Indian Government giving tax benefits to few chosen big corporate
Indian Government giving tax benefits to few chosen big corporate. Elaborate and quote the instants. The Indian government has, at various times, introduced tax benefits and incentives for corporations, often with the aim of promoting economic growth, attracting foreign investment, and encouraging specific sectors. However, critics have argued that some of these benefits disproportionately favor large corporations, potentially leading to concerns about equity and fairness in the tax system. Below are some instances and explanations of such tax benefits: 1. Corporate Tax Rate Reduction (2019) What Happened? In September 2019, the Indian government reduced the corporate tax rate for domestic companies from 30% to 22% (effective tax rate reduced to 25.17% including surcharges). For new manufacturing companies, the rate was slashed to 15% (effective tax rate of 17.01%). Rationale: The move was aimed at boosting investment, reviving economic growth, and making India ...
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