(MENAFN- IANS) New Delhi, May 3 (IANS) 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.''
MENAFN03052024000231011071ID1108170719
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.