New Delhi: About 88% of individual taxpayers have switched to the new tax regime, CBDT Chairman Ravi Agrawal said on Wednesday. In a post-Budget interview, he confirmed the government has no plans to end filing under the old tax regime. "Selecting a particular tax regime is the choice of the taxpayers, but the response to the new regime has been 'very good'," Agrawal said. He added, "When ITR 1, 2, 3 and 4 are taken together, about 88% of people have moved to the new tax regime." For presumptive tax cases, the figure rises to 97%. Meanwhile, around 60% of corporate income is reported under the new regime. Agrawal expects the new Minimum Alternate Tax (MAT) rules introduced in the Budget 2026-27 will further encourage people to shift to the new regime. MAT applies to companies and is based on 15% of book profits. The Budget proposes reducing MAT to 14% and making it the final tax for companies under the old regime. On the Securities and Transaction Tax (STT) hike in the new Budget, Agrawal hopes this will "certainly dissuade retail investors from very aggressively taking up this exercise." STT on futures contracts is rising from 0.02% to 0.05%, while STT on options premiums and exercises is increasing to 0.15% from 0.1% and 0.125%, respectively. This move aims to curb excessive short-term trading. Agrawal is confident that direct tax collections will meet the revised target of Rs 24.21 lakh crore for the 2025-26 financial year. The old tax regime, used before 2020, had higher tax rates but allowed many deductions. The new tax regime offers lower rates and full exemption up to Rs 15 lakh income, making it attractive to most taxpayers.