Today has been an Historic Day for Indian Stock Market
Sensex gains 2,000 pts, Nifty posts biggest ever single day gain after corporate tax cut
Can these Kind of Rallies be predicted
We made this video yesterday Showing the effect of Astro date and Neural Analysis. We are happy market obliged us and we were able to get maximum out of the move.
What a day it has been for corporates, the equity market and consumers. The government, like in a T20 game, opted for some serious hitting and managed to hit it out of the park as it announced a string of measures to lift the economy.
- Domestic firms incorporated on or after October 1, 2019 that want to make fresh investment in manufacturing will have an option to pay income tax at 15 per cent, Ms Sitharaman said at a press briefing in Goa.
- She said the new effective tax rate will be reduced from 35 per cent to 25.2 per cent, which includes all surcharges and is applicable on those companies that aren’t availing any incentives. If calculated without the charges, the tax rate cut works out to 22 per cent from 30 per cent.
- The new tax structure is effective from April 1, 2019. This change will be made through an ordinance to amend the Income Tax Act, 1961, she said. The centre will have to bear a cost of Rs. 1.45 lakh crore this fiscal to support its decision to reduce corporate tax, Ms Sitharaman said.
- Any advance tax paid will be adjusted, the Finance Minister said. The new companies won’t have to pay minimum alternate tax (MAT), the Finance Minister said. MAT targets “zero-tax companies” that do not pay any tax due to concessions and incentives despite having earned substantial profits and paid high dividends.