The govt on Friday announced a Rs 1.45 lakh crore fiscal stimulus that includes slashing corporate tax to 22% from 29.5% for companies that do not seek exemptions, 15% for new manufacturing start-ups as well a cut down on MAT (minimum alternate tax). The govt has opted to promulgate an ordinance to usher in amendments to the Income Tax Act & Finance Act.​

from Times of India https://timesofindia.indiatimes.com/business/india-business/3rd-budget-in-8-months-and-the-biggest-govt-cuts-corporate-tax-to-historic-low/articleshow/71227320.cms