From 1st April 2020, Finance Minister Nirmala Sitaraman had introduced a new personal income tax regime. As per this new rule, lower income tax rates will be applicable for individual taxpayers who forgo exemptions and deductions. You can read about the Tax Administration Reform Commission (TARC) – Mandate, Report, Recommendations in the given link.
- Tax Policy Council & Tax Policy Research Unit: Notes for UPSC
- Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System