Reduction in corporate tax rates to ultimately usher in job opportunities

 Reduction in corporate tax rates to ultimately usher in job opportunities

Union finance minister Arun Jaitley has proposed several aspects with regard to tax laws and non-adversarial tax regime.
Rate of Tax: Corporate tax rates reduced from 30% to 25% up to 4 years.
Deferral of GAAR is applicable for the period of 2 years.
Indirect Transfer Provision is proposed to insert certain curative amendments
Real Estate Investment Trust (REITs) is removed to pay for capital gains tax exemption
Test of Residential Status of Company: This budget proposed a concept that Place of Effective Management (‘POEM’) which means where key management and commercial decisions that are necessary for the conduct of the business of an entity as a whole are, in substance made.
Manufacturing sector and Job Creation : This budget proposed incentives for the states Andhra Pradesh and Telanagna

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