{"id":68669,"date":"2019-08-21T11:52:52","date_gmt":"2019-08-21T11:52:52","guid":{"rendered":"http:\/\/blastingskyhawk.com\/?p=68669"},"modified":"2019-08-21T11:52:53","modified_gmt":"2019-08-21T11:52:53","slug":"govt-panel-recommends-corporate-tax-cut-to-25-from-30-for-all-companies","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/govt-panel-recommends-corporate-tax-cut-to-25-from-30-for-all-companies\/","title":{"rendered":"Govt panel recommends corporate tax cut to 25% from 30% for all companies"},"content":{"rendered":"\n<p>An Indian government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul of the six-decades old tax act.<\/p>\n\n\n\n<p>India has one of the highest corporate tax rates in the world even after Finance Minister Nirmala Sitharaman this year cut the rate to 25% from 30% for companies with annual sales of up to 4 billion rupees.<\/p>\n\n\n\n<p>The panel headed by Akhilesh Ranjan, a member of the central board of direct taxes, delivered its report to Sitharaman on Monday. It was not made public and a finance ministry spokesman declined to comment on its contents.<\/p>\n\n\n\n<p>\u201cThe committee has said the government should move away from surcharges on income and reduce corporate tax to 25%,\u201d the source who declined to be identified told Reuters.<\/p>\n\n\n\n<p>India imposes a 30% corporate tax rate on domestic companies and 40% on foreign firms, plus a 4% health and education surcharge on total tax payments.<\/p>\n\n\n\n<p>It also charges a surcharge of 12% for domestic companies and 5% for foreign companies if their taxable income exceeds 100 million rupees, according to Deloitte, a global tax consultancy.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>An Indian government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul of the six-decades old tax act. India has one of the highest corporate tax rates in the world even after Finance [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":68670,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-68669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/68669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=68669"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/68669\/revisions"}],"predecessor-version":[{"id":68671,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/68669\/revisions\/68671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/68670"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=68669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=68669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=68669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}