By A Staff Reporter
New Delhi: Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal has urged taxpayers to evaluate their tax liabilities under the new tax regime, asserting that it is more beneficial for the majority. Speaking on the comparative advantages, Agrawal highlighted significant economic changes over the years to support his claims.
"Every taxpayer should see for themselves according to their transactions how much is their liability, they will know that the new tax regime is better," Agrawal stated, encouraging individuals to review their specific cases. He believes most people will find the new system advantageous.
Illustrating the economic shifts, Agrawal mentioned, "10 gm Gold in 2001 was around Rs 4001, today it is around Rs 75,000, it increased around 19 times. If we calculate then new tax regime is better."
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