{"id":223241,"date":"2019-12-13T10:31:37","date_gmt":"2019-12-13T05:01:37","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=223241"},"modified":"2021-07-30T09:43:16","modified_gmt":"2021-07-30T04:13:16","slug":"taxation-laws-amendment-act-2019-receives-presidents-assent","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/13\/taxation-laws-amendment-act-2019-receives-presidents-assent\/","title":{"rendered":"Taxation Laws (Amendment) Act, 2019 receives President&#8217;s assent"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\">President has given it&#8217;s assent for the Taxation Laws (Amendment) Act, 2019. It is an act that woud further amend the Income tax Act 1961 and Finance (No. 2) Act, 2019.<\/span><\/p>\n<p style=\"text-align: justify;\"><strong>Corporate Tax Rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies, according to the said Act.<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>List of amendments:<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">Section 92 BA<\/li>\n<li style=\"text-align: justify;\">Section 115 BA<\/li>\n<li style=\"text-align: justify;\">Insertion of Sections 115 BAA\u00a0<strong>[Tax on income of certain domestic companies]<\/strong>\u00a0&amp; Sections 115 BAB\u00a0<strong>[Tax on income of certain new domestic manufacturing companies]<\/strong><\/li>\n<li style=\"text-align: justify;\">Section 115 JB<\/li>\n<li style=\"text-align: justify;\">Section 115 QA<\/li>\n<li style=\"text-align: justify;\">Amendment of Act No. 23 of 2019<\/li>\n<li style=\"text-align: justify;\">Amendment of Part II of First Schedule<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong>**Read the Act here: <a href=\"http:\/\/egazette.nic.in\/WriteReadData\/2019\/214648.pdf\">Taxation Laws (Amendment) Act, 2019<\/a><\/strong><\/span><\/p>\n<hr \/>\n<p><strong>Ministry of Law and Justice<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 12-12-2019]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President has given it&#8217;s assent for the Taxation Laws (Amendment) Act, 2019. It is an act that woud further amend the Income <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[38856,38857,38858,38855],"class_list":["post-223241","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-statutes","tag-corporate-taxes","tag-domestic-companies","tag-domestic-manufacturing-companies","tag-taxation-laws-amendment-act-2019"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Taxation Laws (Amendment) Act, 2019 receives President&#039;s assent | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/13\/taxation-laws-amendment-act-2019-receives-presidents-assent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taxation Laws (Amendment) Act, 2019 receives President&#039;s assent\" \/>\n<meta property=\"og:description\" content=\"President has given it&#8217;s assent for the Taxation Laws (Amendment) Act, 2019. 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