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In a big boost to India Inc and what could turn into a game-changer for the country, FM Nirmala Sitharaman has proposed to slash corporate tax for domestic companies and new domestic manufacturing companies. Centre has cut effective corporate tax rate to 25.17 per cent! This includes all surcharges and cesses for corporates. In her press briefing in Goa ahead of the GST Council meeting, Finance Minister Nirmala Sitharaman had yet another gift for coprorates! She said the new tax rate will be made effective from current fiscal - April 1. Significantly, ordinance has already been passed by Modi government putting into effect these tax cuts.
Watch Zee Business video below: Keki Mistry Reaction
<blockquote data-lang="en">FM के ऐलानों का कॉर्पोरेट इंडिया पर क्या असर रहेगा समझिए HDFC के VC &amp; MD केकी मिस्त्री से..<a href="https://twitter.com/hashtag/CorporateTax?src=hash&amp;ref_src=twsrc%5Etfw">#CorporateTax</a> <a href="https://twitter.com/hashtag/NirmalaSitharaman?src=hash&amp;ref_src=twsrc%5Etfw">#NirmalaSitharaman</a> <a href="https://t.co/J6ADDTSJsZ">pic.twitter.com/J6ADDTSJsZ</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1174930343964467201?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Sitharaman announced that Modi government has rolled in virtually a new tax regime with these cuts in basic corporate tax rates. The cut has been even bigger for the new manufacturing companies. To give manufacturing sector a boost, government said that the new manufacturing companies set up after October 1 can pay tax at the rate of 15%. The effective tax rate would be 17.01% (including surcharge and tax). This massive Diwali gift will lead the government to forego revenue of as much as Rs 1.45 lakh cr. The reason behind this huge Diwali gift for coprorates is to boost ecponomic growth which had fallen to a new low of 5% in June quarter.
Watch Zee Business video below: Anil Agarwal Reaction
<blockquote data-lang="en">कॉर्पोरेट इंडिया और देश की इकोनॉमी के लिए कितना बड़ा बूस्टर है FM का ऐलान जानिए वेदांता के चेयरमैन अनिल अग्रवाल से<a href="https://twitter.com/hashtag/CorporateTax?src=hash&amp;ref_src=twsrc%5Etfw">#CorporateTax</a> <a href="https://twitter.com/anilsinghvizee?ref_src=twsrc%5Etfw">@AnilSinghviZEE</a> <a href="https://twitter.com/AnilAgarwal_Ved?ref_src=twsrc%5Etfw">@AnilAgarwal_Ved</a> <a href="https://t.co/mdpapCyF58">pic.twitter.com/mdpapCyF58</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1174936949464846336?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Over the month, government has provided separate packages for housing sector as well as for exports too.
Watch Zee Business video below: Ajay Piramal reaction
<blockquote data-lang="en">FM के ऐलानों से कॉर्पोरेट इंडिया को होगा कितना फायदा? देखिए <a href="https://twitter.com/hashtag/PiramalGroup?src=hash&amp;ref_src=twsrc%5Etfw">#PiramalGroup</a> के चेयरमैन अजय पिरामल की राय<a href="https://twitter.com/PiramalGroup?ref_src=twsrc%5Etfw">@PiramalGroup</a> <a href="https://twitter.com/anilsinghvizee?ref_src=twsrc%5Etfw">@AnilSinghviZEE</a> <a href="https://t.co/LsrnriPlB5">pic.twitter.com/LsrnriPlB5</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1174941140505595904?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Check top power points FM Sitharaman made:
1. In order to promote growth and investment, new provision has been inserted in IT Act, w.e.f FY 2020; it will allow any domestic company an option to pay income tax at 22%, subject to condition that they will not avail any exemption or incentives.
2. Effective tax rate for these companies will be 25.17%, inclusive of all surcharges and cess; further, MAT will not be applicable on them. In short,  A domestic company can pay income tax at 22% if they dont seek any exemption or incentives. Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies. Such companies also not required to pay Minimum Alternative Tax
3. To attract fresh investment in manufacturing and boost #MakeInIndia, new provision inserted in IT Act, which allows any new domestic company incorporated on or after Oct 1, 2019, making fresh investment in manufacturing, an option to pay income tax at 15%.
Watch Sitharaman video below:
<blockquote data-lang="en">Provision inserted in IT Act:
A domestic company can pay income tax at 22% if they dont seek any exemption or incentives 
Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies
Such companies also not required to pay Minimum Alternative Tax <a href="https://t.co/ojXYzwfXKx">pic.twitter.com/ojXYzwfXKx</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1174919245160828928?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>4. A company which does not opt for concessional tax regime and avails tax exemption or incentives shall continue to pay tax at pre-amended rate; these companies can opt for concessional tax regime after expiry of tax holiday or exemption.
5. Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023.
Watch Sitharaman video below:
<blockquote data-lang="en">BOOST TO INVESTMENT IN MANUFACTURING
New provision in IT Act
Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023 <a href="https://t.co/OrQXnIsnic">pic.twitter.com/OrQXnIsnic</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1174920415300317184?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>6. Enhanced surcharge introduced by Finance (No. 2) Act 2019 shall not apply on capital gains arising on sale of equity share in a company/unit of equity oriented fund or unit of business trust liable for securities transaction tax. Enhanced surcharge shall not apply to capital gains arising on sale of any security including derivatives, in the hands of Foreign Portfolio Investors.
Watch Sitharaman video below:
<blockquote data-lang="en">Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019,
No tax on buy-back of shares in case of such companies: Union Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> <a href="https://t.co/NHf6QRPcZv">pic.twitter.com/NHf6QRPcZv</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1174921348977545217?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>7. To provide relief to companies which continue to avail exemptions and incentives, rate of Minimum Alternate Tax has been reduced from existing 18.5% to 15%.
8. Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019, No tax on buy-back of shares in case of such companies.
Watch Sitharaman video below:
<blockquote data-lang="en">Stabilising flow of funds into the capital market
Enhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT <a href="https://t.co/IEt7Yr0R7v">pic.twitter.com/IEt7Yr0R7v</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1174922183862190080?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>9. Enhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT.
10. To provide relief to listed companies which have already made a public announcement of buyback before July 5, 2019, tax on buyback of shares in case of such companies shall not be charged.
11. Govt. has decided to expand the scope of 2% spending on CSR; this can now be spent on incubators funded by central/state governments, or any agency or PSU of central/state govt, and making contribution to publicly funded universities.
Watch Sitharaman video below:
<blockquote data-lang="en">Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year: Union Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> <a href="https://t.co/0qGckFrzfn">pic.twitter.com/0qGckFrzfn</a>
— PIB India (@PIB_India) <a href="https://twitter.com/PIB_India/status/1174923599481716736?ref_src=twsrc%5Etfw">September 20, 2019</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>12. Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year.

In a big boost to India Inc and what could turn into a game-changer for the country, FM Nirmala Sitharaman has proposed to slash corporate tax for domestic companies and new domestic manufacturing companies. Centre has cut effective corporate tax rate to 25.17 per cent! This includes all surcharges and cesses for corporates. In her press briefing in Goa ahead of the GST Council meeting, Finance Minister Nirmala Sitharaman had yet another gift for coprorates! She said the new tax rate will be made effective from current fiscal - April 1. Significantly, ordinance has already been passed by Modi government putting into effect these tax cuts.Watch Zee Business video below: Keki Mistry ReactionFM के ऐलानों का कॉर्पोरेट इंडिया पर क्या असर रहेगा समझिए HDFC के VC &amp; MD केकी मिस्त्री से..#CorporateTax #NirmalaSitharaman pic.twitter.com/J6ADDTSJsZ— Zee Business (@ZeeBusiness) September 20, 2019Sitharaman announced that Modi government has rolled in virtually a new tax regime with these cuts in basic corporate tax rates. The cut has been even bigger for the new manufacturing companies. To give manufacturing sector a boost, government said that the new manufacturing companies set up after October 1 can pay tax at the rate of 15%. The effective tax rate would be 17.01% (including surcharge and tax). This massive Diwali gift will lead the government to forego revenue of as much as Rs 1.45 lakh cr. The reason behind this huge Diwali gift for coprorates is to boost ecponomic growth which had fallen to a new low of 5% in June quarter.Watch Zee Business video below: Anil Agarwal Reactionकॉर्पोरेट इंडिया और देश की इकोनॉमी के लिए कितना बड़ा बूस्टर है FM का ऐलान जानिए वेदांता के चेयरमैन अनिल अग्रवाल से#CorporateTax @AnilSinghviZEE @AnilAgarwal_Ved pic.twitter.com/mdpapCyF58— Zee Business (@ZeeBusiness) September 20, 2019Over the month, government has provided separate packages for housing sector as well as for exports too.Watch Zee Business video below: Ajay Piramal reactionFM के ऐलानों से कॉर्पोरेट इंडिया को होगा कितना फायदा? देखिए #PiramalGroup के चेयरमैन अजय पिरामल की राय@PiramalGroup @AnilSinghviZEE pic.twitter.com/LsrnriPlB5— Zee Business (@ZeeBusiness) September 20, 2019Check top power points FM Sitharaman made:1. In order to promote growth and investment, new provision has been inserted in IT Act, w.e.f FY 2020; it will allow any domestic company an option to pay income tax at 22%, subject to condition that they will not avail any exemption or incentives.2. Effective tax rate for these companies will be 25.17%, inclusive of all surcharges and cess; further, MAT will not be applicable on them. In short,  A domestic company can pay income tax at 22% if they dont seek any exemption or incentives. Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies. Such companies also not required to pay Minimum Alternative Tax3. To attract fresh investment in manufacturing and boost #MakeInIndia, new provision inserted in IT Act, which allows any new domestic company incorporated on or after Oct 1, 2019, making fresh investment in manufacturing, an option to pay income tax at 15%.Watch Sitharaman video below:Provision inserted in IT Act:A domestic company can pay income tax at 22% if they dont seek any exemption or incentivesEffective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companiesSuch companies also not required to pay Minimum Alternative Tax pic.twitter.com/ojXYzwfXKx— PIB India (@PIB_India) September 20, 20194. A company which does not opt for concessional tax regime and avails tax exemption or incentives shall continue to pay tax at pre-amended rate; these companies can opt for concessional tax regime after expiry of tax holiday or exemption.5. Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023.Watch Sitharaman video below:BOOST TO INVESTMENT IN MANUFACTURINGNew provision in IT ActAny new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023 pic.twitter.com/OrQXnIsnic— PIB India (@PIB_India) September 20, 20196. Enhanced surcharge introduced by Finance (No. 2) Act 2019 shall not apply on capital gains arising on sale of equity share in a company/unit of equity oriented fund or unit of business trust liable for securities transaction tax. Enhanced surcharge shall not apply to capital gains arising on sale of any security including derivatives, in the hands of Foreign Portfolio Investors.Watch Sitharaman video below:Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019,No tax on buy-back of shares in case of such companies: Union Minister @nsitharaman pic.twitter.com/NHf6QRPcZv— PIB India (@PIB_India) September 20, 20197. To provide relief to companies which continue to avail exemptions and incentives, rate of Minimum Alternate Tax has been reduced from existing 18.5% to 15%.8. Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019, No tax on buy-back of shares in case of such companies.Watch Sitharaman video below:Stabilising flow of funds into the capital marketEnhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT pic.twitter.com/IEt7Yr0R7v— PIB India (@PIB_India) September 20, 20199. Enhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT.10. To provide relief to listed companies which have already made a public announcement of buyback before July 5, 2019, tax on buyback of shares in case of such companies shall not be charged.11. Govt. has decided to expand the scope of 2% spending on CSR; this can now be spent on incubators funded by central/state governments, or any agency or PSU of central/state govt, and making contribution to publicly funded universities.Watch Sitharaman video below:Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year: Union Minister @nsitharaman pic.twitter.com/0qGckFrzfn— PIB India (@PIB_India) September 20, 201912. Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year. 

Whopping Rs 1.45 lakh crore GIFT: FM Nirmala Sitharaman has proposed to slash corporate tax for domestic companies and new domestic manufacturing companies.

ALERT! Game-Changer announcement! FM Sitharaman gives India Inc Rs 1.45 lakh cr Diwali GIFT, cuts corporate tax rates

news-alert-game-changer-announcement-nirmala-sitharaman-gives-india-inc-big-boost-slashes-corporate-tax-rate-110934

In a big boost to India Inc and what could turn into a game-changer for the country, FM Nirmala Sitharaman has proposed to slash corporate tax for domestic companies and new domestic manufacturing companies. Centre has cut effective corporate tax rate to 25.17 per cent! This includes all surcharges and cesses for corporates. In her press briefing in Goa ahead of the GST Council meeting, Finance Minister Nirmala Sitharaman had yet another gift for coprorates! She said the new tax rate will be made effective from current fiscal - April 1. Significantly, ordinance has already been passed by Modi government putting into effect these tax cuts. Watch Zee Business video below: Keki Mistry Reaction FM के ऐलानों का कॉर्पोरेट इंडिया पर क्या असर रहेगा समझिए HDFC के VC MD केकी मिस्त्री से..