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

General Studies (MTS) Indian Economy

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.

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