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Corporate tax rates slashed as govt announces Rs.1.45L crore stimulus

Friday, September 20, 2019, 11:52 AM

Finance Minister Nirmala Sitharaman on Friday proposed to reduce corporate tax rates for domestic companies and new manufacturing companies ahead of the 37th GST Council Meeting. She added domestic companies would have option to pay income tax at 22% if they don't avail any exemptions or incentives from financial year 2020. This is being done to promote growth, she stated.
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India will not ban petrol, diesel vehicles: Transport minister

Thursday, September 5, 2019, 5:55 PM

The union government will not ban conventional internal combustion engine-driven vehicles to promote electric mobility while also looking at reducing taxes on hybrids to boost demand in the short term, said Nitin Gadkari, union minister for road transport and highways, at the annual convention of the Society of Indian Automobile Manufacturers (SIAM).
 
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Delay in TDS deposit lands Mumbai businessman in jail

Thursday, July 11, 2019, 11:01 AM

More than a year's delay in depositing tax deducted at source (TDS) landed a big Mumbai businessman with a prison sentence of three months. A local court has held a company and its director, Omprakash Goenka, guilty of delayed deposit to the Central government repository of around Rs 55 lakh collected as TDS and sentenced him to three months' rigorous imprisonment.

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