Corporate tax rate changes with maintained surcharge framework, marginal relief and a health and education cess applied to computed tax. The Bill sets differentiated corporate tax rates for domestic and non domestic companies, preserves optional lower-tax regimes for qualifying domestic ... Summary
Corporate tax rate changes with maintained surcharge framework, marginal relief and a health and education cess applied to computed tax.
The Bill sets differentiated corporate tax rates for domestic and non domestic companies, preserves optional lower-tax regimes for qualifying domestic companies, and reduces the non domestic base rate. It maintains surcharge bands for domestic and non domestic entities, provides marginal relief in surcharge computation, excludes surcharge on advance tax for certain specified funds, and imposes a Health and Education Cess on tax computed inclusive of surcharge without marginal relief for the cess.
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