Corporate tax rates slashed as govt announces ₹1.45 lakh crore stimulus
5 years, 4 months ago

Corporate tax rates slashed as govt announces ₹1.45 lakh crore stimulus

Live Mint  

Finance Minister Nirmala Sitharaman today announced a big reduction in income tax rate for corporates. The government has slashed basic corporate tax rate to 22% from 30% while for new manufacturing companies it has been cut down to 15% from 25%. Revenue foregone for the reduction in corporate tax rate and other relief measures announced today will cost the government ₹1.45 lakh crore per year, the finance minister said. Here are some of the key announcements: Govt proposes to slash corporate tax rate for domestic tax rate Ordinance regarding this has already been passed A domestic company can pay income tax at 22% if they don't seek any exemption or incentives Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies Such companies also not required to pay Minimum Alternative Tax Companies availing exemptions can opt to pay tax of 22% after the exemption period is over Enhanced surcharge announced in Budget shall not apply on capital gains arising on sale of any securities including derivatives in the hands of foreign portfolio investors The govt expects to widen tax basket with lower tax rate Buybacks pre-July 5 exempted from buyback tax For new manufacturing companies that start production before March 2023 and incorporated on or after 1st October 2019, corporate tax rate brought down to 15% from 25% Enhanced surcharge announced in Budget not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT MAT for companies that want to use tax exemptions cut to 15% from 18.5% New tax rate will be applicable from the current fiscal which began on April 1.

Corporate Tax Companies Rate Corporate Tax Rate Tax Rate  tax  domestic  govt  crore  corporate  stimulus  rate  lakh  145  companies  rates  announced  pay  15  unit  slashed  22  announces

History of this topic

Budget should announce tax cuts for individuals to boost consumption: Barclays
5 days, 8 hours ago

Budget should announce tax cuts for individuals to boost consumption: Barclays

Live Mint  

New Delhi, Jan 23 The government in FY26 Budget should announce an "effective" personal income tax cut to support consumption and demand, Barclays said on Thursday. Barclays, India Chief Economist, Aastha Gudwani said in a quest to support consumption, the finance minister should provide an effective personal income tax rate cut by further tweaking the tax slabs. Barclays said it …

India’s net direct tax collection swells 16% to ₹16.90 trillion so far in FY25
Trending News
2 weeks, 1 day 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 …

Net direct tax collections slow down marginally to touch 15.88% in January
2 weeks, 1 day ago

Net direct tax collections slow down marginally to touch 15.88% in January

The Hindu  

Growth in India’s net direct tax collections slowed marginally over the past month to touch 15.88% by January 12, from a 16.5% uptick as of December 17, with gross receipts also tapering slightly from 20.3% a month ago to 19.94%. After accounting for refunds which were 42.5% higher than January 12, 2024 at ₹3.74 lakh crore, net direct tax collections …

Mohandas Pai shares his Budget 2025 wishlist: No tax up to ₹5 lakh, large tax slabs, relief for middle class & more
3 weeks, 5 days ago

Mohandas Pai shares his Budget 2025 wishlist: No tax up to ₹5 lakh, large tax slabs, relief for middle class & more

Live Mint  

Former Infosys CFO TV Mohandas Pai has requested a set of reforms in the upcoming budget, which is scheduled to be announced in February 2025. Pai has asked Prime Minister Narendra Modi to make Budget 25-26 “a year of Big Reforms.” In a post on X, he suggested a list of reforms the government could implement. The former Infosys CFO …

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

Net direct tax collections rise 16.5%
1 month, 1 week 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 …

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December
1 month, 1 week ago

Net direct tax receipts grows 16.45% to ₹15.82 lakh crore till mid-December

Live Mint  

The Centre’s direct tax collection from corporations and individuals after adjusting for tax refunds has reached ₹15.8 trillion so far this year, jumping 16.45% over the previous year and outpacing the budget estimate. While non-corporate tax collection from individuals and other entities like partnerships and local authorities, after adjusting for refunds, recorded a 22% jump so far this year to …

