What are the implications of 72% of Income Tax assessees opting for the new regime in 2023-24

1. **Revenue Impact**: The government may see a decrease in revenue collection due to lower tax rates under the new regime. 2. **Simplified Compliance**: With fewer taxpayers under the old regime, compliance and administration may become more streamlined. 3. **Tax Planning Changes**: Taxpayers opting for the new regime may need to re-evaluate their tax planning strategies as deductions and exemptions differ. 4. **Economic Stimulus**: Increased take-home pay for taxpayers under the new regime could potentially boost spending and stimulate economic growth. 5. **Fairness Concerns**: Discrepancies between taxpayers under different regimes may raise concerns about equity and fairness in the tax system.