News From Press 70% of taxpayers will benefit from new income tax rates, slabs: Finance Ministry

70% of taxpayers will benefit from new income tax rates, slabs: Finance Ministry

FinMin expects at least 80% of taxpayers to move to new personal income tax regime, says Revenue Secretary Ajay Bhushan Pandey

Source: Livemint Feb 8, 2020

The finance ministry expects at least 80 per cent of the taxpayers to move to the new income tax regime, Revenue Secretary Ajay Bhushan Pandey said on Friday.

The budget 2020-21 has introduced more tax slabs and offers higher limits provided the taxpayer is ready to forego all the existing exemptions and deductions including home loan interest, other tax savings investments.

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