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Budget: Those taking I-T exemptions will gain if they shift, says AB Pandey

The new regime is simple, one has to see the exemptions one was taking earlier and compare the new tax rates without those exemptions, the Revenue Secretary said

Indivjal Dhasmana 

Revenue Secretary A B Pandey tells Indivjal Dhasmana that most people took exemption up to Rs 1 lakh in 2018-19. They will gain if they switch to the new tax regime, he says. Edited excerpts: Won’t options given to taxpayers who earn up to Rs 15 lakh a year to choose between two tax regimes make things complicated for them? The new regime is simple.

One has to see the exemptions one was taking earlier and compare the new tax rates without those exemptions. Income-tax returns will give him the two options, so that the taxpayer can decide. Will it lead to a lower tax regime in ...

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First Published: Mon, February 03 2020. 00:49 IST
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