By Admin 
Income Tax: 88 percent of the taxpayers of the country have moved to the new tax regime in the assessment year 2025-26. This information was given by Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal on Wednesday. During this, he also said that at present the government is not considering abolishing the facility of filing returns under the old tax regime.
In such a situation, the question arises that when will the old tax regime end? Responding to this, Ravi Aggarwal said that the Income Tax Department has no fixed date yet to abolish the old tax system.
When will the refunds of the remaining people come?
An important question is that the refunds of many people who have filed ITR have not yet come, when will the money come to their accounts? Responding to this, CBDT Chief said that we have already distributed refunds to the people up to 95 percent. Most of the remaining refunds will be cleared by February. He also said that the purpose of delay in issuing refunds is not to push people into the new system.
There has been a rise in the adoption of the new tax regime
In an interview given to The Indian Express, Ravi Aggarwal said that about 86 percent of taxpayers in the entire country are currently in the new tax regime, which is 11 percent more than the assessment year 2024-25. If you talk about individuals – ITR 1, 2, 3, and 4 – it is 88 percent this time compared to 76 percent last year. If we look at ITR-4 alone, 97 percent people are in the new regime. People have the option to choose between the old and new tax regime. Nothing is being imposed on anyone.
Ravi Aggarwal said, “But we are hopeful and confident that taxpayers will see the benefits in the new system and will adopt it.” Then we will see at some point whether the old tax system is of any use or not, but the taxpayer will always have the option.
He said that we do not have any pre-determined date in mind for abolishing the old tax regime. Taxpayers have their own reasons for staying in the old system, such as certain deductions that they find more beneficial.
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