Government Calls for Comments on Proposed Plan of Phasing-Out Exemptions and Deductions under the Income-Tax Act in Order to Bring Down Rate of Corporate Tax from 30% to 25%

Government Calls for Comments on Proposed Plan of Phasing-Out Exemptions and Deductions under the Income-Tax Act in Order to Bring Down Rate of Corporate Tax from 30% to 25% https://www.taxtmi.com/news?id=15205 The Government proposes reducing corporate tax while implementing a systematic phasing-out of exemptions and deductions, targeting profit linked, investment linked and area based deductions for corporate and non corporate taxpayers, discontinuing weighted deductions, preserving existing statutory sunset dates, and introducing a uniform sunset date for incentives lacking terminal dates; details are on the tax department website and stakeholders are invited to comment to the designated Director. en-us Fri, 20 Nov 2015 17:53:26 +0530 Fri, 20 Nov 2015 17:53:26 +0530 TaxTMI RSS Generator Government Calls for Comments on Proposed Plan of Phasing-Out Exemptions and Deductions under the Income-Tax Act in Order to Bring Down Rate of Corporate Tax from 30% to 25% https://www.taxtmi.com/news?id=15205 The Government proposes reducing corporate tax while implementing a systematic phasing-out of exemptions and deductions, targeting profit linked, investment linked and area based deductions for corporate and non corporate taxpayers, discontinuing weighted deductions, preserving existing statutory sunset dates, and introducing a uniform sunset date for incentives lacking terminal dates; details are on the tax department website and stakeholders are invited to comment to the designated Director. News - Fri, 20 Nov 2015 17:53:26 +0530 https://www.taxtmi.com/news?id=15205