Software isn’t manufacturing, won’t be eligible for 15% tax rate

The amendment comes after industry sought clarity on whether software development could be treated as manufacturing and be eligible for the reduced tax rate. On September 20, FM Sitharaman slashed the corporate tax rate to 22% for companies that do not seek exemptions or incentives, and to 15% — from the current 25% — for new manufacturing companies.

from Economy-News-Economic Times https://ift.tt/37fXu0z
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