Budget 2022 has come out on 1st February 2022. Regarding a budget, a headline is made by NDTV on 1st February 2022. In the live coverage of Budget session 2022, while Nirmala Sitharaman was presenting the budget in the parliament a headline came to the screen where NDTV states that corporate tax has been reduced from 18% to 15%.
If you will click on the YouTube link given below, exactly at 3 minutes 52 seconds to 3:40 seconds you will see the headline popping, ‘Corporate Tax got reduced from 18% to 15%.
Fact check
According to the official account of Income Tax, there’s a tweet on 1st February 2022 where Income Tax has clearly written, ‘A FAKE news is being spread reg reduction of Corporate Tax in the Budget. The correct position is that AMT for co-op societies is being reduced to 15% from 18.5% to bring parity bet co-op societies & companies. Refer to the tweet below @PIBFactCheck @FinMinIndia’
A FAKE news is being spread reg reduction of Corporate Tax in the Budget.
The correct position is that AMT for co-op societies is being reduced to 15% from 18.5% to bring parity bet co-op societies & companies. Refer tweet below@PIBFactCheck @FinMinIndiahttps://t.co/ufHnXHppjv— Income Tax India (@IncomeTaxIndia) February 1, 2022
Income Tax official also added a thread with the tweet mentioning that Corporate Tax has got reduced from 12% to 7%.
— Income Tax India (@IncomeTaxIndia) February 1, 2022
In short, there’s a reduction of tax from 18% to 15% in the Alternative Minimum Tax of Co-operative societies and not in Corporative tax.
Conclusion: A headline spread by NDTV is fake and misleading as Finance Minister reduced tax in ATM co-operative societies in spite of Corporate Tax.
Claim Review: Did NDTV make a misleading headline regarding Corporate Tax reduction?
Claim by: NDTV
Fact check: Fake
