Old income tax regime to be discontinued? What Nirmala Sitharaman has to say

Finance Minister Nirmala Sitharaman, after presenting Budget 2024, stated that no final decision has been made on discontinuing the old income tax regime. She emphasized the goal of simplifying the tax system but noted that any changes will follow a comprehensive review. Over two-thirds of taxpayers have adopted the new regime, which offers lower rates but fewer exemptions.