<h1>India Proposes Corporate Tax Rate Cut from 30% to 25% Over Four Years, Aiming for Economic Growth.</h1> Tax rates in major Asian countries vary significantly, with India's corporate tax rate at 34.61% and individual income tax at 33.91%, both above the regional average. The effective corporate tax rate in India is approximately 23% after accounting for exemptions and deductions. The Indian government is considering reforms to reduce the tax burden, proposing a reduction in the corporate tax rate from 30% to 25% over four years, alongside a gradual removal of exemptions and deductions. This proposal was highlighted by a government official in a response to a parliamentary question.