<p>Finance Minister Nirmala Sitharaman on Tuesday said a concessional corporate tax rate of 15 per cent would be available for one more year till March 2024 for newly incorporated manufacturing companies.</p>.<p>She also proposed a 30 per cent tax on income from transfer of virtual digital assets. One per cent tax deducted at source (TDS) on transfer of virtual assets above a threshold, gifts would be taxed, the minister said.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-23-what-does-amrit-kaal-mean-1076822.html" target="_blank">Union Budget 2022-23 | What does 'amrit kaal' mean?</a></strong></p>.<p>The Prime Minister's Development Initiative for North East will be implemented through the North Eastern Council, with an initial allocation of Rs 1,500 crore, she added. </p>.<p><em><strong>Check out the latest DH videos on Union Budget here:<br /></strong></em></p>
<p>Finance Minister Nirmala Sitharaman on Tuesday said a concessional corporate tax rate of 15 per cent would be available for one more year till March 2024 for newly incorporated manufacturing companies.</p>.<p>She also proposed a 30 per cent tax on income from transfer of virtual digital assets. One per cent tax deducted at source (TDS) on transfer of virtual assets above a threshold, gifts would be taxed, the minister said.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/union-budget/union-budget-2022-23-what-does-amrit-kaal-mean-1076822.html" target="_blank">Union Budget 2022-23 | What does 'amrit kaal' mean?</a></strong></p>.<p>The Prime Minister's Development Initiative for North East will be implemented through the North Eastern Council, with an initial allocation of Rs 1,500 crore, she added. </p>.<p><em><strong>Check out the latest DH videos on Union Budget here:<br /></strong></em></p>