Finance Minister’s Budget announcement- phasing out plan of deductions under the Income-tax Act

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....ax Act-reg. Finance Minister's Budget announcement- phasing out plan of deductions under the Income-tax Act-reg-. The Union Finance Minister Shri Arun Jaitley in his Budget Speech 2015 had indicated that the rate of Corporate Tax will be reduced from 30% to 25% over the next four years along with corresponding phasing-out of exemptions and deductions. This is a step towards simplification of tax....