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FinMin looks at cut in corporation tax

Revenue dept to start pre-Budget consultations from next week

Dilasha Seth & Arup Roychoudhury  |  New Delhi 

The finance ministry is examining the possibility of cutting the corporation tax rate by one to two percentage points, even as the revenue department is set to kickstart Budget consultations with industry and consultants from the first week of November.

The ministry’s thinking is part of bringing down the corporation tax rate to 25 per cent by the end of 2018-19, from 30 per cent at present. An official said the government could look at an across-the-board one to two percentage point reduction in corporation tax rate, from 30 per cent next year, based on the phasing-out of ...

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First Published: Wed, October 26 2016. 00:50 IST
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