Tag: Corporate Tax

The net direct tax collections (income tax and corporate tax) reached an all time high of Rs 14.09 lakh crore in financial year 2021-22 against Rs 9.45 lakh crore collections in FY 2020-21, CBDT Chairman J.B. Mohapatra said on Tuesday.

New Delhi: Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators. In her maiden Budget in July, she had cut corporate tax for companies with annual turnover of up to Rs […]

New Delhi: India Inc. on Friday double cheered the government’s Rs 1,45,000 crore stimulus, which includes slashing corporate tax to 22 per cent for domestic companies, lower tax of 15 per cent for new manufacturing firms and measures to boost the capital market. “We welcome the Finance Minister’s proposition of slashing corporate tax, scrapping surcharge […]