Under the new regime introduced, a tax rate of 15 per cent was announced under Section 115BAB for newly incorporated domestic companies, which make fresh investment by March 31, 2023, for manufacturing, production, research or distribution of such articles or things manufactured.
Key points of the regime
What is corporate income tax? In India, the Corporate Income tax rate refers to the highest effective rate for Corporate Income for domestic companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. Revenues from the Corporate Tax Rate are an important source of income for the government of India.
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What is Global Minimum Corporate Tax Rate (GMCTR)?
Issues involved regarding corporate tax regime
Benefits of corporate tax in India
The concessional corporate tax regime is a forward step towards tax profiling and invasion in India. Since after COVID now stringent and strategic policies for every economic move is concerned and scrutinized. Hence, India is now going in lines with the US for relaxing its tax regimes to increase Investment and achieve GDP growth targets.
Verifying, please be patient.
DELHI (Karol Bagh)
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BHUBANESWAR (Jaydev Vihar)
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LUCKNOW (Aliganj)
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