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Thursday 19 September 2019

Home / Business News: Latest News on Business / Financial News / India Business & World Business News / Stock Markets / Government slashes corporate tax to 25.17 % for domestic companies

Government slashes corporate tax to 25.17 % for domestic companies

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In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17% inclusive of all cess and surcharges for domestic companies. Finance minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1 and the revenue foregone on reductions will be Rs 1.45 lakh crore annually.

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