ANI
21 Sep 2019, 01:03 GMT+10
New Delhi [India], Sep 20 (ANI): Bahujan Samaj Party (BSP) chief Mayawati on Friday raised questions over the Finance Minister Nirmala Sitharaman's bonanza to the corporate sector by slashing tax on companies.
"The Central Government is terming the reduction in corporate tax announced today as historic and claiming that it will end the country's economic slowdown and crisis. May it be so and the serious crisis that has come over people's livelihood should end.
"But the basic question is, why did we take such a step earlier which has to be taken back now?" she said in tweets.
The BSP chief's comments came hours after Sitharaman announced tax cuts and fiscal reliefs saying that domestic corporate tax has been slashed to an effective 25.17 per cent, inclusive of all surcharges and cess. The move would cost the exchequer Rs 1.45 lakh crore.
The changes in the Income Tax Act have been brought through an ordinance.
Sitharaman said manufacturing companies set up after October 1 will have the option to pay 15 per cent tax and effective tax rate for new manufacturing firms will be 17.01 per cent inclusive of surcharge and tax. (ANI)
Get a daily dose of Kolkata Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kolkata Sun.
More InformationBOISE, Idaho: Idaho authorities said that four people died when the vehicle they were traveling in collided with a train ...
DENVER, Colorado: On April 14, Colorado's Democratic-controlled House passed a bill by a vote of 35-27 banning the sale and ...
COLUMBIA, South Carolina: Federal prosecutors said that Christine Mary Livingston, supervisor in a South Carolina prison, accepted more than US$219,000 ...
Israel has established a new police force to stamp out peace activism in the West Bank. National Security Minister Itamar ...
WASHINGTON, D.C.: As Moscow's invasion into Ukraine has dragged on for more than two years, the U.S. and the UK ...
LOS ANGELES, California: Last week, the former interpreter of Japanese baseball star Shohei Ohtani was charged with bank fraud and ...
YANGON, Myanmar - Singapore responded to UN pressure by restricting weapons sales via its territory to Myanmar, dealing a significant ...
KATHMANDU, Nepal - Farmers are in desperate straits as locally produced honey fails to find a market, with some considering ...
Mullanpur (Punjab) [India], April 19 (ANI): Following the brilliant performance against the Punjab Kings (PBKS) in the Indian Premier League ...
New Delhi [India], April 19 (ANI): Mumbai Indians opener Rohit Sharma expressed his feelings on the Impact Player rule, saying ...
New Delhi [India], April 19 (ANI): IndiGo airline issued a travel advisory to passengers on Thursday night due to bad ...
New Delhi [India], April 19 (ANI): As the voting for the high-octane Lok Sabha Elections begins today, Chief Election Commissioner ...