Post demonetisation, budget to offer tax cuts for SMEs

With the impact of demonetization on SMEs, FM is likely to provide tax cuts to boost the SMEs businesses that have faced the hardships in the past few months. We have seen that in the last year’s budget of 2016 with the launch of Make in India initiative and introducing a lower tax rate at 25 percent for the manufacturing companies, if set-up and registered after March 1, 2016 and does not claim any tax incentives.

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