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FM hints 25% corporate tax may be extended to all companies

Finance minister Nirmala Sitharaman signalled that the government may extend the lower corporate tax rate of 25% to all companies. In her July 5 budget, she had proposed to cut corporate tax rate to 25% from 30% for companies with annual turnover of up to Rs 400 crore. On the levy of 2% TDS if aggregate cash withdrawal exceeds Rs 1 crore, the finance minister said this will not be over and above the tax liability of the individual or the entity and can be adjusted against the total tax dues of the taxpayer when returns are filed. 


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