<h1>India's Proposed Tax Code: Corporate Tax at 25%, Individual Max at 30%, MAT Introduced for Corporations.</h1> In the proposed Direct Tax Code in India, the Finance Minister suggests a corporate tax rate of 25%, while the maximum marginal tax rate for individuals is set at 30%. Unincorporated non-individual entities will maintain a 30% tax rate. The proposal raises questions about potential corporatization of proprietorships and partnerships. Corporations face a new Minimum Alternate Tax (MAT) of 2% on gross assets, potentially impacting profitability. Additionally, the Dividend Distribution Tax poses challenges for non-corporate entities considering conversion to corporate status. The corporate sector is surprised by these changes, which could significantly affect financial outcomes.