, is the key to our future: Uday Kotak
1 week, 2 days ago

Competitiveness, not protectionism, is the key to our future: Uday Kotak

Live Mint  

Kotak, who is now 65, stepped down as the managing director of Kotak Mahindra Bank a year ago. In a career spanning nearly four decades, Kotak managed to build a financial conglomerate with total assets worth ₹6.2 trillion, spanning across banking, mutual funds, insurance, stock broking, car finance, investment banking, private equity, and alternative assets. While he avoids all questions …

Income tax rule: Ten key changes in 2024 that will impact your ITR filing in 2025
2 weeks, 1 day ago

Income tax rule: Ten key changes in 2024 that will impact your ITR filing in 2025

Live Mint  

Income tax rule: As 2024 ends, it's clear that India's financial sector has experienced significant income tax reforms. 1)New regime income tax slabs changed under the new tax regime The new tax regime's revised slabs offer taxpayers potential annual savings of ₹17,500. New regime income tax slab rates Up to ₹3 lakh - Nil ₹3-7 lakh - 5% ₹7-10 lakh …

Centre mulls income tax cut in 2025-26 Budget amid middle-class heat
2 weeks, 6 days ago

Centre mulls income tax cut in 2025-26 Budget amid middle-class heat

New Indian Express  

The Union government is reportedly considering a reduction in income tax for individuals earning up to Rs 15 lakhs, according to a media report. Notably, India’s income tax system features two regimes, offering taxpayers the choice between deductions and lower tax rates. Under OTR, the tax slabs for individuals below 60 years are as follows: income up to Rs 2.5 …

Inequality woes: Don’t dismiss Piketty’s advice for India on tax policy
3 weeks, 1 day ago

Inequality woes: Don’t dismiss Piketty’s advice for India on tax policy

Live Mint  

Speaking at an event recently, Thomas Piketty, author of Capital in the Twenty-First Century, recommended an ambitious plan for tax justice in India, asking the richest Indians who have gained the most from economic liberalization to part with some of their wealth accumulation to pay for higher investment in public services such as education and health. The very rich, in …

Net direct tax collections rise 16.5%
3 weeks, 6 days ago

Net direct tax collections rise 16.5%

The Hindu  

With a little over three months left in 2024-25, India’s net direct tax collections were up 16.5%, crossing ₹15.82 lakh crore by December 17, with non-corporate taxes leading the growth. Data shared by the Central Board of Direct Taxes on Wednesday showed that gross tax receipts had grown 20.3% so far this year to cross ₹19.21 lakh crore, with corporate …

How big corporates are choking middle class, hurting India growth story
4 weeks, 1 day ago

How big corporates are choking middle class, hurting India growth story

India Today  

Industrialists and corporates played a big role in building the India Story and shaping its emerging economy. "India grew at 5.4% in the July-September quarter and the consumption component has been seeing lower growth in the last four-five quarters," political analyst and commentator Amitabh Tiwari tells India Today Digital. Salary hike: average wages across six sectors Sector 2019 2020 2021 …

There’s a case for heavy taxes on royalties that MNC units pay their parents
1 month, 2 weeks ago

There’s a case for heavy taxes on royalties that MNC units pay their parents

Live Mint  

Even as revenue growth for companies in India has reduced its pace to a canter, royalty payments sent abroad by several Indian offshoots of multinational companies are galloping ahead. In fact, there is a strong case for raising the normal tax on royalty payments to the applicable corporate-tax rate. It’s hard to see why Hindustan Unilever Ltd would’ve paid its …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
1 month, 2 weeks ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate
Trending News
2 months ago

Income tax share from below ₹10 lakh group shrinks over 10 years, high earners dominate

Live Mint  

Data from the Income Tax Department reveals a shift in India’s tax landscape over the past decade, with the share of tax collected from individuals earning less than ₹10 lakh dropping from over 10% to 6.22%. Tax collection from this group has tripled, rising from ₹2.52 lakh crore in 2014 to ₹9.62 lakh crore in 2024, data showed. “Tax liability …

India is investing more in mutual fund SIPs, and paying more tax too
2 months ago

India is investing more in mutual fund SIPs, and paying more tax too

Firstpost  

With individual wealth creation through investments aligning with strengthened government revenues, India appears resilient in the face of global uncertainties Investments in mutual funds,a s well as tax collection in India have gone up. New records for SIPs In October 2024, investments through monthly systematic investment plans into mutual funds surpassed Rs 25,000 crore for the first time and reached …

