Concessional 15 pc corporate tax rate to be available till FY24 for newly incorporated mfg firms


PTI, Feb 1, 2022, 1:02 PM IST

Finance Minister Nirmala Sitharaman on Tuesday said a concessional corporate tax rate of 15 per cent would be available for one more year till March 2024 for newly incorporated manufacturing companies.

She also proposed a 30 per cent tax on income from transfer of virtual digital assets. One per cent tax deducted at source (TDS) on transfer of virtual assets above a threshold, gifts would be taxed, the minister said.

The Prime Minister’s Development Initiative for North East will be implemented through the North Eastern Council, with an initial allocation of Rs 1,500 crore, she added.

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Latest Additions

Special tribute concert for legendary singer SPB to be held in Bengaluru on Dec 8

Bengaluru Airport hosts Karnataka Rajyotsava celebration

Bengaluru Hubba to kickstart with folk dance performance by 500-member troupe

Karnataka cabinet clears bill to increase labour welfare corpus fund

Molestation case registered against Karnataka Cong general secretary Gurappa Naidu

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