The recent media report on major changes coming after the Lok Sabha elections ended was rejected by Finance Minister Nirmala Sitharaman. The report was said to have triggered shockwaves in the financial markets with the 30-share BSE benchmark Sensex crashing 1,100 points amidst the subsequent uncertainty.
Reacting to a report by a TV news channel on X, that the Income Tax Department was thinking of uniform treatment for all asset classes, FM Sitharaman rubbished the allegations. There is now a financial asset tax structure that, in operation, differs from one financial asset to another.
Reacting to the matter, the Finance Minister told X saying she had no inkling of where the sensational report came from and was not even crosschecked with the Finance Ministry before being distributed.
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