Finance Minister Nirmala Sitharaman proposed to slash corporate tax for domestic companies and new domestic manufacturing companies Ordinance for cutting tax rate has been passed and corporate tax rate will be 22 percent without exemptions, Finance Minister said, adding effective corporate tax rate after surcharge will be 25.17 percent. To attract investment in manufacturing, local companies incorporated after October 2019 will pay tax at 15 percent, FM said, adding effective tax for new companies shall be 17.01 percent, including cess & surcharge. Astral Poly Technik crashes over 16% on block deal -- 2.54% equity of Astral Poly exchanges hands-on NSE & BSE. Shares of Astral Poly Technik tanked around 17 percent to Rs 960 apiece on the BSE -- its biggest fall in the past four years -- in the early morning deals on Friday after nearly 3 percent equity of the company changed hands via block deals. Morepen Labs rallies 9% -- The company approved the is...
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