90% or more taxpayers may shift to new regime with new slabs announced in Budget: CBDT Chairman

CBDT Chairman Ravi Agrawal expects over 90 percent of individual taxpayers to opt for the new tax regime following the Budget announcement of zero tax for earnings up to Rs 12 lakh per annum and revised tax slabs. The government aims for a 'non-intrusive' tax administration utilizing AI, aiming to simplify processes for taxpayers.