Nirmala Sitharama Current Affairs, GK & News

MCA amends the Definition of Small Companies

The ministry of corporate affairs (MCA) has amended definition of the small companies by amending the Companies Rules. The new amendment allows the non-resident Indians (NRIs) to incorporate one person companies (OPCs) in India. Highlights The changes were announced by finance minister Nirmala Sitharaman during the presentation of Union budget. These changes will come into ..

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Union Budget 2021-2022- Summary

The 2021-22 Union Budget was presented amid the COVID-19 pandemic on February 1, 2021. Since the 2020 budget, the Indian economy have reduced from 2.24 lakh crore nominal GDP to Rs 1.94 lakh crore. This reduction in the size of the economy was due to the lower revenue growth and higher expenditure in the year ..

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Centre cuts Corporate Tax Rate for domestic investors

The Centre government has cut the effective corporate tax rate for existing domestic companies to 25.17% (from 34.94% now) and for new domestic companies, it will be 15% now. For this purpose the government has brought in Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in Income-tax Act 1961 and Finance (No. 2) Act ..

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