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Festival bonanza from FM: Corporation tax rate slashed to boost investments

The measures announced by the finance minister will hit the exchequer by Rs 1.45 trillion a year

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Finance Minister Nirmala Sitharaman addresses a press conference ahead of the 37th meeting of the GST Council, in Panaji, Friday. MoS Finance Anurag Thakur and Revenue Secretary Ajay Bhushan Pandey are also seen. Photo: PTI

Dilasha Seth Indivjal Dhasmana Panaji

3 min read Last Updated : Sep 20 2019 | 1:24 PM IST

In her fourth set of packages for the industry, finance minister Nirmala Sitharaman on Friday announced corporation tax rate cuts for companies not availing of any exemptions and setting up manufacturing facilities in the country from the next month.

The minister also announced doing away with surcharge announced in the Budget for the capital markets.

The measures will hit the exchequer by Rs 1.45 trillion a year amid the already grim situation, but the finance minister said the cut in taxes also expands the basket.

Sitharaman announced that the corporation tax rate has been cut to 22 per cent from

Topics : Nirmala Sitharaman corporate tax Corporate tax rate corporate tax cut

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