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Business Economy 05 Jul 2019 Budget 2019: Firms with turnover of Rs 400 cr to pay lower 25 pc corporate tax
Budget 2019: Firms with turnover of Rs 400 cr to pay lower 25 pc corporate tax
PTI
Published : Jul 5, 2019, 1:26 pm IST
Updated : Jul 5, 2019, 1:55 pm IST
Only 0.7 per cent of the companies will now remain outside the 25 per cent corporate tax bracket, says Sitharaman.
The corporate tax rate is 30 per cent at the moment.
New Delhi: Finance Minister Nirmala Sitharaman on Friday proposed to raise the annual turnover limit from Rs 250 crore to Rs 400 crore for availing a lower corporate tax rate of 25 per cent.
The proposal would cover 99.3 per cent of the companies operating in the country, she said while presenting Union Budget 2019-20 in the Lok Sabha.
She further said only 0.7 per cent of the companies will now remain outside the 25 per cent corporate tax bracket, she said.
The corporate tax rate is 30 per cent at the moment.
