Budget 2019: Corporate tax cut to 25% on companies with turnover up to Rs 400 cr
Budget 2019: Finance Minister Nirmala Sitharaman in her speech proposed to reduce corporate tax on companies with turnover up to Rs 400 crore to 25 percent.
Budget 2019: Finance Minister Nirmala Sitharaman in her speech proposed to reduce corporate tax on companies with turnover up to Rs 400 crore to 25 percent. Sitharaman proposed 25 percent tax for businesses with income up to Rs 400 crore instead of Rs 100 crore.
Only 0.7 percent companies will fall outside this category, she said. This is likely to reduce the tax burden on these companies. "All companies having an annual turnover of 400 crores, will now be under the bracket of 25%. This will cover 99.3% of all the companies," the minister said.
"We propose to start a television programme on @DDNational exclusively for startups.This channel will be designed and executed by startup's themselves," she said. Sohrab Bararia, Associate Partner/ Indirect Tax at DBO India, said startups to witness tax planning, investment opportunities and regulatory discussions via TV channels set-up specifically for this sector. This will bolster new entrepreneurs to understand the tax and regulatory framework in India along with possible fund raising opportunities.
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