Finance Minister Nirmala Sitharaman on Friday refuted a media report claiming that major changes in the income tax system would be introduced when the new government assumes office after the ongoing Lok Sabha elections.
The 30-share BSE benchmark Sensex crashed 1,100 points due to the uncertainty triggered by the media report.
Ms Sitharaman reacted to a post on X by a TV news channel claiming that in a sweeping change, the Income Tax Department is planning to impose uniform treatment for all asset classes.
Referring to the report, the Finance Minister posted on X, ''Wonder where this came from. Was not even double-checked with Finance Ministry. Pure speculation.''
At present, a differential tax structure for various financial assets is in place.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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