Question

As part of the Taxation Reforms in 1991, Corporate Income Tax Rates were reduced for _____________.

• A. Indian Companies
• B. Foreign Companies
• C. Both (a) and (b)
• D. Neither (a) nor (b)

Answer 1

The correct option is C Both (a) and (b)

As part of the Taxation Reforms in 1991, Corporate Income Tax Rates were reduced for :-

a) Indian Companies

b) Foreign Companies

Corporate tax is levied on income or capital of any corporation. Corporation tax is a direct tax, enacted by the Government of India.