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Income Tax Consultant in Shahdara

Corporate Tax Major Announcments for Domestic Companies

1. Corporate tax slashed to 22%

  • For Companies not seeking incetives/exemptions
  • No Minimum Alternate Tax
  • Effective Tax Rate 25.17%

2. Domestic Companies incorporated on or after 1 Aug 2019

  • To be taxed at 15% (Only if production begins before 31st March 2023)

3. MAT Slashed to 15%

  • For Companies availing exemption

4. 1.25 % CSR Spending Allowed

  • On center/state/PSU incubators and public funded universities

5. No Tax on Buy-Backs

  • announced by listed companies before 5th July 2019

6. No enhanced surcharge

  • on capital from the sale of equity share in a company

Tags : #Corporate Law Compliance#Corporate Tax#Income Tax Rate#Change in Corporate Tax Rate#Cut in Corporate Tax Rate

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