shine india monthly magazine published this article page no 14 in direct tax the government of india has undertaken substantial tax reforms to ensure that tax collection increases in a non-adversarial manner through a stable and predictable tax regime. there are four pillars of this reform reduction in rate of corporate tax: the corporate tax rate for existing domestic companies was reduced from the previous 30% to 25.17% (inclusive of surcharges and cess). shine india monthly magazine telugu lower tax rate for new companies: a lower direct tax rate of 17.16% (inclusive of surcharges and cess) is applicable to new domestic manufacturing companies established after october 1 2019 and commencing production before march 31 2024. reduced personal income tax but less exemptions: in 2020 a new personal income tax regime with lower rates was introduced and these rates were further reduced in the finance act of 2023 shine india monthly magazine subscription.
No comments:
Post a Comment