Thread by @MFkiRani

(1/n) •Domestic company corp tax cut from 30% to 22 % percent if
they don't avail any exemptions or incentives from FY20
• Effective tax for these companies rate 25.17 percent inclusive of all
surcharge and cesses. Applicable for current fiscal

(2/n) *listed companies which have announced buyback of shares prior to July 5 will not be charged with super rich tax
*All the measures announced will give relief of 1.45 lakh crores annually

(3/n) *Roll back of enhanced surcharge introduced in Budget on capital gain arising from sale of equity shares in a company liable for STT .
* super-rich tax will not to apply on capital gains from sale of any security including derivatives for FPIs.

(4/n) * To boost Make In India, any new domestic mfg
company incorporated after Oct 1, 2019 has option to pay 15% tax. Applicable to companies which don’t avail any exemptions.

(5/n) * Effective tax rate for these cos will be 17.01% including of
surcharge and cesses, and will not have to pay any MAT. Applicable for comestic manufacturing company which begin manufacturing
before March 2023.

(6/n) * Companies enjoying tax holidays will have an option to avail the new
corporate income tax rates after the expiry of tax holiday. Once new tax rate is availed, no changes can be made
* CSR of 2% spend can now include incubation, IITs, NITs, and national laboratories.

(7/n) *FIIs net bought Rs 35.78 crore shares  DIIs net bought Rs 3,001.32
*rupee ended 70.94 , up 37 paise
*Sensex was up 1,921.15 points, 38,014.62, while Nifty was up 569.40 points at 11,274.20.

(8/n) *Eicher Motors, Hero MotoCorp, IndusInd Bank, UltraTech Cement, Maruti Suzuki were among major gainers on the Nifty, while losers were Power Grid, Zee Entertainment, Infosys, TCS and NTPC.

(9/n) *sectoral indices all green led by the auto, bank, metal, infra, FMCG, pharma and energy. BSE midcap rallied over 6 percent, while smallcap index was up 4 percent

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