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Taxation

Nirmala Sitharaman, Infra Banking & Finance

Budget May Offer Flat Tax Rate to Individuals Also

The new structure would be similar to tax rates proposed by Finance Minister Nirmala Sitharaman late last year where the base corporate tax rate was reduced to 22 per cent from 30 per cent for companies that agreed to forgo all exemptions and incentives. The tax was kept at an even lower rate of 15 per cent for new manufacturing companies.

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