After the tax cut

Union Finance Minister Nirmala Sitharaman surprised everyone on Friday by slashing the corporate tax rate. Indian companies not availing of any exemption can now pay 22 per cent tax. The effective rate with surcharge and cess for large companies has been brought down from 34.94 per cent to 25.17 per cent. Further, companies getting incorporated in the manufacturing sector from October onwards, and starting production by March 31, 2023, will have the option of paying an effective corporate tax of 17.01 per cent. While the government also extended relief for share buybacks and rolled back .....

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