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.)
Featured Video Of The Day
"Gurpatwant Pannun's Criminal Activities Are Concerning..": Sikh Activist Sukhi Chahal
X User Seeks Relief For Middle Class. Nirmala Sitharaman Responds "Impressed...": Nirmala Sitharaman Congratulates Trump Pick Tulsi Gabbard 'Patriarchy Did Not Stop Indira Gandhi From Becoming PM': Nirmala Sitharaman Why Donald Trump's Cabinet Choices Are Giving Pakistan Sleepless Nights "Go Falcon. Go GSAT-20": SpaceX Successfully Launches Indian Satellite Dhaka, Islamabad Inch Closer With Historic Sea Link. How It Impacts India Lebanon, Hezbollah Agree To US Ceasefire Proposal With Israel, Says Official Designate Hostage-Killers As 'Kuki Terrorists', Start Ops: Manipur Cabinet Biden Pledges "Historic" $4 Billion To World Bank Fund For Poor Nations Track Latest News Live on NDTV.com and get news updates from India and around the world.