The pharmaceutical industry has urged the Union finance ministry to extend the benefit of reduced tax rate of 22 per cent under Section 115BAA of Income Tax Act to non-corporate assesses viz.

The Central Board of Direct Taxes (CBDT) has condoned delays in filing Form No 10-IC within stipulated and extended deadlines by domestic companies, it said in a circular on October 23. The CBDT is ...

The section does not provide any timeline for companies to opt for the new regime of lower tax rate. New Delhi: The finance ministry on Wednesday said companies opting for the lower corporate tax rate ...

The Income Tax Appellate Tribunal’s recent ruling in Maharishi Education Corporation (P.) Ltd. vs ITO (Delhi Bench, SMC) may seem, at first glance, like an obscure dispute about how a particular ...

Bajaj Electricals has received the demand notice from the I-T Department over paying a reduced corporation tax rate under Section 115BAA of the IT Act for AY 2022–23, which came into effect for ...

The concessional corporate tax rate of 22% introduced in 2019 is still to be chosen by large sections of India Inc. This is because many companies, including large ones, find either the Minimum ...

The government-owned Oil and Natural Gas Company (ONGC) has finally opted for the lower tax of 22% resulting in a decrease of Rs 1,304 crore in current taxes, and a reduction of Rs 8,541 crore in ...