Contact Your Financial Adviser Money Making MC
1
February 2018
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FM Arun
Jaitley(The Total Investment & Insurance Solutions)
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FM Arun
Jaitley has proposed a reduced rate of 25% to companies that have reported
turnover up to Rs250cr in financial year 2016-17. This will benefit the entire
class of Micro, Small and Medium Enterprises which accounts for almost 99% of
companies filing their tax returns.
Accepting Rs7,000cr as the estimated revenue forgone due to this measure during the financial year 2018-19, the Finance Minister, while presenting the General Budget 2018-19 in Parliament said, “This is towards fulfilment of my promise to reduce corporate tax rate in a phased manner.”
He further added, “The lower corporate income tax rate for 99% of the companies will leave them with higher investible surplus which in turn will create more jobs.” The Total Investment & Insurance Solutions
The Finance Minister recalled that in the Union Budget 2017, he had announced the reduction of corporate tax rate to 25% for companies whose turnover was less than Rs50cr in financial year 2015-16. This had benefitted 96% of the total companies filing tax returns. The Total Investment & Insurance Solutions
The Finance Minister also said that after this measure, out of about 7 lakh companies filing returns, about 7,000 companies which file returns of income and whose turnover is above Rs250cr will remain in 30% slabThe Total Investment & Insurance Solutions
Accepting Rs7,000cr as the estimated revenue forgone due to this measure during the financial year 2018-19, the Finance Minister, while presenting the General Budget 2018-19 in Parliament said, “This is towards fulfilment of my promise to reduce corporate tax rate in a phased manner.”
He further added, “The lower corporate income tax rate for 99% of the companies will leave them with higher investible surplus which in turn will create more jobs.” The Total Investment & Insurance Solutions
The Finance Minister recalled that in the Union Budget 2017, he had announced the reduction of corporate tax rate to 25% for companies whose turnover was less than Rs50cr in financial year 2015-16. This had benefitted 96% of the total companies filing tax returns. The Total Investment & Insurance Solutions
The Finance Minister also said that after this measure, out of about 7 lakh companies filing returns, about 7,000 companies which file returns of income and whose turnover is above Rs250cr will remain in 30% slabThe Total Investment & Insurance Solutions
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