Diabytes
Union Budget 2019: 25% Corporate Tax for firms with turnover up to Rs 400 crore
Nirmala Sitharaman said reduction in corporate tax rate will cover 99.3% of the companies. Now only 0.7% of companies will remain outside this rate.
Trending Photos
12- 8
- 13
- 12
 "Union Budget 2019: 25% Corporate Tax for firms with turnover up to Rs 400 crore")
New Delhi: Finance Minister Nirmala Sitharaman on Friday proposed to extend the lower rate of 25 percent Corporate Tax to all companies with annual turnover up to Rs 400 crore. Currently, this rate is only applicable to companies having annual turnover up to Rs. 250 crore.
Presenting the Union Budget 2019-20 in Lok Sabha, Sitharaman said, “Currently, the lower rate of 25 percent is only applicable to companies having annual turnover up to 250 Crore. I propose to widen this to include all companies having annual turnover up to 400 crore. This will cover 99.3% of the companies. Now only 0.7% of companies will remain outside this rate.”
The tax rate for corporate assessees was gradually reduced to 25 percent and currently, only large corporates (with turnover above Rs 250 crore) are required to pay tax at the rate of 30 percent.
Moreover, even a large new manufacturing company having turnover above Rs. 250 crore is taxed at 25 percent.
Live Tv
 "DNA: India's first digital beggar Raju dies")
 "DNA test of your utensils")
 "DNA: How to know if gold is real?")
 "DNA: What is the Fatehpur Sikri Masjid-Mandir controversy?")
 "DNA: Lok Sabha elections...Is there a game in voting?")
 "DNA: Rahul Gandhi-Akhilesh Yadav Holds Join Rally In Kannauj")
 "DNA: Analysis of Supreme Court's decision on Kejriwal")
 "DNA: 3 weapons of elections in India!")
 "DNA: Millionaires growth at double speed in Delhi-Mumbai!")
 "DNA: Scientists Discover a 'Phonetic Alphabet' Used by Sperm Whales")
