New Delhi, Sept. 20 -- In another positive and a bold step to help revive the economy from its slumber, the FM has slashed the corporate tax rates to 25.75% from earlier 30%. This big-bang move will have a rippling impact on all sectors including real estate as it will encourage foreign institutional investors to invest in the country.
In terms of taxation, India will now be at par with many of its Asian peers and hence a major draw for foreign investors who shied away from entering India due to high taxes.
The Indian stock exchange was quick to welcome the move and went on a surge within just an hour. The Sensex saw a gain of more than 1,800 points while Nifty jumped over 500 points. This is the highest intraday gain in a decade, giving ...