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Business News

Sep 21, 2019
12:32PM

US corporate sector lauds Indian govt for slashing IT rate to 25.17%

AIR PIC
The US corporate sector has lauded the Indian government for substantially slashing the income tax rate to 25.17 per cent. President of US India Strategic and Partnership Forum  Mukesh Aghi told Media that the move will make Indian companies globally competitive and allow global companies a good option for growing their manufacturing base in the country.

US-India Business Council President Nisha Biswal said, the move will provide a major boost to investor confidence, paving the way for the investments in India. The government yesterday slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent and offered a lower rate to 15.01 per cent for new manufacturing firms to boost economic growth. 
 

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