After two years of relief, govt to feel corporation tax pinch in FY20

The government may not be as fortunate this fiscal year as it was in the previous two years as far as corporation tax goes. The cut in the rates for companies not availing exemptions, and new manufacturing units, will hit the exchequer by Rs 1.45 trillion by the government’s own admission. Till November FY20, corporation tax collections were Rs 2,500 crore less than mopped up at that point of time a year ago. On the other hand, the Budget projected a 15.53% rise in corporation tax collections in FY20 YoY.