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore
2 months, 3 weeks ago

India's Tax Filers Surge Fivefold, With 52% of Salaried Individuals Reporting Income Over Rs 1 Crore

ABP News  

India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years
2 months, 4 weeks ago

Income Tax Department Sees Doubled Number of Income Taxpayers in 10 Years

New Indian Express  

The number of income taxpayers has doubled in the past 10 years, with direct tax collection tripling during the same period. Tax buoyancy has shown a sharp improvement, indicating that the growth in tax collection was more than double the nominal GDP growth rate. This is a positive sign for the Indian economy, as it suggests that the country is …

Budget may make some announcements to enable Global Minimum Tax
6 months ago

Budget may make some announcements to enable Global Minimum Tax

Deccan Chronicle  

The global minimum tax set to take effect in 2025 will have legal and economic ramifications for multinational corporations with an annual global turnover exceeding €750 million. “India being a signatory of the Global Minimum Tax Agreement and the regime set to take effect in 2025, the government will have to bring some enabling provisions and mechanisms in the Budget. …

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary
11 months, 1 week ago

India’s tax-to-GDP ratio to hit a record high of 11.7% of GDP in 2024-25: Revenue Secretary

The Hindu  

February 06, 2024 08:19 pm | Updated 09:05 pm IST - NEW DELHI India’s tax-to-GDP ratio is expected to hit a record high of 11.7% of GDP in 2024-25, led by an uptick in the more ‘equitable’ direct taxes, and the government will continue to simplify and rationalise the tax regime to reduce disputes, litigation and intrusive means of enforcement, …

Robust revenues: On direct tax collection target and fiscal consolidation
1 year ago

Robust revenues: On direct tax collection target and fiscal consolidation

The Hindu  

With little under a quarter left in the financial year 2023-24, the government has met nearly 81% of its direct tax collection target. Economists believe the exchequer’s net direct tax kitty will end up surpassing the Budget estimate of ₹17.2 lakh crore by about a lakh crore if not more, with the full-year growth settling at around 18%. Within direct …

Has India’s corporation tax gamble paid off yet?
1 year, 9 months ago

Has India’s corporation tax gamble paid off yet?

Live Mint  

From being raised to 45% in India’s historic budget of 1991, to now just around half of that, corporate tax rates in India have come a long way and are now indeed more competitive globally. The effective tax rate among Indian companies has now fallen below even the statutory concessional rate, a Mint analysis shows. 26%: Corporate tax's share in …

Don’t increase corporation tax, three ex-chancellors tell Rishi Sunak
1 year, 10 months ago

Don’t increase corporation tax, three ex-chancellors tell Rishi Sunak

The Telegraph  

Mr Kwarteng, sacked as chancellor by Ms Truss shortly before she resigned as prime minister, said the increase in corporation tax “doesn’t help our competitiveness”, adding: “We have got to look at ways to improve our attractiveness to foreign investors.” Meanwhile the Federation of Small Businesses said the policy would be disastrous for the UK’s one million limited company directors. …

Sri Lanka hikes tax rates to maximise government revenues
2 years, 7 months ago

Sri Lanka hikes tax rates to maximise government revenues

The Hindu  

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers. "The implementation of a strong fiscal consolidation plan is imperative through revenue enhancement as well as expenditure rationalization measures in 2022," Mr. Wickremesinghe's office said …

Sri Lanka hikes tax rates to boost government revenues
2 years, 7 months ago

Sri Lanka hikes tax rates to boost government revenues

Al Jazeera  

The crisis-hit country’s inflation rose to 39.1 percent in May, its statistics office said on Tuesday. Sri Lanka’s cash-strapped government has announced a taxation overhaul to boost revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers. Sri Lanka’s inflation rose to 39.1 percent in May, its …

Most Indians want tax on the rich, top firms
2 years, 11 months ago

Most Indians want tax on the rich, top firms

Deccan Chronicle  

Chennai: More than 80 per cent of Indians support a tax on the rich and corporations who earned record profits during the pandemic, a nationwide survey conducted ahead of the Budget by Fight Inequality Alliance India said. The study had said that an annual wealth tax in India would raise $78.3 billion a year with a 2 per cent tax …

Goods and Services Tax as an unfinished agenda
3 years, 1 month ago

Goods and Services Tax as an unfinished agenda

The Hindu  

GST, or Goods and Services Tax, an institutional tax innovation intensively marketed in many countries by the International Monetary Fund and the World Bank, was wrapped in a “one nation one tax” package, and was accepted by India on the midnight of July 1, 2017. While the States have forgone a substantial part of their own tax revenue, they were …