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
2 months, 2 weeks ago

Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov

Live Mint  

New Delhi: The union government’s direct-tax collection has grown by 15.41%, after tax refunds, to ₹12.1 trillion so far this financial year, the Central Board of Direct Taxes said on Monday. Securities transaction tax contributed ₹35,923 crore so far this financial year, 90% more than the ₹18,909 crore collected in the same period a year ago, CBDT data showed. So …

Net direct tax collection rises 22% so far this fiscal
5 months, 2 weeks ago

Net direct tax collection rises 22% so far this fiscal

Live Mint  

New Delhi: The central government’s direct tax collection has risen 22.48% so far this fiscal. Personal tax collection jumped 30% year-on-year to ₹4.47 trillion, while corporate taxes have risen 6% to ₹2.22 trillion. For FY25, the government targets a corporate tax mop-up of ₹10.2 trillion and personal income tax collection of ₹11.87 trillion. The total direct tax collection before adjusting …

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report
5 months, 3 weeks ago

Tax defaults in India skyrocket by 1000% over last 10 years, litigations double: Report

Hindustan Times  

Tax defaults in India have skyrocketed by 1000% in the last ten years and litigation associated with it has also consequently risen, according to a Moneycontrol report, which cited data compiled from various Union Budgets. Tax defaults in India skyrocketed by 1000% in the last ten years and associated litigation has also consequently risen How much tax default did India …

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways
6 months ago

Income tax benefits, capital gains tax hike, cheaper phones | Key Budget takeaways

Hindustan Times  

Finance minister Nirmala Sitharaman on Tuesday proposed the much-awaited change in the income tax slabs as she tabled the first Union Budget of the new Narendra Modi government. "Under the new tax regime, tax rate structure to be revised as follows - ₹0- ₹3 lakh -Nil; ₹3-7 lakh -5%; ₹7-10 lakh-10%; ₹10-12 lakh-15%; ₹12-15 lakh- 20% and above ₹15 lakh-30%," …

Old vs proposed income tax slabs under new regime. What has changed?
6 months ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

Budget 2024: Income tax slabs changed, standard deduction increased. Read details
6 months ago

Budget 2024: Income tax slabs changed, standard deduction increased. Read details

Op India  

On Tuesday, Finance Minister Nirmala Sitharaman presented the Annual Financial Statement before the Lok Sabha. The Finance Minister has given relief to taxpayers who choose to opt for the New Tax regime as the tax slabs have been revised and the Standard deduction limit has been increased from Rs 50,000 to Rs 75,000. Personal Income Tax: The Union Finance Minister …

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged
6 months ago

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged

The Hindu  

Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. Whilst the rate of taxation remains unchanged, the size of each of the slabs, excluding the initial zero to ₹3 lakh, remains unchanged. Budget 2024-25: Taxes Earlier, the Finance Minister further placed increasing the standard deduction for salaried employees from …

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?
6 months, 1 week ago

Budget 2024: Will Nirmala Sitharaman bring cheer to middle-class with income tax changes?

Hindustan Times  

The Union Budget 2024 could provide Income Tax relief for low earners looms large amid rising prices in the country. Experts believe that a reduction in Income Tax could address economic challenges in the country as Finance Minister Nirmala Sitharaman is set to present the Union Budget for the fiscal year 2024-25 on July 23. This change would boost consumption, …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
6 months, 1 week ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

’Middle class bearing more weight than corporates’: Congress slams Centre over taxation policy ahead of Budget 2024
6 months, 2 weeks ago

’Middle class bearing more weight than corporates’: Congress slams Centre over taxation policy ahead of Budget 2024

Live Mint  

Congress leader Jairam Ramesh attacked the government on Sunday over the taxation in the country, saying that "the middle class continues to bear the weight of heavy taxation." In a post on X, Ramesh said, ".data has just been released that gross personal income tax collections amounted to ₹3.61 lakh crore during April 1-July 1 2024, while gross corporate tax …

Budget may make some announcements to enable Global Minimum Tax
6 months, 2 weeks 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. …

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress
6 months, 2 weeks ago

Corporate tax cut enriched billionaires by Rs 2 lakh crore; middle-class hit by heavy taxes: Congress

