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Nirmala Sitharaman Announces Reductions In Corporate Tax: What is Corporate Tax?

INDIA Team Latestly|

Corporation tax is a tax imposed on the net income of the company. Finance Minister Nirmala Sitharaman on September 20 slashed the effective corporate tax from 30 percent to 25.17 percent, inclusive of all cess and surcharges for domestic companies. However, the move, effective from April 1, is subject to the condition that they will not avail any other incentive or exemptions.