India proposes to slash tax
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.India proposes to slash tax
The Indian government proposed slashing corporate and personal income taxes with a new budget plan.
Palaniappan Chidambaram, the Finance Minister, announced that the government planned to reduce the tax on domestic corporations to 35 per cent from 40 per cent, and to abolish a tax on dividends. Mr Chidambaram also proposed scrapping a 7.5 per cent surcharge on corporations. He added that the budget, which must be approved by parliament, would cut personal income- tax rates across the board and bring down the maximum rate to 30 per cent from 40. Reuters - New Delhi
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments