{"id":423129,"date":"2021-06-29T12:35:33","date_gmt":"2021-06-29T07:05:33","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=423129"},"modified":"2021-06-29T12:35:33","modified_gmt":"2021-06-29T07:05:33","slug":"ongc-sticks-to-old-tax-regime-for-mat-credit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-sticks-to-old-tax-regime-for-mat-credit\/","title":{"rendered":"ONGC sticks to old tax regime for MAT credit"},"content":{"rendered":"<p>CHENNAI:  State-run oil explorer Oil and Natural Gas Corporation (ONGC) has stuck to paying taxes under the old corporate tax regime due to a \u201csubstantial\u201d amount of unutilised MAT tax credit available. <\/p>\n<p>A switch to the new tax regime, which offers a corporate income tax rate of 22 per cent, would require the company to give up this accumulated tax credit since they cannot be carried over into the new tax regime. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHENNAI: State-run oil explorer Oil and Natural Gas Corporation (ONGC) has stuck to paying taxes under the old corporate tax regime due to a \u201csubstantial\u201d amount of unutilised MAT tax credit available. A switch to the new tax regime, which offers a corporate income tax rate of 22 per cent, would require the company to give up this accumulated tax credit since they cannot be carried over into the new tax regime.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-423129","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=423129"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423129\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=423129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=423129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=423129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}