Know what corporate tax looks like in other countries around the globe?
The market cheered as govt slashed corporate taxes. Corporate tax is a direct tax levied on net profit that corporate enterprises make from the business. FM Sitharaman told that a domestic firm could pay income tax at 22% if they don't seek an exemption or incentives & inclusive of surcharge, the effective tax on Indian firms will be 25.17%. This led to Sensex & Nifty witnessing their highest ever single-day gain in 10 years.