The government has no plans to discontinue the old income tax regime, according to the Chairperson of the Central Board of Direct Taxes (CBDT). The clarification comes amid growing adoption of the new tax system by individual taxpayers.
The CBDT chief said the older tax structure will remain available, allowing taxpayers to choose the option that best suits their financial situation. While the new regime has attracted a large share of taxpayers due to lower tax rates and fewer compliance requirements, the government does not intend to impose a deadline for ending the old system.
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