Baba Ramdev’s mega fast moving consumer goods (FMCG) firm, Patanjali recently collaborated with e-commerce platforms to expand the reach of its products. The Yoga guru also declared his plan to continue Patanjali as a non-governmental organization (NGO). However, what if Patanjali was a regular company that falls under the ambit of corporate tax?
Corporation tax is a tax levied on the net income of the company. Businesses, both private and public, which are registered in India under the Companies Act 1956, are liable to pay corporate tax currently pegged at 30%. Finance Minister Arun Jaitley in his last Union Budget talked about lowering corporate income tax to 25% in a span of four years for companies registering annual revenue of Rs 50 crore or less. The announcement is yet to be put in practice.
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