September 23, 2019

Corporate Tax Reduction to Bolster Indian Economy

Rakesh Reddy, Director, Aparna Constructions, Multiple Sources

3 months after presenting the Budget that was hailed as development-friendly and future-oriented, Finance Minister Nirmala Sitharaman, announced cutting down the Corporate Tax Rate to 25.17% to bring it at par with other Asian countries such as China and South Korea but at the expense of potentially breaching the 3.3 % fiscal deficit target.

“Amid growing concerns over the economic slowdown, the Government announced a wide array of tax exemptions to promote investment and growth. These tax concessions will encourage investments, bolster the Make in India initiative, boost employment and invariably improve economic activity, thus leading to more revenue overall,” said our Director Mr. Rakesh Reddy.

His views on the tax reduction were covered by multiple information portals. Click on the links given below to read more: