Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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                            <div align="justify">-Newsclick.in<br /><br /><em>Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents.<br /></em><br />There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out by the central government in Budget documents earlier this year shows that corporates are already paying much less than the statutory rates. In fact, the biggest corporate houses, with profits of more than Rs. 500 crore every year, pay only 26.3% tax although the statutory rate is 34.61%. <br /><br />These figures are for 2017-18 and contained in Annexure 7 of the Receipts Budget, presented in July this year by the newly elected Modi government. It is based on an analysis of 8,41,687 corporate returns filed up to March 31, 2019 for the financial year 2017-18 [assessment year 2018-19]. These companies reported corporate tax liability of Rs. 4.48 crore, inclusive of surcharge and education cess.<br /><br />Please <a href="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8" title="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Newsclick.in<br /><br /><em>Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents.<br /></em><br />There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out by the central government in Budget documents earlier this year shows that corporates are already paying much less than the statutory rates. In fact, the biggest corporate houses, with profits of more than Rs. 500 crore every year, pay only 26.3% tax although the statutory rate is 34.61%. <br /><br />These figures are for 2017-18 and contained in Annexure 7 of the Receipts Budget, presented in July this year by the newly elected Modi government. It is based on an analysis of 8,41,687 corporate returns filed up to March 31, 2019 for the financial year 2017-18 [assessment year 2018-19]. These companies reported corporate tax liability of Rs. 4.48 crore, inclusive of surcharge and education cess.<br /><br />Please <a href="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8" title="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Newsclick.in<br /><br /><em>Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents.<br /></em><br />There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out by the central government in Budget documents earlier this year shows that corporates are already paying much less than the statutory rates. In fact, the biggest corporate houses, with profits of more than Rs. 500 crore every year, pay only 26.3% tax although the statutory rate is 34.61%. <br /><br />These figures are for 2017-18 and contained in Annexure 7 of the Receipts Budget, presented in July this year by the newly elected Modi government. It is based on an analysis of 8,41,687 corporate returns filed up to March 31, 2019 for the financial year 2017-18 [assessment year 2018-19]. These companies reported corporate tax liability of Rs. 4.48 crore, inclusive of surcharge and education cess.<br /><br />Please <a href="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8" title="https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8">click here</a> to read more. <br /></div>                                                           
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Corporate tax reduction: They already pay much less than required effective -Subodh Varma

Published on Aug 22, 2019   Modified on Aug 22, 2019

-Newsclick.in Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents. There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out by the central government in Budget documents earlier this year shows that corporates are already paying much less than the statutory rates. In fact, the biggest corporate houses, with profits of more than Rs. 500 crore every year, pay only 26.3% tax although the statutory rate is 34.61%. These figures are for 2017-18 and contained in Annexure 7 of the Receipts Budget, presented in July this year by the newly elected Modi government. It is based on an analysis of 8,41,687 corporate returns filed up to March 31, 2019 for the financial year 2017-18 [assessment year 2018-19]. These companies reported corporate tax liability of Rs. 4.48 crore, inclusive of surcharge and education cess. Please click here to read more.

Newsclick.in, 21 August, 2019, https://www.newsclick.in/Corporate-Tax-Reduction-Already-Pay-Much-Less-Required?fbclid=IwAR0tfDVDx8JOR_p-d6GRrbZJj8iGofGq5YGBCD09giNkEcVo8PcQr8A8EL8

Tagged with: Central Board of Direct Taxes CBDT Corporate Tax

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