New Indian Express  

NEW DELHI: With the personal income tax collections exceeding the corporate tax collections, the Congress alleged on Sunday that the corporate tax cut has put over Rs 2 lakh crore in the "pockets of billionaires," while the middle class continues to bear the weight of heavy taxation. The opposition party's attack on the government came a day after data released …

Direct tax mop-up rises 20% to ₹5.74 lakh cr on higher corporate advance tax
6 months, 2 weeks ago

Direct tax mop-up rises 20% to ₹5.74 lakh cr on higher corporate advance tax

The Hindu  

Net direct tax collection grew 19.54% to over ₹5.74 lakh crore so far this fiscal on higher advance tax payment by corporates. The net direct tax collection of ₹5,74,357 crore includes CIT at ₹2,10,274 crore and PIT at ₹3,46,036 crore, as per data released by Central Board of Direct Taxes on July 13. During the same period last year, net …

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 …

Net direct tax collections up 22 % to ₹10.60 lakh crore in FY24
1 year, 2 months ago

Net direct tax collections up 22 % to ₹10.60 lakh crore in FY24

Firstpost  

The net corporate tax collection growth is 12.48 per cent, while the mop-up from personal income tax has risen by 31.77 per cent. Net direct tax collection has increased by 22 per cent in the current fiscal year, reaching Rs 10.60 lakh crore. “Direct Tax collection, net of refunds, stands at Rs 10.60 lakh crore which is 21.82 per cent …

Has India’s corporation tax gamble paid off yet?
1 year, 10 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 …

Budget 2023: How Nirmala Sitharaman attempted to simplify tax experience
1 year, 11 months ago

Budget 2023: How Nirmala Sitharaman attempted to simplify tax experience

Live Mint  

The Hon’ble Finance Minister presented today the last full-fledged Budget 2023 under the Modi 2.0 Government. Further, with the proposals, it is apparent that the Government wants to simplify the tax experience to its taxpayers by proposing a common tax return form, bringing reforms to litigation and also giving prominence to the new tax regime which does not require the …

Targeted relief measures during pandemic saved country from recession: FM
2 years, 1 month ago

Targeted relief measures during pandemic saved country from recession: FM

The Hindu  

The country did not slip into an economic recession because of the targeted approach taken by Prime Minister Narendra Modi to give relief to people during the COVID-19 pandemic, Finance Minister Nirmala Sitharaman said on Wednesday. Responding to former Finance Minister P. Chidambaram, who spearheaded the Opposition by initiating the debate on Monday, Ms. Sitharaman said the countries who went …

Direct tax revenues up 16.3% at ₹7.45 lakh crore
2 years, 3 months ago

Direct tax revenues up 16.3% at ₹7.45 lakh crore

The Hindu  

India’s net Direct tax collections in 2022-23 have risen to ₹7.45 lakh crore, more than half this year’s Budget targets by October 8, rising 16.3% over the tax inflows during the same period a year ago, the Finance Ministry said on October 9, 2022. Underlining that Direct Tax collections continue to register steady growth, the ministry said that tax refunds …

Direct tax collection rises by 30% to Rs 8.36 lakh crore
2 years, 4 months ago

Direct tax collection rises by 30% to Rs 8.36 lakh crore

Deccan Chronicle  

NEW DELHI: Gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore till September 17 of current fiscal year on higher advance tax mop-up buoyed by the economic revival post pandemic, the finance ministry said on Sunday. After adjusting for refunds amounting to Rs 1.35 lakh crore, net direct tax kitty grew 23 per cent to Rs …

Centre mulls cutting tax rates in new income tax regime
2 years, 5 months ago

Centre mulls cutting tax rates in new income tax regime

Live Mint  

BENGALURU/NEW DELHI : The finance ministry is working to sweeten the two-year-old exemptions-free personal income tax regime by offering lower tax rates, a government official said, after the new system failed to click with taxpayers. “We have not seen much traction for the new personal income tax regime without exemptions so far. Similarly, the Centre is exploring ways to do …

