Why Has The Budget Only Reduced Burden Under New Tax Regime? CBDT Chairman Explains

Those filing their income tax return under the new tax regime will not only enjoy a higher standard deduction but rejigged tax slabs which can give a salaried individual a tax relief of up to ₹17,500 a year. So why is the government trying to wean the tax payers away from the exemption-laden old tax regime? In a conversation with SIDDHARTH ZARABI, Managing Editor, BTTV, the Chairman of Central Board of Direct Taxes (CBDT) Ravi Agarwal explained that most benefits available under the old tax regime, like the exemptions under Section 80C, are already incorporated into the new tax regime slabs. Listen to this conversation for more information.