Important Income Tax (Direct Tax) Amendments (since 2019)
The government has announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961, and the Finance Act (No. 2), 2019. The following measures have been measures taken by the Ministry of Finance: • Reduction in the corporate tax rate from 30% to 22% provided the company did not avail of any exemption or incentive. • An option to pay income-tax at the rate of 15% for the new domestic companies…