stimulus package by FM:
A blockbuster Friday for the market. FM Nirmala Sitaramn announced stimulus package for corporates. It may result in a turn around in the economy. Trading cycle, investment cycle and sentiment revival is on the focus. Stimulus package by FM is going to have long term impact. Following is a brief list of announcements.
- The tax rate for corporates is reduced to 22%. This cut is with a condition that they won’t claim any exemption or incentive.Also, such companies shall not be required to pay Minimum Alternate Tax
- The tax rate for a new manufacturing company will be 15%. Companies incorporated after 1st October 2019 and engaged in manufacturing.
Text on Press release is here:
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![PIB 20 Sep 2019.pdf 2019-09-20 12-16-16](https://www.consultease.com/wp-content/uploads/2019/09/PIB-20-Sep-2019.pdf-2019-09-20-12-16-16.png)
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