Indian Economy

General Studies (MTS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

As announced in the Union Budget of Financial Year 2022, corporate surcharge was reduced from 12% to ______.

This questions was previously asked in

SSC MTS 12th July 2022 Shift-3

- In the Union Budget for Financial Year 2022, the government proposed to reduce the surcharge on corporate tax for certain companies.

- The surcharge on companies whose total income exceeds Rs. 1 crore but does not exceed Rs. 10 crore was previously 12%.

- This surcharge was reduced to 7%.

- The move aimed to help startups and facilitate new investments by reducing overall tax burden.

- Let's look at the options:

- Option 1 (7%) Correct!

- Option 2 (8%) – Incorrect, the new rate is not 8%.

- Option 3 (1%) – Incorrect, this is too low.

- Option 4 (9%) – Incorrect, this was not the rate announced.