India’s tax burden shifted from boardrooms to petrol pumps during Covid-19
3 years, 7 months ago

India’s tax burden shifted from boardrooms to petrol pumps during Covid-19

Hindustan Times  

The provisional Gross Tax Revenue collection of the Union government was ₹20.24 lakh crore in 2020-21. On a year-on-year basis, corporation tax collections saw the biggest decline, whereas Union excise duties had the biggest jump. Taxes on profits had the smallest share in overall tax basket since 2009-10 The share of corporation tax collections – taxes on profits of companies …

Unchanged Corporate Tax, Benefits on CSR: What Corporate India Can Expect from Union Budget 2021
3 years, 11 months ago

Unchanged Corporate Tax, Benefits on CSR: What Corporate India Can Expect from Union Budget 2021

News 18  

Finance Minister Nirmala Sitharaman has already set the expectations high by promising a budget like “never before” to address the biggest concern being likely contraction in GDP of 7.7 percent as uncertainties around a sustainable rebound of demand continue to weigh on economic activity. With the fortune of many multinational corporations being affected by the pandemic, the expectation of India …

Tax increase for corporations looks more likely as US election nears
4 years, 2 months ago

Tax increase for corporations looks more likely as US election nears

Live Mint  

On paper, the 21% U.S. corporate tax rate was a permanent cornerstone of the 2017 tax law, a boon to business without the expiration date attached to other provisions. As the election nears, companies are closely examining Mr. Biden’s plans and modeling higher tax rates, said Rohit Kumar of accounting firm PwC LLP. Higher corporate taxes would make it harder …

Modi administration cut corporate taxes, it’s industry’s turn to invest: Anurag Thakur
4 years, 6 months ago

Modi administration cut corporate taxes, it’s industry’s turn to invest: Anurag Thakur

Live Mint  

Minister of state for finance Anurag Thakur on Friday urged business leaders to start investing in the economy taking advantage of the lower corporate tax rate and other measures taken to make life easier for businesses. Thakur said that Indian industry used to talk about lower corporate tax rates prevalent in certain countries. Last September, finance minister Nirmala Sitharaman announced …

Taxation of dividends, back to classical system
4 years, 10 months ago

Taxation of dividends, back to classical system

Live Mint  

It’s almost a month since the Union budget was presented and by now taxpayers and other stakeholders have gone through the fine print to understand the implications of various announcements. One such budget announcement which has brought relief to taxpayers is the proposal to abolish the dividend distribution tax payable by Indian companies and restoring the classical system of taxing …

Income Tax Department notifies forms for firms to avail lower corporate tax rates announced in September last year
4 years, 11 months ago

Income Tax Department notifies forms for firms to avail lower corporate tax rates announced in September last year

Firstpost  

The income tax department has notified forms for companies to avail the reduced corporate tax rates that were announced in September last year New Delhi: The income tax department has notified forms for companies to avail the reduced corporate tax rates that were announced in September last year. The Central Board of Direct Taxes has notified Forms 10-IC and 10-ID …

Budget 2020: Income tax slabs lowered for those who forgo exemptions
4 years, 11 months ago

Budget 2020: Income tax slabs lowered for those who forgo exemptions

The Hindu  

In a proposal to simplify the personal income tax regime, Finance Minister Nirmala Sitharaman, in the Union Budget 2020 speech, said the income tax rates would be “significantly reduced” for those who forgo reliefs and exemptions and the new rates would be optional. Accordingly, a person earning Rs 15 lakh per anum and not availing any deductions will pay ₹1.95 …

Corporate tax cut to mostly benefit less than 1% of companies: Economic Survey
4 years, 11 months ago

Corporate tax cut to mostly benefit less than 1% of companies: Economic Survey

Live Mint  

The steep cut in corporate tax rate will benefit large companies the most as smaller ones were already paying lower rates, the Economic Survey 2019-20 said on Friday. The pre-Budget Survey, tabled in Parliament, said most of the companies have a gross turnover of below ₹400 crore and are already taxed at the base corporate tax rate of 25 per …

Budget 2020: Income tax rate cuts high on the wish list
4 years, 11 months ago

Budget 2020: Income tax rate cuts high on the wish list

Live Mint  

With Budget 2020 announcements around the corner, the euphoria on Budget expectations are very high. This has put India on the trajectory of significantly high personal income tax rates globally and has come at a time when countries such as the US have reduced personal tax rates. The cuts in individual tax rates will enhance the disposable income and in …

