Budget 2017: Five things to know about Corporate Tax
Shital Jibhe / 01 Feb 2017
Finance Minister Arun Jaitley on Wednesday during his Budget speech stated the following points.
Finance Minister Arun Jaitley on Wednesday during his Budget speech stated the following points:
- Corporate tax on medium and small enterprises having turnover of less than Rs 50 crore to 25 per cent from earlier close to 30 per cent.
- Reduction in proposed tax rate will benefit 96 per cent of the company paying taxes.
- No corporate tax rate cut for listed companies.
- Minimum Alternative Tax (MAT) would be accepted to carry forward for 15 years from current 10 years.
- Long-term capital gains tax on equity investment untouched as has been in the case of Securities Transaction Tax (STT) and other taxes.
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