After the proposal for making a new regime default, will the old regime exist or not in the future?
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Quick Summary
The discussion explores the future of the old tax regime following the introduction of a new default tax system. While new taxpayers will default to the new regime, existing taxpayers will have the option to choose between the old and new systems, at least until 2025. Some believe the old regime will eventually be phased out, while others are confident it will remain an option for those who find it more beneficial.
Finance Minister has Clearly stated that the New tax payers will be registered under New tax regime default. however the taxpayers will be given an opportunity to change to old tax regime. So, the old tax regime works