As per Union Budget 2019-20, the tax rate has been reduced to ______ for companies with annual turnover up to 400 crores.
Show answer & explanation
Correct answer: A
Explanation
The correct option is option 1 i.e. 25%.
| Union Budget 2019-20 |
The Union Budget 2019-20 has levied the lower rate of 25 per cent corporate tax to all companies with annual turnover up to Rs 400 crore. |
| However, 0.7 per cent big companies still fall outside this lower tax ambit. | |
| Finance minister Nirmala Sitharaman said, "This will cover 99.3 per cent of the companies. |