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

Option 1: 7%

Option 2: 8%

Option 3: 1%

Option 4: 9%


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: 7%


Solution : The correct answer is 7%.

Union Finance Minister Nirmala Sitharaman recently presented Budget 2022 and announced that the government will reduce the corporate surcharge from 12% to 7%. Sitharaman suggested during the budget presentation raising the tax deduction cap for federal and state government employees from 10% to 14% to support state government social security benefits and level the playing field with federal government benefits.

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