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. New Income Tax Rules From April 1: From Changes in Tax Slabs to Deductions and More, All You Need to Know

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. No Action for Short Deduction of TDS, if PAN Linked with Aadhaar by May 31

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.''

(The above story first appeared on LatestLY on May 03, 2024 07:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).