Minimum Corporate Tax Presented by Rajiv Gandhi in 1987-88
Former Prime minister Rajiv Gandhi presented Minimum Corporate tax in union budget in 1987-88 as finance minister. The governemt estimates 75 crores extra revenue income from this tax only. here you know why government implement this tax in year 1987-88
Jan 20, 2022, 18:28 PM IST
At Rs 1.45K crore, govt's burden for reducing corporate tax is 33% of FY19-20 defense budget
The total estimated expenditure to be born by the government is 33.64 percent of India's total Defense Budget at Rs 4,31,010.79 crore.
Sep 20, 2019, 15:38 PM IST
How India Inc reacted to FM Nirmala Sitharaman's announcement on corporate tax, MAT rate cuts
The Finance Ministry on Friday announced that corporate tax rates will be slashed to 22 percent for domestic companies and 15 percent for new domestic manufacturing companies.
Sep 20, 2019, 12:54 PM IST
Corporate tax rates slashed to 22% for domestic companies, 15% for new domestic manufacturing companies
The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.
Sep 20, 2019, 11:24 AM IST
India needs single corporate tax rate of 25%: KPMG
The report titled "India: Redefining its growth path" observed that the Minimum Alternate Tax (MAT) should be withdrawn and Dividend Distribution Tax (DDT) should be replaced by the witholding tax.
Aug 26, 2019, 15:02 PM IST
Commerce Ministry to consider 62 SEZ projects for cancellation
Delhi State Industrial & Infrastructure Development Corporation, Lark Projects, Mansarovar Industrial Development Corporation and Diamond IT Infracon have neither applied for LoA nor for notification of SEZ.
Jun 26, 2017, 16:06 PM IST
1% cut in corporate taxes to cost exchequer Rs 15K crore: Adhia
Finance Ministry on Thursday said it refrained from reducing the corporate tax rate by 1 percent in 2016-17 Budget as it would have resulted in revenue sacrifice of Rs 15,000 crore and impacted the fiscal consolidation programme.
Mar 03, 2016, 22:20 PM IST
Budget 2016: Exempt REITs from DDT, stamp duty, says CBRE
Real Estate Investment Trusts should be exempted from the dividend distribution tax and stamp duties in the upcoming Union Budget so as to make them attractive to domestic and foreign investors, says property consultant CBRE.
Feb 17, 2016, 17:15 PM IST
Commerce Ministry hopes for SEZ tax benefits in Budget 2016
The Commerce Ministry has suggested the removal of minimum alternate tax (MAT) on these zones in the Budget.
Feb 10, 2016, 15:59 PM IST
Withdrawal of SEZ tax sops to hit exports, jobs: Trade body
The government should not withdraw any tax incentives from special economic zones as it might adversely impact exports and job creation, EPCES, a trade promotion body, Tuesday said.
Dec 08, 2015, 20:03 PM IST
Govt stands by its MAT circular in Supreme Court
In a relief to foreign investors, Government on Wednesday told the Supreme Court that it stood by its circular exempting them from paying minimum alternate tax (MAT) if they do not have a permanent establishment in India.
Sep 30, 2015, 19:36 PM IST
MAT exemption to foreign cos will boost investor confidence: FinMin
Finance Ministry Thursday said the decision to exempt foreign companies which do not have a permanent establishment from payment of MAT will boost investor confidence.
Sep 24, 2015, 23:22 PM IST
Govt to amend I-T Act to exempt foreign firms without PE from MAT
In a big relief to foreign firms, government on Thursday said the I-T Act will be amended with retrospective effect to exempt overseas companies which do not have a permanent establishment in India from paying MAT.
Sep 24, 2015, 16:52 PM IST
Jaitley seeks foreign investments for infra, other sectors
Having put the MAT controversy to rest, Finance Minister Arun Jaitley is now seeking to attract foreign investors, including large asset managers, to the Indian markets.
Sep 20, 2015, 12:57 PM IST
'Decision to scrap MAT will boost India's investment position'
Industry body CII Wednesday said the government's announcement that minimum alternate tax will not be imposed on overseas portfolio investors retrospectively will boost India's position as a favourable investment destination, help reduce litigation and resolve disputes.
Sep 02, 2015, 20:09 PM IST
Govt accepts Shah panel report, says no retrospective tax on FIIs
The government has decided to amend the Income Tax Act to clarify the issue with regard to levy of MAT on FIIs and in the meantime CBDT field officers will be asked not to pursue cases against FIIs.
Sep 01, 2015, 22:56 PM IST
CBDT to soon issue instructions on MAT issue
With the Justice A P Shah panel recommending non-applicability of Minimum Alternate Tax (MAT) on FIIs, the revenue department is likely to soon issue instructions to field officer not to pursue pending cases against foreign institutional investors.
Sep 01, 2015, 19:25 PM IST
Govt may soon come out with circular on relief to FIIs on MAT
The Revenue Department may soon come out with a circular on providing relief to FIIs from the minimum alternate tax (MAT) with retrospective effect.
Aug 24, 2015, 22:25 PM IST
