Corporate Tax slashed for the Companies - Ravi Saxena (MD, Wonderchef)

The new tax structure announced by the finance minister ahead of the festive season is a big push for the home appliances sector which grows with the growth of economy and households. By announcing a reduction in Corporate Tax to 22 per cent for existing companies and 15 per cent for New Manufacturing Companies the government has answered a long-standing demand of the corporates. This would encourage the competitiveness of Indian manufacturing by minimising tax cash outflows which would be ploughed back into Economy. Not only will there be an increase in the domestic investments in the manufacturing sector but huge FDI inflow is also expected as the FM made it clear that foreign companies in a joint venture with Indian companies, having an office in India will also get tax benefits.

Mr Saxena is a successful serial entrepreneur and startup investor having more than 20 years of experience in Retail, Marketing and Sales.

Source : Equity Bulls

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