Lok Sabha passes Bill to effect corporate tax reduction - Times of India

The Times of India reports:
NEW DELHI: The Lok Sabha on Monday passed a Bill to replace an Ordinance for effecting reduction of corporate tax rates. Taxation Laws (Amendment) Bill, 2019, will amend the Income Tax Act 1961 and the Finance (No 2) Act 2019. It replaces the Ordinance which was Promulgated by the President in September. In the biggest reduction in 28 years, the government in September slashed corporate tax rates up to 10 percentage points as it looked to pull the economy out of a six-year low growth with a Rs 1.45 lakh crore tax break.
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