With an intent to boost Electricity Generation sector, the Union Budget 2020 has proposed the Concessional Tax Rate for Electricity Generation Companies.
New provisions were introduced in September 2019, offering a concessional corporate tax rate of 15% to the newly incorporated domestic companies in the manufacturing sector which start manufacturing by 31st March 2023.
In order to attract investment in the power sector, it has been proposed to extend the concessional corporate tax rate of 15% to new domestic companies engaged in the generation of electricity.
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