FE
The government may take a “fresh call” on extending the sunset date for the concessional 15% corporate tax for new manufacturing units beyond March 31, after the general election, Central Board of Direct Taxes Chairman Nitin Gupta told FE on Friday.
“Anything can happen (on the concessional tax). If there are demands for the extension of the sunset date, it could be considered after the polls. But as of now, this is the position of the government,” Gupta said.
Industry leaders and leading tax consultants were hopeful that the government will grant an extension to the sunset date, at least by a year, as a non-extension may discourage fresh private investments in the economy. From April 1, any new manufacturing unit set-up will be required to pay corporate tax at 22%.
