India Inc for lower corporate tax in pre-Budget meet with FM

Finance Minister is scheduled to present Union Budget 2018-19 on February 1.

In a pre-Budget meeting convened by Finance Minister Arun Jaitley on Wednesday, industry leaders have asked for lowering corporate tax rate as well as providing incentives to attract fresh investments in the country.
 
They suggested that corporate tax can be lowered to 18-25 per cent from 30 per cent at present.
 
"Finance minister has promised 25 per cent corporate tax rate long back and we expect that he will fulfil his promise in this budget," Ficci President Pankaj Patel told PTI.
 
CII said the road map should include reducing the corporate tax rate to 18 per cent (all inclusive) as soon as possible, after doing away with tax incentives and exemptions and withdrawal of surcharges and cesses.
 
Assocham President Sandeep Jajodia, too, called for reduction in corporate tax to 25 per cent on the lines of developed and industrialised nations.
 
Finance Minister is scheduled to present Union Budget 2018-19 on February 1. 
 
Source: Business Standard

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