'Mini-Budget': Govt slashes corp tax rates to boost eco, investments

The govt on Friday slashed the income tax rate for companies by almost 10 percentage points to 25.17% and offered a lower rate to 17.01% for new manufacturing firms to boost economic growth rate from a six-year low. Finance Minister Nirmala Sitharaman said the reduction in tax rates has been done by promulgating an ordinance to an amendment to the Income Tax Act.

from Times of India https://ift.tt/31DqtYW