Corporate tax break will help the top 1,000 firms in saving Rs 37,000 cr!
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According to a study on Sunday, around 1,000 firms would save approx Rs 37,000 crore owing to the latest cut in corporate tax rates. Fund Minister Nirmala Sitharaman decreased the corporate duty on organizations with a turnover of up to Rs 400 crore to 25% in the Budget exhibited on July 5. This cut down the compelling duty rate on more than 99% of organizations to 27.8 %. For the rest under 1%, the rate stayed at 34.94.