Budget 2022: Replacing Income Tax with Expenditure Tax is the Blockbuster Reform India Needs
3 years ago

Budget 2022: Replacing Income Tax with Expenditure Tax is the Blockbuster Reform India Needs

News 18  

Every stimulus package to boost the economy has its own burdening impact on the country’s fiscal position. If personal income tax is done away with, about 6.32 crore people will have the freedom from the burden of submitting annual Income Tax Returns. The various organisations complying with TDS will also be free from the burden of collecting, remitting and submitting …

Direct tax collection exceeds FY-21 estimate by 4.42% at ₹9.45 lakh crore
3 years, 9 months ago

Direct tax collection exceeds FY-21 estimate by 4.42% at ₹9.45 lakh crore

Hindustan Times  

Rajeev Jayaswal The net direct tax collections of ₹ 9.45 lakh crore include corporation tax at ₹ 4.57 lakh crore and ₹ 4.88 lakh crore personal income tax. [email protected] New DelhiThe Union government’s net direct tax collections for the year 2020-21 surpassed the revised estimate by 4.42% at ₹9.45 lakh crore, the finance ministry said on Friday, disclosing figures that …

Direct Tax Collection for Ongoing Financial Year Drops by 17.6% Till December 15: Report
4 years, 1 month ago

Direct Tax Collection for Ongoing Financial Year Drops by 17.6% Till December 15: Report

News 18  

The Centre’s total net direct tax collection, which includes advance tax, dropped 17.6 percent in FY 2020-21 till December 15. According to a report by Moneycontrol, direct tax collected up to December 15 stood at Rs 4.95 lakh crore as against Rs 6.01 lakh crore for the same period a year ago. According to the initial projections, corporate tax collected …

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme
4 years, 2 months ago

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme

India TV News  

Union Finance Minister Nirmala Sitharaman on Thursday rolled out Atmanirbhar Bharat 3.0 stimulus package to boost economy. will make ₹ 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise ₹ 1.1 lakh crore by 2025 for financing infrastructure projects 2:08 pm: Differential between circle rate and agreement value in real estate …

Tax Collection Trend Showing Signs of Pick Up, Economy on Recovery Path: Finance Secretary
4 years, 2 months ago

Tax Collection Trend Showing Signs of Pick Up, Economy on Recovery Path: Finance Secretary

News 18  

New Delhi: In signs of the economy continuing to reflate, the government's tax collections have picked up and high-frequency activity indicators continue to improve on the back of the government's targeted COVID-19 stimulus, Finance Secretary Ajay Bhushan Pandey said. In the month of September, GST collection was 4 per cent higher than what was there in the corresponding period last …

At Rs 40,072 Crore, Govt's External Financing Jumps 5-times Till August: Report
4 years, 3 months ago

At Rs 40,072 Crore, Govt's External Financing Jumps 5-times Till August: Report

News 18  

External financing of the government has jumped nearly five times over the previous year's figure at Rs 40,072 crore during the first five months of the current fiscal, according to an analysis of the fiscal deficit numbers by Care Ratings. At Rs 40,072 crore, the external financing of government debt is a whopping 867 per cent of the budget estimate …

PM Modi to Launch 'Transparent Taxation
4 years, 5 months ago

PM Modi to Launch 'Transparent Taxation

News 18  

Prime Minister Narendra Modi will on Thursday launch a new platform, "Transparent Taxation Honouring the Honest", which will carry forward the journey of direct tax reforms, an official statement said here. The Central Board of Direct Taxes has carried out several major tax reforms in direct taxes in the recent years, the statement pointed out. This includes bringing more transparency …

Govt's endeavour has been to further simplify Direct Tax laws: Sitharaman
4 years, 6 months ago

Govt's endeavour has been to further simplify Direct Tax laws: Sitharaman

India TV News  

The government's endeavour has been to further simplify the Direct Tax laws and has brought in a major reform by giving option to taxpayers to opt for a new simpler tax regime, Finance Minister Nirmala Sitharaman said on Friday. In line with the same, we brought in a major tax reform by ushering in a new simpler tax regime for …

