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Economic Survey 2020: Corporate tax cut to mostly benefit less than 1% of companies

Updated : January 31, 2020 07:57 PM IST

FM Nirmala Sitharaman had in September last year announced the lowering of the base corporate tax rate to 22% from 30%
The survey said most of the companies (99.1%) have a gross turnover of below Rs 400 crore and are already taxed at the base corporate tax rate of 25%
Economic Survey 2020: Corporate tax cut to mostly benefit less than 1% of companies

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