• Corporate tax relief: An elixir for the Indian economy

    It's Economy Stupid

    On 05 July 2019, the Indian Finance Minister presented the first Budget of the newly formed Government. At the end of the Budget announcement, which aimed at delivering growth, the corporate tax rates remained unchanged. However, the government extended the moderate corporate tax rate of 25%[1] for a domestic company having total turnover/ gross receipts not exceeding INR 4bn.[2] In this regard, the Indian Finance Minister, in her budget speech, stated that such a move would cover 99.3% of domestic companies. This left out only 0.7% of domestic companies outside this rate. Clearly, small and medium-sized businesses were the beneficial recipients of the tax relief, while large companies continued to pay taxes at the higher rate of 30%1. […]

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Diplomatist Magazine was launched in October of 1996 as the signature magazine of L.B. Associates (Pvt) Ltd, a contract publishing house based in Noida, a satellite town of New Delhi, India, the National Capital.