60% may shift to new tax regime in FY24: CBDT chairman Nitin Gupta

'No extension of concessional corporation tax rate for new manufacturing units'

Central Board of Direct Taxes (CBDT) chairman Nitin Gupta tells Indivjal Dhasmana in New Delhi that 60 per cent of taxpayers are likely to shift to the new tax regime during 2023-24. He also spoke about the rationale behind the projections for corporation and personal income tax, withdrawal of petty tax disputes and BEPS. Edited excerpts.

You have set a conservative target for corporation tax receipts in revised estimates for FY24. Figures released by the Controller General of Accounts showed that you have already received Rs 7.2 trillion till December 2023, which is only Rs 2 trillion less than BE