'Among corporates, about 60% of income is now reported under the new tax regime.'
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
'...so cases that arose under the existing Act will be adjudicated under the old provisions.' 'Care has been taken to ensure that the new I-T Act does not give rise to interpretational issues.'
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
'There is no retrospective changing of the law, only its simplification.'
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
'Going forward, the encouragement would be to move to the new tax regime.'
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