Thursday, January 12, 2012

India tax fact of the day

The Comptroller and Auditor General (CAG) in its report tabled in parliament last year, found that as against the statutory 33.9%, 179 top companies with profit before tax (PBT) of Rs500 crore and above paid an effective tax rate of 22.1% in 2008-09. On the other hand, the effective rate for the companies up to PBT of only Rs1 crore was more at 25.5%, suggesting that tax concessions are being availed of mainly by large companies.

(HT : Livemint)

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