#CorporateTax #NirmalaSitharaman pic.twitter.com/J6ADDTSJsZ — Zee Business (@ZeeBusiness) September 20, 2019 Sitharaman announced that Modi government has rolled in virtually a new tax regime with these cuts in basic corporate tax rates. The cut has been even bigger for the new manufacturing companies. To give manufacturing sector a boost, government said that the new manufacturing companies set up after October 1 can pay tax at the rate of 15%. The effective tax rate would be 17.01% (including surcharge and tax). This massive Diwali gift will lead the government to forego revenue of as much as Rs 1.45 lakh cr. The reason behind this huge Diwali gift for coprorates is to boost ecponomic growth which had fallen to a new low of 5% in June quarter. Watch Zee Business video below: Anil Agarwal Reaction कॉर्पोरेट इंडिया और देश की इकोनॉमी के लिए कितना बड़ा बूस्टर है FM का ऐलान जानिए वेदांता के चेयरमैन अनिल अग्रवाल से#CorporateTax @AnilSinghviZEE @AnilAgarwal_Ved pic.twitter.com/mdpapCyF58 — Zee Business (@ZeeBusiness) September 20, 2019 Over the month, government has provided separate packages for housing sector as well as for exports too. Watch Zee Business video below: Ajay Piramal reaction FM के ऐलानों से कॉर्पोरेट इंडिया को होगा कितना फायदा? देखिए #PiramalGroup के चेयरमैन अजय पिरामल की राय@PiramalGroup @AnilSinghviZEE pic.twitter.com/LsrnriPlB5 — Zee Business (@ZeeBusiness) September 20, 2019 Check top power points FM Sitharaman made: 1. In order to promote growth and investment, new provision has been inserted in IT Act, w.e.f FY 2020; it will allow any domestic company an option to pay income tax at 22%, subject to condition that they will not avail any exemption or incentives. 2. Effective tax rate for these companies will be 25.17%, inclusive of all surcharges and cess; further, MAT will not be applicable on them. In short,  A domestic company can pay income tax at 22% if they dont seek any exemption or incentives. Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies. Such companies also not required to pay Minimum Alternative Tax 3. To attract fresh investment in manufacturing and boost #MakeInIndia, new provision inserted in IT Act, which allows any new domestic company incorporated on or after Oct 1, 2019, making fresh investment in manufacturing, an option to pay income tax at 15%. Watch Sitharaman video below: Provision inserted in IT Act: A domestic company can pay income tax at 22% if they dont seek any exemption or incentives Effective Tax Rate 25.17% inclusive of all surcharges and cess for such domestic companies Such companies also not required to pay Minimum Alternative Tax pic.twitter.com/ojXYzwfXKx — PIB India (@PIB_India) September 20, 2019 4. A company which does not opt for concessional tax regime and avails tax exemption or incentives shall continue to pay tax at pre-amended rate; these companies can opt for concessional tax regime after expiry of tax holiday or exemption. 5. Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023. Watch Sitharaman video below: BOOST TO INVESTMENT IN MANUFACTURING New provision in IT Act Any new domestic company incorporated on or after 1st Oct 2019 making fresh investment in manufacturing has an option to pay tax at 15% if not seeking incentives and commence production before 31st Mar 2023 pic.twitter.com/OrQXnIsnic — PIB India (@PIB_India) September 20, 2019 6. Enhanced surcharge introduced by Finance (No. 2) Act 2019 shall not apply on capital gains arising on sale of equity share in a company/unit of equity oriented fund or unit of business trust liable for securities transaction tax. Enhanced surcharge shall not apply to capital gains arising on sale of any security including derivatives, in the hands of Foreign Portfolio Investors. Watch Sitharaman video below: Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019, No tax on buy-back of shares in case of such companies: Union Minister @nsitharaman pic.twitter.com/NHf6QRPcZv — PIB India (@PIB_India) September 20, 2019 7. To provide relief to companies which continue to avail exemptions and incentives, rate of Minimum Alternate Tax has been reduced from existing 18.5% to 15%. 8. Relief to listed companies which have already made a public announcement of buy-back before 5th July 2019, No tax on buy-back of shares in case of such companies. Watch Sitharaman video below: Stabilising flow of funds into the capital market Enhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT pic.twitter.com/IEt7Yr0R7v — PIB India (@PIB_India) September 20, 2019 9. Enhanced surcharge under Finance (No.2) Act, 2019 not to apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for STT. 10. To provide relief to listed companies which have already made a public announcement of buyback before July 5, 2019, tax on buyback of shares in case of such companies shall not be charged. 11. Govt. has decided to expand the scope of 2% spending on CSR; this can now be spent on incubators funded by central/state governments, or any agency or PSU of central/state govt, and making contribution to publicly funded universities. Watch Sitharaman video below: Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year: Union Minister @nsitharaman pic.twitter.com/0qGckFrzfn — PIB India (@PIB_India) September 20, 2019 12. Total revenue foregone for the reduction in corporate tax rate and other relief: 1 lakh 45 thousand crores rupees per year.  

Whopping Rs 1.45 lakh crore GIFT: FM Nirmala Sitharaman has proposed to slash corporate tax for domestic companies and new domestic manufacturing companies.