Business Union Budget 2019: Govt cuts corporate tax rate to 25% for firms with Rs 400 crore turnover Updated : July 05, 2019 03:36 PM IST Currently, only companies with an annual turnover of Rs 250 crore can avail the 25 percent corporate tax rate. The demand has been for an across the board cut of the corporate tax rate to 15 percent. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.