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Letter to BS: Dual taxation regime has complicated matters further

The claim that "eventually this should lead to a system where people are taxed at the lowest possible rate and are given a simple system", may turn out to be a mirage.

Business Standard 

Money

This refers to "FM Nirmala Sitharaman's Budget goal: Lower rates, simple structure" (February 3). Finance Minister Nirmala Sitharaman dismissing the criticism that the new regime would not be beneficial to the assessees does not hold water. In fact, most of them are bound to suffer if they unsuspectingly opt for this alluring new income tax regime. I would go as far as saying this is like serving half-baked food.

The claim that “eventually this should lead to a system where people are taxed at the lowest possible rate and are given a simple system", may turn out to be a mirage. What will happen in the long run, can't be properly visualised today; but, for sure, the dual taxation regime has complicated matters further for the hapless tax payer. The observation that the "new scheme would benefit some taxpayers falling in certain brackets, if not all" is unbelievable.

Kumar Gupt, Panchkula


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First Published: Mon, February 03 2020. 22:14 IST
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