Union Budget: Govt hopes 80% taxpayers to move to new regime

Of the nearly 5.8 crore assessees who filed returns for the last fiscal, 55.4 lakh had claimed housing rent allowance (HRA), which is roughly 9.5% of the base. Within this, around 43 lakh had annual HRA of under Rs 1 lakh. Hence, Centre expects up to 80% of tax assessees to move to the new flat-rate regime, given that not many use HRA benefits for investments.

from Times of India https://ift.tt/2ulrLw3