Corporate tax cut: Booster shot for the economy, says Dinesh Kanabar

Though I welcome the reduction of tax rates for corporates, I wonder why the benefits have been restricted to corporates and not to other business entities

When the finance minister delivered a shot in the arm to the economy, she considerably reduced the rates of tax far beyond the wildest expectations of corporate India. Unwittingly, she has created a complex rate structure where different rates of tax apply to corporates and non-corporates. 

Within corporates, we have different rates for companies availing tax incentives (within that, different rates for different turnovers), for companies not availing tax incentives that are not into manufacturing and, finally, for newly set up companies engaged in manufacturing! We have separate tax rates for capital gains — long-term and short-term — and for