Firms with turnover of Rs 400 crore to pay lower 25% corporate tax, says FM
The proposal would cover 99.3 per cent of the companies operating in the country.
Finance Minister Nirmala Sitharaman on Friday proposed to raise the yearly turnover limit from Rs 250 crore to Rs 400 crore for profiting a lower corporate tax rate of 25 percent.
The proposition would cover 99.3 percent of the organizations working in the nation, she said while displaying Union Budget 2019-20 in the Lok Sabha.
She further said just 0.7 percent of the organizations will presently stay outside the 25 percent corporate duty section, she said.
The corporate tax rate is 30 percent right now.
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