Share market observes a jump of 1600 points after FM's announcement on corporate tax

20 Sep 2019 12:02 PM

Share market observes a jump of 1600 points after FM's announcement on corporate tax

Updated 20 Sep 2019 12:02 PM

In a major bonanza for corporates as part of measures to promote growth and investment, Finance Minister Nirmala Sitharaman on Friday announced to slash corporate tax rate to 22 per cent for domestic companies and 15 per cent for new domestic manufacturing companies, besides other fiscal reliefs.
The effective tax rate for these companies would now be 25.17 per cent, inclusive of surcharge and cess. Also, such companies shall not be required to pay Minimum Alternate Tax (MAT).

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