The Union Government has kept the interests of the middle class in mind while formulating tax rates, and is constantly trying to keep it simpler while giving more options to them via the new tax regime, Finance Minister Nirmala Sitharaman said on September 16.

“Since 2019, the attempt has been to simply direct taxation. Attempt has been to make the process simpler, which is why a new regime was brought in and rates kept low. We gave the option to assessees that if they want exemptions, they could continue with the old scheme,” Sitharaman said at the News18 India Chaupal event.

While the new tax regime scheme was without any exemptions, the government later added standard deductions after hearing the people, Sitharaman added.

(This is a developing story)