Nirmala Sitharaman cuts corporate tax rate on domestic companies; Resulting in revenue loss of 1.4 lakh crore

Finance minister Nirmala Sitharaman slashed effective corporate tax from 35 percent to 25.17 percent inclusive of all cess and surcharges for domestic companies, she made the announcement in a press conference on Friday. Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1. This change will be […]