The new tax regime will be optional. Those who wish to stay in the old regime, can choose to do so, she said in the Lok Sabha while unveiling the Budget 2020-21.

Now action is being taken against these identified names. It seems this action is restricted to FY 2018-19, 19-20 and 2020-21 cases (AY 2019-20, 2020- 21 and 2021-22), the circular specified.