IANS | 03 May, 2024
Finance Minister Nirmala Sitharaman on Friday refuted a media report
claiming that major changes in the income tax system would be introduced
when the new government assumes office after the ongoing Lok Sabha
elections.
The 30-share BSE benchmark Sensex crashed 1,100 points due to the uncertainty triggered by the media report.
FM
Sitharaman reacted to a post on X by a TV news channel claiming that in
a sweeping change, the Income Tax Department is planning to impose
uniform treatment for all asset classes.
At present, a differential tax structure for various financial assets is in place.
Referring
to the report, the Finance Minister posted on X, ‘’Wonder where this
came from. Was not even double-checked with Finance Ministry. Pure
speculation.''