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Friday, Dec 03, 2021
Outlook.com
governance: direct taxes

The Code, Decoded

There is more to the new tax regimen than the first flush of relief

The Code, Decoded
Illustration by Sandeep Adhwaryu
The Code, Decoded
outlookindia.com
-0001-11-30T00:00:00+05:53

“This is the resting point for tax rates. It cannot go any lower than this. The elimination of exemptions will foster a virtuous tax regime and will help us move from a consumption-led system to an investment-led one.”

 —N.K. Singh, Rajya Sabha MP and former revenue secretary

“The removal of exemptions on housing loans and those on HRA and LTA will hurt the salaried class most. But for the reduction in rate and increase in savings exemption limit, there are no gains for them.”

—S.P. Singh, Senior Director, Deloitte

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