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Rajya Sabha okays move to lower corporate tax rates

Dec 05, 2019 21:57 IST

The Rajya Sabha on Thursday gave its consent to the Taxation Laws (Amendment) Bill, 2019, replacing an ordinance that was used to slash corporate tax rates to stimulate growth. As per rules, the Rajya Sabha cannot amend money bills but can recommend amendments. A money bill must be returned to the Lok Sabha within 14 days, or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha. "Cutting down corporate tax is not just good for headlines ,not just good PR, not just good atmospherics, it's good reform.This govt now in 2nd term,after taking up lot of reformatory steps in 1st term is committed to further reforms," Nirmala Sitharaman said.

National