Govt. slashes corporate tax to 25.17% for domestic companies
- In a major fiscal booster, the government slashed effective corporate tax to 25.17% inclusive of all cess and surcharges for domestic companies.
- Making the announcement, Finance Minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1.
- The revenue foregone on reduction in corporate tax and other measures will be ?1.45 lakh crore annually.