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PRESIDENT’S MESSAGE



CA. ANAND SATYADEO SHARMA, President
Chartered Accountants Association, Ahmedabad

Dear Professional Members,

Honourable The Finance Minister Nirmala Sitharaman slashed the corporate tax rate for domestic companies to 22% from 30%, and even lower to 15% for new manufacturing companies that will be incorporated on or after 1st October 2019. The effective tax rate, including surcharge and education cess, will be 25.17% and 17.16%, respectively. This bold move by the government is aimed to spur investment, revive growth and boost job creation. With the debate raging over structural problems in the Indian economy, the direct tax reform will help companies improve their valuations the medium term. The government hopes that a lower tax rate shall encourage corporates to invest further into future capacities.....


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