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Support 5% tax reduction for firms with turnover of up to ₹50 crore
Rajasthan govt’s gift to newlyweds: Contraceptives and vanity kits
January 4, 2017
Zero tax liability for people earning up to ₹3 lakh
February 1, 20175% tax reduction for firms with turnover of up to ₹50 crore
Finance Minister Arun Jaitley in his budget speech on Wednesday said income tax for small companies with annual turnover of up to ₹50 crore will be reduced to 25% from 30% earlier. Around 96% of the companies in India will benefit from the lower tax. Further, startups will have to pay tax on profits for three out of seven years.
