Updated 20:13 IST, February 2nd 2025
90% or More Taxpayers May Shift to New Tax Regime, says CBDT Chairman after FM Sitharaman's Big Budget Relief
CBDT Chairman Ravi Agrawal said more than 90 per cent of individual taxpayers might be promoted to embrace the new tax regime after big budget announcement.

New Delhi: Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal on Sunday said that more than 90 per cent of individual taxpayers might be promoted to embrace the new tax regime after the budget announcement of zero tax for earnings up to Rs 12 lakh per annum.
CBDT chairman mentioned the benefits of the new tax regime (NTR), where there are no deductions or exemptions allowed like the old regime, which has "simple" calculations and enables a taxpayer to file ITR without the help of a professional.
'90% Taxpayers Might Shift To NTR'
"If not 100 per cent of the taxpayers, at least going forward next year onwards, we should see figures in the 90s (90 per cent) or maybe more than that," Agrawal was quoted as saying by news agency PTI.
The Central Board of Direct Taxes (CBDT) is the administrative body, under the Union finance ministry, for the I-T Department.
Finance Minister Nirmala Sitharaman on Saturday announced that individuals earning up to Rs 12 lakh per year will not have to pay any taxes.
As of now, the exemption limit is Rs 7 lakh at present.
An additional Rs 75,000 standard deduction is available for the salaried class.
According to the official data, about 74-75 per cent of individual taxpayers have moved to the NTR that was brought in by the government a few years back.
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Published 20:13 IST, February 2nd 2025