Nearly 4,000 companies set to gain from corporate tax reduction

The move to reduce the corporation tax rate to 25% will benefit around 4,000 companies with the Centre expected to forego Rs 3,000 cr revenue annually. Officials, however, indicated that there was little headroom to reduce the corporate tax rate for all companies given that a one percentage point reduction in rates results in a Rs 15,000 cr loss to the exchequer.

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