15% Reduced Rate Corporation Tax Extended to FY24
She also proposed a 30% tax on virtual digital asset transfer income

Finance Minister Nirmala Sitharaman said on Tuesday that a concessional corporate tax rate of 15% would be available for one more year until March 2024 for newly incorporated manufacturing companies.
She also proposed a 30% tax on income from the transfer of virtual digital assets. A one percent withholding tax (TDS) on transfers of virtual assets above a threshold, donations would be taxed, the minister said.
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The Prime Minister’s Development Initiative for the North East will be implemented through the North East Council, with an initial allocation of Rs 1,500 crore, she added.
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