No corporate tax relief for large companies in budget

June 12, 2019 |
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No corporate tax relief for large companies in budget

NEW DELHI: Finance minister Nirmala Sitharaman won’t cut the tax rate for large companies to 25% from 30% in the forthcoming budget and may raise the long-term capital gains tax, as the government grapples with a potential revenue shortfall and additional spending commitments.

The Narendra Modi administration is exploring ways to garner more tax revenue either by tapping new sources or by digging into existing ones, a person familiar with the discussions in the government said on condition of anonymity.

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