Ahead of Budget 2020, Narendra Modi, Amit Shah meet economists, experts at NITI Aayog; discuss steps to revive growth
5 years ago

Ahead of Budget 2020, Narendra Modi, Amit Shah meet economists, experts at NITI Aayog; discuss steps to revive growth

Firstpost  

The meeting assumes importance as the government is in the process of formulating Budget proposals for 2020-21 New Delhi: Prime Minister Narendra Modi is meeting economists and experts at the NITI Aayog to discuss the state of economy and steps to be taken to revive growth which is estimated to drop to 5 percent during the current fiscal. pic.twitter.com/ES5BLAZkl7 — …

If India has to grow faster, States have to grow faster: Bibek Debroy
5 years ago

If India has to grow faster, States have to grow faster: Bibek Debroy

The Hindu  

To present the economic slowdown as a binary of structural versus cyclical or demand side-driven versus supply-side driven factors is completely unwarranted, says Bibek Debroy, Chairman of the Economic Advisory Council to Prime Minister Narendra Modi. The Finance Minister has said there is going to be a relook at the direct tax rates because the corporate tax rate has come …

Tax breaks necessary but India needs more reforms, says CEA
5 years, 1 month ago

Tax breaks necessary but India needs more reforms, says CEA

Live Mint  

Corporate tax rate cuts are necessary but not sufficient to stimulate investments, for which the country needs more reforms, chief economic advisor Krishnamurthy Subramanian said on Tuesday. “Tax rate cuts are necessary, but are not necessarily sufficient conditions for attracting investments because investors look at after-tax returns,” Subramanian said while arguing for more investments. The government in September announced a …

Rajya Sabha members uncertain over investments flow after corporate tax reduction
5 years, 1 month ago

Rajya Sabha members uncertain over investments flow after corporate tax reduction

India TV News  

Opposition members in the Rajya Sabha on Thursday expressed doubt over the increase in investment by companies after a reduction in corporate taxes during a debate on The Taxation Laws Bill. Initiating the debate on the bill, which was tabled to replace an ordinance that was used to slash corporate tax rates, Congress member Jairam Ramesh alleged that corporate tax …

Software, mining, books printing industry not qualify for 15% corporate tax cut: Nirmala Sitharman
5 years, 1 month ago

Software, mining, books printing industry not qualify for 15% corporate tax cut: Nirmala Sitharman

Live Mint  

Finance Minister Nirmala Sitharaman on Thursday said the lower 15% tax rate for new manufacturing companies will not apply to computer software development, mining and printing of books. She was replying to a debate in the Rajya Sabha on the Taxation Laws Bill, 2019 that replaces the Taxation Laws Ordinance, 2019, promulgated on September 20, 2019, to cut the base …

Personal income tax rate cut can revive economy
5 years, 1 month ago

Personal income tax rate cut can revive economy

Live Mint  

With the next budget of the Centre less than two months away, one thing the government can do to revive the economy is cut personal income tax rates or increase the tax slabs and thus put more money in the hands of people. Of the total 58.7 million income tax returns filed in the 2018-19 assessment year, 94%, or 55.3 …

Lok Sabha Passes Bill To Slash Corporate Tax Rates [Read Bill]
5 years, 1 month ago

Lok Sabha Passes Bill To Slash Corporate Tax Rates [Read Bill]

Live Law  

The Lok Sabha today passed the Taxation Laws Bill, 2019, to slash corporate tax rate to 22% without incentives and tax rate for new manufacturing entities to 15%. Salient Features of the Bill Optional Tax Rates For Domestic Companies Currently, the income tax rate for domestic companies with annual turnover of up to Rs 400 crore is 25%. The Bill …

When the statistical system gives bad news, govt tries to discredit it: Pronab Sen
5 years, 1 month ago

When the statistical system gives bad news, govt tries to discredit it: Pronab Sen

Live Mint  

Pronab Sen, country director of the International Growth Centre, had a long and distinguished career in the government as the principal adviser in the Planning Commission, the first chief statistician of India as well as the chairman of the National Statistical Commission. In an interview, Sen spoke about the state of the economy, the challenge before the 15th Finance Commission …

In a first, govt seeks suggestions on income tax rates, other duties
5 years, 2 months ago

In a first, govt seeks suggestions on income tax rates, other duties

Live Mint  

In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations. While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put …

Budget 2020: Finance Ministry seeks suggestions for rationalising income tax, other duties
5 years, 2 months ago

