Tax proposals promote economic growth

08 JUL,2019 | MEDC


 

There will henceforth be a flat 25% tax on companies with a turnover up to Rs. 400 crore (from the earlier cap of Rs. 250 crore). This covers over 99% of enterprises in the country, and this move will surely benefit industry. There is an additional income tax deduction of Rs. 1.5 lakh to the buyers of electric vehicles. This will promote the use of this non-polluting mode of transport in the country. There is also an additional Rs. 1.5 lakh deduction on housing loans. Tax rates have been raised only for the richest, and the fiscal proposals do promote compliance and competitiveness.

*Photo Credit: Google

Comments



Featured Posts



Recent Posts


EMERGING ISSUES IN AEROSPACE INDUSTRY: AN INDIAN PERSPECTIVE


Tourism and its contribution to the Economy


Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra


De-coding skills-based pro-bono


FOOD PRICE VOLATILITY


Food Inflation in India: An Assessment




Archive




© Copyright 2019 MEDC, All rights reserved
Website Design and Develop By: SCI Knowledge Interlinks