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New tax regime to definitely benefit taxpayers in some brackets: FM

Feb 03, 2020 12:36 IST

With experts terming the new tax regime complex and unavailing, Finance Minister Nirmala Sitharaman on Sunday said the new structure will definitely benefit taxpayers in certain brackets. She also added that more clarification will be issued by the government if needed. Soon after the announcement of a new income tax regime, the government on Saturday evening came out with a list of exemptions applicable for taxpayers switching to the new tax system. She also defended the new scheme by saying that it will benefit some taxpayers falling in certain brackets if not all.