<h1>Lok Sabha Approves Taxation Laws Bill 2019: Cuts Corporate Tax Rates to Boost Economic Growth and Investment.</h1> The Lok Sabha passed The Taxation Laws (Amendment) Bill, 2019, on December 2, 2019. This bill aims to amend the Income Tax Act, 1961, and the Finance Act, 2019. It introduces changes to corporate tax rates, providing an option for domestic companies to pay tax at reduced rates if they forgo certain exemptions and incentives. This legislative move is part of the government's broader strategy to stimulate economic growth by making India a more attractive destination for investment through a competitive tax regime.