Additionally, small companies with turnover of less than Rs 5 crore would be taxed at a lower rate of 29% from 2016-17 onwards. These measures are expected to bring down the corporate tax rates in an even manner.
World corporate tax rates
World corporate tax rates
In the Union Budget 2016-17, the central government has allowed new companies formed after first March 2016 to be taxed at 25% provided they do not claim any tax benefits.
Additionally, small companies with turnover of less than Rs 5 crore would be taxed at a lower rate of 29% from 2016-17 onwards. These measures are expected to bring down the corporate tax rates in an even manner.
Additionally, small companies with turnover of less than Rs 5 crore would be taxed at a lower rate of 29% from 2016-17 onwards. These measures are expected to bring down the corporate tax rates in an even manner.
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