In Short: Finance Minister Nirmala Sitharaman announced that 72% of taxpayers have opted for the new tax regime, which offers a simpler and more straightforward system compared to the previous one. Speaking at the Income Tax Department’s 165th anniversary, she emphasized that this new tax regime is designed to be user-friendly, with fewer exemptions and complications. Sitharaman praised the high uptake as a positive outcome, noting that it was introduced as an option rather than a mandate. She also highlighted the substantial…