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 …

Govt to consider extension in deadline for availing 15% corporate tax rate benefit: FM Nirmala Sitharaman
4 years, 7 months ago

Govt to consider extension in deadline for availing 15% corporate tax rate benefit: FM Nirmala Sitharaman

Live Mint  

Finance Minister Nirmala Sitharaman on Monday said the government will consider an extension in the deadline for availing the lower 15% corporate tax rate on new investments, due to the COVID-19 pandemic. In the biggest reduction in 28 years, the government in September last year slashed corporate tax rates by up to 10 percentage points to attract private investment and …

TDS, TCS Rates Reduced By 25%, Income Tax Return Deadline Extended To Nov 30, Says FM Nirmala Sitharaman
4 years, 8 months ago

TDS, TCS Rates Reduced By 25%, Income Tax Return Deadline Extended To Nov 30, Says FM Nirmala Sitharaman

ABP News  

Government to infuse Rs 50,000 crores liquidity by reducing rates of TDS, for non-salaried specified payments made to residents, and rates of Tax Collection at Source for specified receipts, by 25% of the existing rates. Citing a major relief to taxpayers of the country, Finance Minister announced a massive 25 per cent deduction in TDS and TCS rates and also …

Govt intends to remove all income tax exemptions in long run: FM
4 years, 11 months ago

Govt intends to remove all income tax exemptions in long run: FM

The Hindu  

After slashing income tax rates for individuals on condition that they give up exemptions and deductions, Finance Minister Nirmala Sitharaman on Saturday said the government intends to remove all I-T exemptions in the long run. Speaking at a press conference after presenting her second budget in the Lok Sabha, she said income tax cuts follow reduction in corporate tax rates …

Budget 2020: Personal Income Tax Rates Slashed
4 years, 11 months ago

Budget 2020: Personal Income Tax Rates Slashed

Live Law  

Finance Minister Nirmala Sitharaman has slashed the personal income tax rates but provided to forgo exemptions, as she announced the Union Budget for the Financial Year 2020-2021 today, in the Lok Sabha. It is noteworthy however that the new tax regime is optional for the taxpayers and an individual who is currently availing more deductions & exemption under the IT …

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 …

Budget 2020 Highlights: Nirmala Sitharaman announces tax cuts and an LIC stake sale!
4 years, 11 months ago

Budget 2020 Highlights: Nirmala Sitharaman announces tax cuts and an LIC stake sale!

New Indian Express  

Our consulting editorin his first take on the budget had this to say: If we were hoping for a major stimulus in the budget to counter the slowdown and breathe some life in the markets, it is not there. In fact, the Budget speech, one of the longest in recent years, was sounding as tired as the Finance Minister by …

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 …

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 — …

Narendra Modi meets Mukesh Ambani, Ratan Tata, other business heads to discuss economy ahead of Union Budget
5 years ago

Narendra Modi meets Mukesh Ambani, Ratan Tata, other business heads to discuss economy ahead of Union Budget

Firstpost  

New Delhi: Ahead of the annual Union Budget presentation, Prime Minister Narendra Modi on Monday interacted with top business tycoons to discuss issues facing the economy and measures needed to boost growth and create jobs. Richest Indian Mukesh Ambani, Tata group patriarch Ratan Tata, telecom czar Sunil Bharti Mittal, billionaire Gautam Adani, Mahindra Group chairman Anand Mahindra, and mining baron …

Budget 2020 Expectations: Govt Likely To Reduce Personal Income Tax Rates To Spur Economic Growth
5 years, 1 month ago

Budget 2020 Expectations: Govt Likely To Reduce Personal Income Tax Rates To Spur Economic Growth

ABP News  

Union Minister of Finance and Corporate Affairs Smt. For more details:https://t.co/v9N2RY7EBW pic.twitter.com/FXymoEhbrg — Ministry of Finance December 17, 2019 As the Modi government 2.0 is months away to present its Budget for 2020-21 fiscal likely on February 1, it is been expected that the Finance Ministry might trim personal income tax rates and reduce the tax levied on long term …

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 …

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