DSIJ Mindshare

Budget 2017: Five things to know about Corporate Tax

Finance Minister Arun Jaitley on Wednesday during his Budget speech stated the following points:
 
-      Corporate tax on medium and small enterprises having turnover of less than Rs 50 crore to 25 per cent from earlier close to 30 per cent.
-      Reduction in proposed tax rate will benefit 96 per cent of the company paying taxes.
-      No corporate tax rate cut for listed companies.
-      Minimum Alternative Tax (MAT) would be accepted to carry forward for 15 years from current 10 years.
-      Long-term capital gains tax on equity investment untouched as has been in the case of Securities Transaction Tax (STT) and other taxes.

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