Government May Cut Corporate Tax By 1%: Budget 2016-17
Feb 20, 2016: The Budget Day is coming soon. Experts are expecting 1% cut in corporate tax by the government. Finance minister Mr. Arun Jaitley may cut corporate tax in his budget on Feb 29, 2016.
"To begin with, one per cent cut in the corporate tax rate, the gradual phasing out of accelerated tax depreciation and a sunset clause for the tax deductions, coupled with a reduction in MAT, will set the tone for this year's Budget," KPMG (India) Partner Tax Vikas Vasal said.
In the last budget, Mr. Arun Jaitley had announced the cut in corporate taxes over four years from 30 per cent to 25 per cent.
Our finance minister Mr. Jaitley is going to present the annual budget 2016-17 on February 29, 2016. The country is expecting a lot of improvements in tax laws.