In the recent union budget,The tax rate of Corporate reduced to 25% from 30%. From Which year onwards its applicable ?
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Corporate tax rate
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In the Union Budget, 2015, it was proposed to reduce corporate tax from 30% to 25% over the next FOUR years, starting from next Financial Year.
YES,, agreed new tax rate will be applicable from a.y.2016-2017,,
But remember there will also be withdrawal of exemptions / deductions. So, in effect, it may not be a reduction of tax rate in all in real terms.
Regards,
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