Six ways to slice the corporate tax cut10 min read . Updated: 25 Sep 2019, 03:26 PM IST
- The government had a choice to cut either corporate or personal tax. It seems to have made the wrong choice
- A personal income tax cut would have helped 51 million Indians
MUMBAI : On 20 September, finance minister Nirmala Sitharaman announced that the government had decided to cut the corporate income tax rate to 22% (effective rate of 25.17% including cess and surcharge) for existing firms, and to 15% (effective rate 17.01%) for new domestic firms in the manufacturing sector. This was subject to the condition that the companies availing these tax cuts will not claim any tax exemption/incentive. The government said this was being done to promote growth and investment.
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