Budget 2020: Finance Ministry seeks suggestions for rationalising income tax, other duties

India TV News  

In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations. While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put …

Finance ministry looks to widen tax base in FY21 budget
5 years, 2 months ago

Finance ministry looks to widen tax base in FY21 budget

Live Mint  

New Delhi: The finance ministry is examining ways to widen the tax base in the FY21 Union Budget by plugging loopholes in the law, especially in areas of tax exemptions and concessional tax schemes. A government official, who spoke on condition of anonymity, said policy makers will leverage the immense amount of data that the direct and indirect tax authorities …

Indian firms remain heavily taxed, how South Asia can contribute a third of global growth; all this and more on Moneycontrol Pro
5 years, 2 months ago

Indian firms remain heavily taxed, how South Asia can contribute a third of global growth; all this and more on Moneycontrol Pro

Firstpost  

Finally, some great news! Indian companies remain heavily taxed despite the corporate tax cut The corporate tax cut was hailed as a big game-changer for Indian companies. Though the Indian government has done the right thing in cutting corporate tax rates, the surcharges, cess, various taxes on dividend defeats the purpose. How South Asia can contribute a third of global …

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation
5 years, 2 months ago

Govt unlikely to go for personal income tax cut amid fiscal stress, lower tax realisation

Firstpost  

New Delhi: The government is unlikely to moderate personal income tax rates for the rich due to fiscal stress on account of lower tax realisation amid a slowdown in the economy, sources said. The pressure is mounting on the government to cut personal income tax rates to boost demand, especially after the finance ministry reduced the corporate tax rate by …

Number of income tax payers jumps 13.8% to 84.5 million
5 years, 3 months ago

Number of income tax payers jumps 13.8% to 84.5 million

Live Mint  

The number of income tax payers rose to 84.5 million in the 2018-19 assessment year, a jump of 13.8% from the previous year in line with double-digit growth in tax receipts and the number of returns filed, official data showed on Friday. Successive rounds of GST rate cuts as well as the improvement in income tax compliance have led to …

‘Corporate tax cut is the single biggest reform in the last two decades’
5 years, 3 months ago

‘Corporate tax cut is the single biggest reform in the last two decades’

Live Mint  

B.K Goenka occupies a hot seat. Edited excerpts from an interview: The recent cut in corporate tax rate and other economic sops have brought cheer to the industry. The corporate tax cut is the single biggest reform in the last two decades and is no small achievement. One should understand that when the effective rate of corporate tax is slashed …

Opinion | An attempt to kick-start the investment cycle
5 years, 3 months ago

Opinion | An attempt to kick-start the investment cycle

Live Mint  

It has been said that governments in India stare at the many problems and their possible solutions simultaneously. Companies in sectors such as consumer staples, consumer discretionary, healthcare services and financials are among the biggest beneficiaries as many companies in these sectors paid tax near the highest marginal tax rate. Sectors such as information technology and pharmaceuticals operate at tax …

Under Modi, India is ‘red carpet society’: Sitharaman
5 years, 3 months ago

Under Modi, India is ‘red carpet society’: Sitharaman

The Hindu  

Claiming that the recent decision to reduce corporate tax to 22% and MAT rate to 15% was not just a reduction but a tax reform, Union Finance Minister Nirmala Sitharaman on Saturday said that through clean administration and reforms, Prime Minister Narendra Modi had transformed the country from “red tape society to red carpet society”, thereby giving a boost to …

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT
5 years, 3 months ago

Companies opting for new lower corporate tax rate can't claim MAT credit, other deductions: CBDT

Firstpost  

The Central Board of Direct Taxes, in a clarification, said companies will be allowed to utilise such credits only against regular taxes under the old regime New Delhi: The finance ministry on Wednesday said companies opting for the lower corporate tax rate of 22 percent will not be allowed to reduce their tax liability by claiming deductions towards additional depreciation …

Corporate tax cut a signal to structural reforms, govt should focus on non-tax revenues to offset deficit: CEA
5 years, 3 months ago

Corporate tax cut a signal to structural reforms, govt should focus on non-tax revenues to offset deficit: CEA

Firstpost  

On 20 September, Finance Minister Nirmala Sitharaman had announced a reduction in the base corporate tax rate to 22% from 30% as part of stimulus measures to revive the slowing economic growth. Hyderabad: Describing the recent corporate tax cut as a signal to structural reforms, chief economic advisor KV Subramanian on Wednesday said the government needs to focus on non-tax …

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