Question

Reduction of the corporate tax rate to 25 percent to all companies with turnover of up to rs 400 crore will give a boost to the industry. However, it was expected that such relief would be spread across all corporates which is a small damper.

Answer 1

The tax rate for all other companies is 30 percent.. to all companies with turnover of up to Rs 400 crore will give a boost to the industry.

Answer 2

Explanation:

➡️ The move cover 99.3 % of all the companies, Sitharaman said. Last year, the then Finance Minister Arun Jaitley had cut the corporate income tax rate to 25 % for companies with a turnover of up to Rs 250 crore. Corporation tax is a tax imposed on the net income of the company.