New Delhi, May 3 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.''
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